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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
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 : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
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...
The case addressed disallowance of interest under Section 57 for lack of nexus. The Tribunal allowed the deduction, holding that consistency in earlier years and increased investments justified the claim.
The issue involved eligibility of interest from employee loans. The tribunal ruled that such income is not directly linked to core credit activity. Therefore, it is taxable as income from other sources
The issue involved taxability of interest earned from statutory deposits. The tribunal held that such income is attributable to business activities and qualifies for deduction. This highlights the importance of statutory obligations in determining tax treatment.
The Supreme Court dismissed the Revenue’s appeal citing unexplained delay and no merit in challenging the High Court ruling. The High Court had quashed reassessment for lack of facts specific to relevant assessment years.
The Tribunal held that mere non-payment or expiry of limitation does not amount to cessation of liability. In absence of actual benefit or remission, addition under Section 41(1) was deleted.
The issue involved wrong filing of Form 10BB instead of 10B. The tribunal held that correction before processing cures the defect. This ensures that genuine claims are not denied on technical grounds.
The content outlines key filing deadlines and highlights penalties for non-compliance. The takeaway is that timely filing and payment are essential to avoid additional charges.
The issue was whether Section 153C could apply when the assessees own premises were searched. The tribunal held that such a person is a searched person, making Section 153A applicable instead. Consequently, assessments under Section 153C were quashed for multiple years.
The issue concerned failure to follow tribunal remand directions on comparables. The ruling held that such non-compliance caused procedural irregularity, leading to exclusion of certain comparables and recomputation of ALP.
The case involved reopening of assessment on deduction under section 80P(2)(d). The Supreme Court dismissed the SLP as time-barred, leaving intact the High Court ruling that reassessment was invalid on a settled issue.
