Tribunal remands ₹88 lakh disallowance of long-term service award to the AO for fresh verification as employee-wise computation for the relevant year was not on record. Claim can be allowed only after ...

The Delhi High Court has held that internal disputes between the Directors of a company is not 'genuine hardship' under Section 119(2)(b) of the Income Tax Act 1961, preventing timely filing of ...

In 2026, the rules for property tax deduction underwent important changes — the limits were revised, the document submission ...

Gifts from relatives are exempt from tax, while gifts over ₹50000 from non-relatives are taxable. Gifts received during ...

What will the extra lucky winner do with their $875 million Powerball Jackpot? The odds of winning the jackpot are 1 in 292.2 ...

Lottery winning amounts are part of income from other sources, and they are liable for the income tax rate. Not just that, ...

The Tribunal held that the CIT(A) failed to pass a reasoned speaking order and dismissed the appeal ex-parte without proving deliberate non-compliance. The matter was remanded with one final ...

In a landmark decision on November 19, 2025, the ITAT Hyderabad ruled that severance packages is to be classified as taxable ...

Explore the significant delays in income tax refunds for FY 2024-25, their causes, including AIS mismatches and processing ...

What will the extra lucky winner do with their $820 million Powerball Jackpot? The odds of winning the jackpot are 1 in 292.2 million (slightly better than the 1 in 302.6 million odds for winning the ...

The Delhi High Court recently condoned the delay by an assessee in filing his Income Tax Return, citing his health condition as 'genuine hardship' under Section 119(2)(b) of the Income Tax ...