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The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the appeal based on inordinate delay of 1,370 days in filing, holding that the taxpayer’s reliance on its tax consultant’s failure to advise remedial action does not comprise “sufficient cause” for condonation u/s 5 of the Limitation Act, 1963. An order dated 29 […]
A rising number of taxpayers in India reported that they are getting surprising interest demand notices from the income tax department post-filing the updated ITRs. The Gujarat Chamber of Commerce and Industry (GCCI), concerned about the rising grievances, asked the centre to revise the provisions of the Income Tax Act to remove the uncertainty in […]
In India, managing taxation and compliance is one of the most difficult tasks of running a business. Tax Deducted at Source (TDS) is the main component of the income tax system among these compliance duties. Penalties and interest will be charged for minor errors like late payments, delayed filings, or incorrect deductions. Here, the technology […]
The Madras High Court ruled that under the new income tax regime, approval from a higher authority, like the Principal Chief Commissioner of Income Tax or the Principal Director General, is obligatory to issue a notice u/s 148 of the Income Tax Act after the lapse of a three-year limitation period. Justice C. Saravanan mentioned […]
For the tax audit report (TAR), CBDT has extended the last date to November 10, 2025, and the income tax filing return (ITR) to December 10, 2025, for specified tax audit cases. Specific classes of taxpayers are skipped by the income tax department from this extension, which implies that those excluded will still need to […]
The Kerala High Court ruled that Section 263 of the Income Tax Act, 1961, can be invoked where the Assessing Officer (AO) is not able to address the main issue in the assessment order. The bench stated that the problem does not appear to have been addressed by the assessing authority when issuing an order […]
The Mumbai ITAT restored the case to the AO, holding that denying the Section 10(25)(ii) exemption solely because the assessee used the wrong ITR form was only a procedural lapse. The taxpayer, Tata International Limited Provident Fund, whose income was waived u/s Section 10(25)(ii) of the Act, had filed its income return in Form ITR-7 […]
Under the Ministry of Finance, the Central Board of Direct Taxes (CBDT) has issued Notification No. 155/2025, authorising the Commissioner of Income Tax, Centralised Processing Centre (CPC), Bengaluru, to exercise concurrent powers under the Income-tax Act, 1961. The Commissioner, CPC Bengaluru, under the notification, can now- Such powers apply to all cases where the orders […]
The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has issued two important notifications, No. 151/2025 and No. 152/2025, dated October 15, 2025. These notifications grant income tax exemptions to two entities: the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) and the Rajasthan State Seed and Organic Certification Agency (RSSOCA). Published […]
