The Income Tax Department has rolled out several important updates from December 1, 2025, aimed at improving compliance, enhancing accuracy, and speeding up refund processing. These changes will significantly impact both taxpayers and deductors. Here’s a complete breakdown. New Real-Time TDS …
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has delivered an important ruling on the applicability of the enhanced leave encashment exemption limit under Section 10(10AA). In the case reported as [2025] 180 taxmann.com 123 (Pune – Trib.), the Tribunal held that …
In a significant ruling reinforcing the binding nature of appellate orders, the Delhi High Court in Santosh Kumar Suri v. DCIT criticised the Income Tax Department for its prolonged delay in giving effect to an ITAT order that had granted relief …
In a significant ruling, the Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the Assessing Officer (AO) erred in treating the cash deposits of Specified Bank Notes (SBNs) made by a Non-Banking Financial Company (NBFC) as …
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that a delay in filing the audit report in Form 10B will not deprive a charitable trust of exemption under Section 11, provided it is duly registered under Section 12A and has otherwise …
In a significant ruling, the Delhi High Court clarified the tax treatment of payments made for using the goodwill and trade name of another firm. The Court held that when an assessee merely uses the goodwill of another entity without …
In a significant ruling on TDS compliance and prosecution under the Income-tax Act, the Delhi High Court in ITO (TDS) v. Delhi Iron & Steel Co. Pvt. Ltd. [[2025] 179 taxmann 643 (Delhi)] held that delay in depositing TDS without proof of genuine hardship constitutes an offence …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Indore Bench, held that a society registered under section 12AA in 2021 could still claim exemption under sections 11 and 12 for an earlier year, i.e., Assessment Year 2018-19, by virtue of the first proviso to section …
The case of Sterling Farm Research and Services Pvt. Ltd. v. Commissioner of Income Tax came before the Kerala High Court concerning the validity of a revisional order passed under Section 263 of the Income Tax Act, 1961. The dispute arose from the Assessment Year 2016–17, …
The Supreme Court of India is poised to deliver an important ruling that could reshape the compliance landscape for charitable and religious institutions across the country. The case concerns whether registration of a trust under Section 12AA of the Income Tax Act, 1961 — …
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently reaffirmed an important principle governing Section 41(1) of the Income Tax Act, 1961 — that an addition on account of remission or cessation of liability cannot be sustained in the absence of …
In a significant ruling that brings clarity to capital gains reinvestment timelines, the Income Tax Appellate Tribunal (ITAT), Mumbai has held that making the investment payment within two years from the date of sale is sufficient to claim Section 54F …
A charitable trust filed its return of income claiming exemption under Sections 11 and 12 of the Income-tax Act, 1961. The Assessing Officer (AO) denied the exemption on the technical ground that the trust’s audit report in Form 10B was not submitted along with …
In a significant ruling, the Delhi ITAT has quashed a reassessment initiated under Section 148 of the Income-tax Act after finding that approval under Section 151 was granted by the Commissioner instead of the Joint Commissioner — the competent authority …
In a significant relief to a retired government employee, the Income Tax Appellate Tribunal (ITAT), Cochin Bench, quashed a penalty imposed for “misreporting of income” under Section 270A(9) of the Income-tax Act, 1961. The Tribunal held that a bona fide and fully disclosed claim …
New Delhi, October 29, 2025 — In a major relief to taxpayers and professionals, the Central Board of Direct Taxes (CBDT) has announced an extension of the due dates for filing Income Tax Returns (ITR) and Tax Audit Reports for the Assessment Year 2025-26 under …
As the due date of 31 October 2025 approaches, thousands of businesses and professionals under audit are anxiously waiting for clarity from the Central Board of Direct Taxes (CBDT). The big question — will the government extend the ITR filing deadline for audit …
Every audit season brings a familiar question to every CA’s desk — “How many balance sheets can a Chartered Accountant sign?” For Assessment Year 2025–26 (FY 2024–25), the professional limits under the Income Tax Act and the Companies Act, 2013 remain unchanged. However, their practical …
In a landmark ruling that could reshape India’s digital-asset landscape, the Madras High Court has held that cryptocurrency qualifies as a form of “intangible property” under Indian law. The decision, delivered by Justice N. Anand Venkatesh, aligns India with global judicial thinking in jurisdictions such …
In a significant ruling that clarifies the evidentiary value of income tax documents in employment and compensation disputes, the Punjab and Haryana High Court has held that a firm’s income-tax records cannot be relied upon as standalone proof of an employee’s …