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For AY 2025–26, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) from July 31, 2025, to September 15, 2025. In the notified ITR forms, the CBDT quoted comprehensive structural and content revisions as the cause for extension. The amendment is to ease compliance, improve transparency, and […]
The Allahabad High Court, relying on the Supreme Court’s decisions in Vaibhav Goyal & Another vs. Deputy Commissioner of Income Tax & Another, ruled that the claims of the Goods and Services Tax Department are restricted after the approval of the resolution plan by the National Company Law Tribunal (NCLT). In the case of Vaibhav […]
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT), ruling that the assessment order was not incorrect. Chandrakant Vallabhbhai Koladia has submitted his income tax return for the AY 2018-19, declaring a total income of Rs 1,23,69,720. Based on the survey, the taxpayer revealed […]
ITAT Pune ruled that the estimation of profit at 8% in case of contract work for a government department, by taking provisions of section 44AD of the Income Tax Act as a parameter, is justifiable. As per that, the order of CIT(A) is upheld. The taxpayer is an individual and is in the business as […]
The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT), Section 263 of the Income Tax Act, 1961, which authorizes the Principal Commissioner of Income Tax (PCIT) to modify assessments, cannot be invoked based on an audit objection. The taxpayer Vaneet Gupta, in March 2018, was provided an income tax notice under section 148 asking […]
The ITAT Indore ruled that the taxation of unexplained cash credit is invalid if the books of accounts are rejected, particularly in light of the significant increase in cash deposits during the demonetization period. The taxpayer, Dharmendra Doshi, who runs Parsvnath Industries, a proprietorship that deals in plastic scrap and old bottles, submitted an income […]
The Madras High Court ruled that uploading notices only on the GST portal is not sufficient service while granting relief to a taxpayer who was unaware of the proceedings against him. The applicant Chokalingam Srinivasan, was running a business of undertaking works contract services and was registered under the Goods and Services Tax Act, 2017(GST […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has removed the INR 26.35 lakh addition made to cash deposits during the demonetization period, marking that the Revenue Department had accepted the sales and purchases without rejecting the books of accounts. The taxpayer/applicant, Shivinder Pal Singh, appealed against the order on 26.10.2023 for the Assessment […]
The assessee is entitled to interest on the refund under the Direct Tax Vivad Se Vishwas Scheme, as ruled by the Gujarat High Court. “it is true that the assessee is not entitled to interest under Section 244A of the Income Tax Act, 1961, however, when the assessee has opted for direct tax for Vivad […]
