Income Tax News
ICAI Proposes Optional Joint Taxation for Married Couples in Pre-Budget 2026-27 Suggestions
07 November 2025 at 06:32ICAI, in its Pre-Budget 2026-27 suggestions, has proposed optional joint taxation for married couples to promote fairness and family welfare.
CBDT Grants Income Tax Exemption to Karnataka Housing Board Under Section 10(46A)
06 November 2025 at 06:46CBDT grants income tax exemption to Karnataka Housing Board under Section 10(46A) of the Income Tax Act, effective from AY 2024-25. The notification ensures no adverse impact from its retrospective application.
Income Tax Department Withdraws Long-Pending Rs 8500 Crore Transfer Pricing Case Against Vodafone India
05 November 2025 at 09:39The Income Tax Department has withdrawn its Rs 8,500 crore transfer pricing case against Vodafone India Services Pvt. Ltd., ending a decade-long dispute linked to a 2008 business restructuring.
Income Tax Department Warns Taxpayers Against Fake Messages and Phishing Scams
04 November 2025 at 09:30The Income Tax Department warns taxpayers against fake emails and SMS phishing scams impersonating official communication.
ITAT Delhi Favors Taxpayer in Rs 8.68 Lakh Cash Deposit Case
03 November 2025 at 06:27The ITAT Delhi has ruled in favour of a taxpayer whose Rs 8.68 lakh cash deposit was wrongly treated as business income under Section 44AD, holding that the Assessing Officer exceeded his jurisdiction in a limited scrutiny case.
PMLA Court Denies Bail to IPS Officer's Husband in Rs 263 Crore IT Refund Scam
03 November 2025 at 06:26A special PMLA court has rejected the bail plea of Purushottam Chavan, husband of an IPS officer, in a ₹263 crore income tax refund scam, citing the gravity of the economic offence and lack of medical urgency.
Tax Community Shocked as ITAT Endorses 22% Tax on LTCG Under Section 115BAA
03 November 2025 at 06:26In a controversial ruling, the ITAT has upheld a 22% tax on long-term capital gains, equating it with the corporate tax rate u/s 115BAA, a decision tax experts say ignores legislative intent and could invite arbitrary tax demands.
ITAT Mumbai Quashes Rs 445 Crore Tax Demand Against Netflix India
01 November 2025 at 06:41The ITAT Mumbai has quashed a Rs 445-crore transfer pricing demand against Netflix India, ruling that the company operates as a limited-risk distributor and not a content or technology provider.
Navi Mumbai Income Tax Officer Duped of Rs 44 Lakh in Matrimonial Scam
01 November 2025 at 06:41Navi Mumbai Income Tax Inspector loses Rs 44 lakh in a Shaadi.com matrimonial scam; Nerul Police register FIR against four accused.
Allahabad HC Orders Income Tax Dept to Pay Compensation After Seized Jewellery Stolen from Bank Locker
31 October 2025 at 06:39The Allahabad High Court has ordered the Income Tax Department to compensate a taxpayer after jewellery worth over Rs 90 lakh, seized during a tax raid, was stolen from a bank locker where it was stored for safekeeping.
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