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Latest Articles


Supreme Court Drew Tax-Fee Line Due to Quid Pro Quo

Income Tax : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...

June 13, 2026 195 Views 0 comment Print

TDS on Residential Rent paid by companies : 2% vs 10% rule

Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...

June 12, 2026 1905 Views 0 comment Print

ITAT Allows Final Section 35D Deduction and ESOP Recharge Expense

Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...

June 12, 2026 183 Views 1 comment Print

Section 62(4) of Income-tax Act 2025: Closed List of Specified Professions Remains Unreformed

Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...

June 11, 2026 297 Views 0 comment Print

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 456 Views 0 comment 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 6091 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 249 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 1677 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 3774 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 3975 Views 0 comment Print


Latest Judiciary


DTVSV Settlement Does Not Render Reassessment Order Non Est for Section 154 Limitation

Income Tax : The ITAT Mumbai held that settlement under the Direct Tax Vivad Se Vishwas Scheme does not extinguish the legal existence of a rea...

June 13, 2026 12 Views 0 comment Print

Business Expenses Cannot Be disallowed on Mere Suspicion: ITAT Mumbai

Income Tax : The Tribunal held that business promotion and development expenses cannot be disallowed without concrete evidence establishing the...

June 13, 2026 12 Views 0 comment Print

Section 271(1)(c) Penalty Deleted for Cash Deposits Linked to Earlier Withdrawals

Income Tax : The ITAT Agra declined to condone an extraordinary delay of 2,799 days in filing the quantum appeal, holding that the explanation ...

June 13, 2026 9 Views 0 comment Print

ITAT Pune Directs Exclusion of Mutual Funds & Tax-Free Bonds While Computing Rule 8D Disallowance

Income Tax : ITAT Pune ruled that investments in mutual funds and tax-free bonds should not form part of the investment pool for Rule 8D(2)(ii)...

June 13, 2026 18 Views 0 comment Print

ITAT Agra Quashes Reassessment for initiation on a Non-Existent PAN

Income Tax : ITAT Agra held that reassessment proceedings framed using a PAN surrendered years earlier were invalid. Since the assessment was b...

June 13, 2026 24 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 46608 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 606 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 516 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 189 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 159 Views 0 comment Print


CBDT notifies Cost Inflation Index for Financial Year 2023-24

April 10, 2023 20697 Views 0 comment Print

CBDT notifies Cost Inflation Index for Financial Year 2023-24 at 348 vide Notification No. 21/2023-Income Tax Dated: 10th April, 2023. Cost inflation Index for Financial Year 2022-23 was 331 so Increase in Cost Inflation Index for FY 2023-24 is mere 5.14%.  MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification […]

Say No To Cash

April 10, 2023 11406 Views 2 comments Print

The shift towards a Cashless economy is strongly debated among Central Governments, Central Banks, and Financial Experts. Indeed the proliferation of new mobiles and instruments brings a revolution to the nature of the payment landscape. Well, Government strongly argues for a digital economy because they think that this will help to control tax evasion and money Laundering

Significance of Residency Status & DTAA Benefits: Insights from Indian Case Laws

April 10, 2023 1794 Views 0 comment Print

Explore key Indian case laws highlighting the significance of residency status and Double Taxation Avoidance Agreement (DTAA) benefits. Understand how these legal precedents impact tax liability and benefits under DTAA. Stay informed for effective tax planning. Disclaimer: This information is for educational purposes only and not legal advice.

Exemption u/s 54F are beneficial provisions and hence are to be construed liberally

April 10, 2023 5457 Views 0 comment Print

ITAT Mumbai held that exemption provisions of section 54F of the Income Tax Act are beneficial provisions and are to be construed liberally. Accordingly, as assesse invested in one residential property, exemption u/s 54F duly available.

Criminal case quashed as delayed payment of tax was not a willful attempt to evade tax

April 10, 2023 2541 Views 0 comment Print

Telangana High Court allowed the Criminal Petition as delayed payment of tax was on account of cogent reasons i.e. financial difficulty and was not on account of any willful attempt to evade tax.

Waiver of loan not taxable u/s. 28(i) as it is not a business income

April 10, 2023 4227 Views 0 comment Print

ITAT Pune held that waiver of loan is not taxable under section 28(i) of the Income Tax Act as the same is not a business income.

Penalty for not getting books audited not leviable once penalty for non-maintenance of books levied

April 10, 2023 2586 Views 0 comment Print

ITAT Jaipur held that once the penalty is levied for non-maintenance of book of accounts, there cannot be further default for not getting the same audited as required u/s 44AB of the Act and therefore, the penalty levied u/s 271B is not justified.

Notice u/s 148 beyond the period of six years is barred by limitation

April 10, 2023 38340 Views 0 comment Print

Gujarat High Court held that issuance of notice for reassessment under section 148 of the Income Tax Act beyond the period of six years from the end of the relevant assessment year is barred by limitation.

UAE Small Business Relief- A Deep Dive

April 10, 2023 2994 Views 0 comment Print

Small Business Relief is intended to support start-ups and other small or micro businesses by reducing their Corporate Tax burden and compliance costs. The Ministerial Decision on Small Business Relief specifies the revenue threshold and conditions for a taxable person to elect for Small Business Relief and clarifies the provisions of the carried forward Tax Losses and disallowed Net Interest Expenditure under the Small Business Relief scheme.

Revisional power u/s 263 of Income Tax Act not exercisable in case of inadequate enquiry

April 10, 2023 1299 Views 0 comment Print

ITAT Chennai held that revisional power u/s 263 of the Income Tax Act exercisable only in case of lack of enquiry and not in case of inadequate enquiry.

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