Judgement

HC invalidates 153C action without incriminating material; exempts rural agricultural land sale profits from tax.

HC Quashes 153C Proceedings; Rural Agricultural Land Sale Not Taxable

The Bombay HC sought compliance from the tax authorities on processing petitioner's refund and directed that interest be paid until the actual date of credit.

Bombay High Court Seeks Compliance on Income Tax Refund and Interest Payment

Income Tax Interest should be paid upto date of Refund credit and not date of Order: Bombay High Court

The ITAT restored the matter to the Assessing Officer. It directed the officer to verify the tax paid by the assessee for the entire financial year 2022-23 from the tax return filed by the assessee in the USA.

ITAT Mumbai Restores Foreign Tax Credit Claim for Fresh Verification

The ITAT quashed the reassessment proceedings against the assessee due to invalid notice under Section 148A(b), time-barred action, and improper full addition despite joint property ownership.

ITAT Invalidates Entire Reassessment; Cites Breach of Section 148A(b) and Joint Ownership Error

News

The Income Tax Department has launched an offline utility for Forms 145 and 146 under the new Income Tax Act, 2025.

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

ITAT dismisses Revenue’s appeal, holding that once identity, creditworthiness, and genuineness are established through documentary evidence and banking trail.

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HC Quashes 153C Proceedings; Rural Agricultural Land Sale Not Taxable

Income Tax Interest should be paid upto date of Refund credit and not date of Order: Bombay High Court

ITAT Mumbai Restores Foreign Tax Credit Claim for Fresh Verification

ITAT Invalidates Entire Reassessment; Cites Breach of Section 148A(b) and Joint Ownership Error

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

ITAT: Section 68 Addition Deleted as Assessee Proved Loan Genuineness; Mere Third-Party Search Findings Not Sufficient