Judgement

Court rules that retrospective amendment to Section 115JB permitting add-back of diminution in asset value; lease rent provision found unascertained

High Court: Provisions for Diminution in Investments & Lease Rent Are Liable for MAT Add-Back

ITAT Ahmedabad rules tax department cannot start a reassessment against a dead person; a notice must be issued to the legal heir.

Reassessment on a Dead Person Illegal: ITAT Sets Aside Rs. 59.44 Lakh Addition

Articles

Taxpayers must file a Revised ITR before December 31, 2025, to avoid a penalty or prosecution

Declare Your Foreign Assets Now! Income Tax Department Sends SMS and Emails to 25,000 Taxpayers

Declare Your Foreign Assets Now! Income Tax Department Sending SMS and Emails to 25,000 Taxpayers

News

The income tax portal is displaying a technical glitch, blocking audited assessees from filing their ITRs, showing an incorrect 139(1) time-lapse error.

ITR Filing Disrupted for Audited Taxpayers Due to Portal Glitch, Here's What You Need to Know

Tribunal holds that technical delay in audit report cannot deny genuine charitable exemption; directs AO to reconsider claim after verifying Form 10B

ITAT Condones Delay in Filing Form 10B; Allows MIG Cricket Club’s Exemption Claim Under Sections 11 & 12

Tribunal finds no inaccurate particulars in capitalisation, forex loss, or Form 26AS mismatch; penalty under Section 271(1)(c) unsustainable

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High Court: Provisions for Diminution in Investments & Lease Rent Are Liable for MAT Add-Back

Reassessment on a Dead Person Illegal: ITAT Sets Aside Rs. 59.44 Lakh Addition

Declare Your Foreign Assets Now! Income Tax Department Sending SMS and Emails to 25,000 Taxpayers

ITR Filing Disrupted for Audited Taxpayers Due to Portal Glitch, Here's What You Need to Know

ITAT Condones Delay in Filing Form 10B; Allows MIG Cricket Club’s Exemption Claim Under Sections 11 & 12

ITAT Deletes Penalty on Foodservice Packaging Company; Holds Disallowances Were Purely Bonafide and Not Concealment