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The government has extended the tax exemptions for global pension funds and sovereign wealth funds, including MIC Redwood, Norfund, and others, under the Income-tax Act, 1961, until March 31, 2030.

Income Tax: CBDT Extends Tax Exemptions for Global Pension Funds and Sovereign Wealth Funds

Judgement

Tribunal quashes Rs. 5.90 Cr addition for cash deposits and Rs. 60 Lakh loan addition; holds all transactions duly explained with proper records.

Relief for Taxpayer, ITAT Deletes Demonetization Cash Deposits and Unsecured Loan Additions

Jeweller Gets Relief! ITAT Deletes 5.90 Cr Cash and 60 Lakh Loan Additions

Articles

Comparison of India’s direct tax collections and refunds for FY 2025-26 and FY 2024-25, highlighting higher refunds and a slight dip in net revenue.

Direct tax collection: Rs. 6.64 Lakh Crore Collected, Higher Refunds Impact Net Tax Revenue

Tribunal upholds deletion of Rs. 6.87 crore addition; holds foreign investments duly explained

ITAT: Share Premium from Non-Residents Can’t Be Taxed Under Section 68 of Income Tax

Read Representation

Two of Gujarat’s leading professional bodies, the All Gujarat Federation of Tax Consultants (AGFTC) and the Income Tax Bar Association (ITBA), have jointly submitted a detailed representation to Union Finance Minister Smt Nirmala Sitharaman on July 10, 2025.

Tax Professionals Raise Alarm Over Delay in ITR Utility Release: AGFTC and ITBA Submit Representation to Finance Minister

ITAT Delhi quashes reassessment as no addition made on original reason; also allows business expenses where no exempt income.

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Income Tax: CBDT Extends Tax Exemptions for Global Pension Funds and Sovereign Wealth Funds

Jeweller Gets Relief! ITAT Deletes 5.90 Cr Cash and 60 Lakh Loan Additions

Direct tax collection: Rs. 6.64 Lakh Crore Collected, Higher Refunds Impact Net Tax Revenue

ITAT: Share Premium from Non-Residents Can’t Be Taxed Under Section 68 of Income Tax

Tax Professionals Raise Alarm Over Delay in ITR Utility Release: AGFTC and ITBA Submit Representation to Finance Minister

ITAT Quashes 2.58 Cr Addition as Beyond Scope of Reopening, Carry Forward of Losses Allowed