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Income Tax : Article examines whether the MLI Principal Purpose Test has domestic effect under Section 90(1) following Nestlé SA and Sky High ...
Income Tax : Article examines whether Section 10(10D) exempts the entire life insurance maturity amount or only the income component, referring...
Income Tax : AMFI's Budget 2026–27 proposals seek mutual fund tax reforms, compliance simplification, tax neutrality and rationalisation of k...
Income Tax : Guest lecture and teaching income is generally taxed on actual income, with Sections 44AD and 44ADA stated as inapplicable to such...
Income Tax : NRIs must file ITR if Indian income exceeds Rs. 4 lakh or to claim excess TDS refunds, with Section 87A rebate unavailable to non-...
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : ITAT Agra quashed the Section 147 reassessment, holding the amount alleged to have escaped assessment was already included in the ...
Income Tax : ITAT Cuttack dismissed the appeal after noting the assessee's authorised representative appeared virtually without the prescribed ...
Income Tax : ITAT Mumbai deleted the bogus purchase addition and upheld deletion of the Section 69A gold addition after finding the purchases g...
Income Tax : ITAT Chennai remanded the Section 56(2)(x)(b) addition for fresh examination of DVO reference, condoned delay, and directed paymen...
Income Tax : ITAT Mumbai allowed ESOP deduction under Section 37, holding that ESOP discount is not a contingent liability and directing deleti...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
ITAT Delhi held Section 68 inapplicable where shares were disclosed in an earlier year and sale proceeds were already offered as income, avoiding double taxation.
ITAT Agra held Section 44AD could not apply where turnover exceeded the limit, adopted past profit history, allowed telescoping and deleted Section 43B addition.
The ITAT Pune held that the option exercised under Section 115BAC continues for subsequent years unless it is withdrawn or becomes invalid under the Act. It directed the AO/CPC to allow the new tax regime for AY 2023-24.
A consolidated guide to Income-tax Act threshold limits for AY 2026-27 covering exemptions, deductions, TDS, TCS, compliance and penalties. It serves as a comprehensive statutory reference.
Bombay HC disposed of Revenue appeals below ₹50 lakh, holding the CBDT exception added on 20 August 2018 applies prospectively, not retrospectively.
Punjab & Haryana HC upheld Section 153C notices, holding the satisfaction note was not belated and limitation objections should first be raised before the AO.
Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ordered reconsideration.
ITAT held an assessment passed after the taxpayer’s death was invalid in law, quashed the order, and treated all remaining issues as academic.
ITAT held that goodwill arising on amalgamation qualifies as a depreciable intangible asset. It also deleted the TP adjustment on overdue AE receivables.
Kerala High Court kept refund adjustment in abeyance, directing disposal of the pending rectification application before recovery action.
