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Latest Articles


SC Order Settled the issue of Taxability of International Software Supply Transactions?

Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...

June 11, 2026 78 Views 0 comment Print

ITR Filing 2026: Important Due Dates, Budget 2026 Updates & Strategies

Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...

June 10, 2026 702 Views 0 comment Print

Sikkim: India’s Only Income Tax-Free State and the Law Behind It

Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...

June 10, 2026 261 Views 0 comment Print

8 Legal Ways to Save Income Tax in India for Business Owners & Freelancers

Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...

June 10, 2026 417 Views 0 comment Print

Section 54 Exemption for Capital Gains on Residential Property Transfer

Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...

June 10, 2026 97422 Views 4 comments Print


Latest News


Income Tax Superintendent Caught by CBI in Bribery Case Linked to PAN Deletion

Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...

June 6, 2026 6058 Views 0 comment Print

ITAT Prioritizes Old Appeals as Rising Pendency Requires Urgent Disposal Measures

Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...

June 5, 2026 231 Views 0 comment Print

Request for Rationalisation and Merger of TDS Return Codes 1023 & 1024

Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...

June 4, 2026 1620 Views 0 comment Print

Reduce CASS 2026 Scrutiny Cases Due to New Income Tax Act Transition Challenges: ITGOA

Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...

May 21, 2026 3738 Views 1 comment Print

Representation for timely release of e-filing utilities for ITR for AY 2026-27

Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...

May 13, 2026 3969 Views 0 comment Print


Latest Judiciary


Delhi HC Admits Appeal as ITAT Relied on Inapplicable Section 56 Provisions for Valuation

Income Tax : The Delhi High Court admitted appeals challenging the Tribunal's reliance on Section 56(2)(vii)(b) for directing a fresh valuation...

June 11, 2026 15 Views 0 comment Print

ITAT Restores Protective Addition as Substantive Addition Had Not Attained Finality

Income Tax : ITAT Ahmedabad held that a protective addition cannot be deleted merely because a substantive addition has been confirmed at the f...

June 11, 2026 45 Views 0 comment Print

Sales Accepted, Books Not Rejected: ITAT Cuts Bogus Purchase Addition to 5%

Income Tax : The Tribunal held that a 12.5% disallowance could not be sustained when the Assessing Officer neither rejected the books of accoun...

June 11, 2026 57 Views 0 comment Print

Part Payment Through Bank Does the Trick: ITAT Deletes Section 56(2)(vii) Addition Despite 7-Year Gap in Registration

Income Tax : Despite a significant gap between the agreement and registration dates, ITAT granted relief under the first and second provisos to...

June 11, 2026 36 Views 0 comment Print

ESOP Discount Allowed as Liability Accrues Over Vesting Period: ITAT Bangalore

Income Tax : The ITAT Bangalore upheld deduction of ESOP expenditure under Section 37, holding that the liability arising from employee stock o...

June 11, 2026 63 Views 0 comment Print


Latest Notifications


CBDT Issues Complete Income Tax Scrutiny Guidelines for FY 2026-27

Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...

June 7, 2026 45381 Views 1 comment Print

Income-Tax (Amendment) Commencement Ordinance, 2026

Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...

June 6, 2026 579 Views 0 comment Print

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act 2025

Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...

June 2, 2026 492 Views 0 comment Print

CBDT Approves National Institute of Advanced Studies as Scientific Research Institution  

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...

May 30, 2026 165 Views 0 comment Print

CBDT Approves S. Nijalingappa Sugar Institute for Scientific Research Tax Benefit Eligibility 

Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...

May 30, 2026 138 Views 0 comment Print


Addition confirmed by CIT(A) by passing ex-parte order needs fresh consideration: ITAT Visakhapatnam

November 13, 2024 738 Views 0 comment Print

ITAT Visakhapatnam remitted the matter since addition confirmed by CIT(A) by passing ex-parte order as assessee didn’t appeared nor complied to the notices. Accordingly, matter remitted back for fresh consideration.

CIT(A) directed to condone delay as it is alleged that addition is based on incorrect reporting by auditor

November 12, 2024 972 Views 0 comment Print

ITAT Bangalore directed CIT(A) to condone delay of 484 days in filing of an appeal and consider the issue on merits as it is alleged that the addition is made due to incorrect reporting by auditor.

Reversal of provision of inventory written off due to obsolescence allowed: ITAT Bangalore

November 12, 2024 2253 Views 0 comment Print

ITAT Bangalore held that deduction towards reversal of provision for inventory written off due to obsolescence allowable since the same stands offered to tax in the year in which provision was created.

Deemed rent u/s. 23(1)(a) not invocable as property leased out for continuous long period

November 12, 2024 1476 Views 0 comment Print

The assessee is engaged in the business of letting out buildings both residential and non-residential. The case of the assessee was selected for scrutiny and accordingly statutory notices u/s. 143(2) and 142(1) of the Act.

Weighted deduction u/s. 35(2AB) allowed as amount from DSIR qualifies as soft loan: ITAT Vishakhapatnam

November 12, 2024 741 Views 0 comment Print

ITAT Vishakhapatnam allowed weighted deduction under section 35(2AB) of the Income Tax Act since amount received from Department of Scientific & Industrial Research [DSIR] is soft loan and hence cannot be considered as grant-in-aid.

Source of capital investment explained hence addition u/s. 68 not sustained: ITAT Visakhapatnam

November 12, 2024 1173 Views 0 comment Print

ITAT Visakhapatnam held that addition under section 68 r.w.s. 115BBE of the Income Tax Act deleted as the source for capital investment properly explained by the assessee. Accordingly, addition deleted.

Non-admission of additional evidence by CIT(A) untenable: Matter remanded

November 12, 2024 1380 Views 0 comment Print

On verification of the bank account copies and the other material available before him, AO noticed that the assessee made cash deposits amounting to Rs. 24,31,000/- by way of Specified Bank Notes [“SBNs”].

CBDT Notification on Income Tax Exemption for PNGRB

November 12, 2024 1410 Views 0 comment Print

CBDT grants tax exemption to the Petroleum and Natural Gas Regulatory Board for AY 2024-25 under Section 10(46A) of the Income Tax Act, 1961.

Direct Tax Collections Update FY 2024-25 as of Nov 10

November 12, 2024 1236 Views 0 comment Print

Direct tax collections for FY 2024-25 have risen 21.2% gross, with a 15.41% net growth compared to the previous year, reflecting corporate and non-corporate gains.

Date of submission of claim recognised on accrual of cash incentive: Punjab & Haryana HC

November 11, 2024 600 Views 0 comment Print

Punjab and Haryana High Court held that date of submission of claim would be recognized on accrual of cash incentive and not from date of submission or receipt of cash incentive.

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