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Latest Articles


Section 50C Cannot Create Income Under Section 56: Statutory Analysis

Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...

July 9, 2026 258 Views 0 comment Print

10 Transactions Requiring Shift From ITR-1 to ITR-2 or ITR-3

Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....

July 9, 2026 2379 Views 0 comment Print

ITR Filing Due Dates for FY 2025-26 (AY 2026-27)

Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...

July 9, 2026 591 Views 0 comment Print

Red Alert: Capital Gains Tax on US-Listed RSU/ESOP Share Sales

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...

July 9, 2026 240 Views 0 comment Print

ITR-1, ITR-2 or ITR-4: Choosing Correct Return Form for AY 2026-27

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...

July 9, 2026 150 Views 0 comment Print


Latest News


Request to Enable Section 270AA Immunity Applications for Misreporting Cases

Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...

July 8, 2026 384 Views 0 comment Print

Advance Tax Collections Grow 15.30% due to Higher Corporate Tax Payments

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...

June 19, 2026 321 Views 0 comment Print

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 6319 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 378 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 2265 Views 0 comment Print


Latest Judiciary


Section 37(1) Commission Disallowance Deleted Despite Unserved Section 133(6) Notices: ITAT Kolkata

Income Tax : ITAT Kolkata deleted the commission disallowance under Section 37(1), holding that non-service of Section 133(6) notices alone can...

July 10, 2026 45 Views 0 comment Print

Section 148 Notice Issued by Officer Lacking Jurisdiction is Void: ITAT Raipur

Income Tax : ITAT Raipur quashed reassessment after holding that the Section 148 notice was issued by an officer lacking jurisdiction under CBD...

July 10, 2026 51 Views 0 comment Print

Section 68 Deletion Set Aside for Lack of Speaking Findings on Genuineness: ITAT Mumbai

Income Tax : ITAT Mumbai remanded a Section 68 case after holding that the CIT(A) deleted the addition without examining investor financials or...

July 10, 2026 51 Views 0 comment Print

Assessment Set Aside as ‘Legal Heir’ Not Automatically ‘Legal Representative’: ITAT Agra

Income Tax : ITAT Agra set aside assessment framed against a mere legal heir after holding that Section 159 requires proof of legal representat...

July 10, 2026 51 Views 0 comment Print

Section 69 Addition Unsustainable When Land Transactions Were on Employer’s Behalf: ITAT Delhi

Income Tax : ITAT Delhi upheld deletion of a Section 69 addition, holding land transactions were executed by the assessee as employers authoris...

July 10, 2026 69 Views 0 comment Print


Latest Notifications


CBDT Authorises Upload of AEOI Information in Form 168 Under AIS

Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...

July 9, 2026 411 Views 0 comment Print

CBDT Authorises Upload of AEOI Information in Form 26AS Under AIS

Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...

July 9, 2026 636 Views 0 comment Print

CBDT Clarifies Safe Harbour Rules for Rough Diamond Sales in Special Notified Zones

Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...

July 9, 2026 114 Views 0 comment Print

No TDS on IFSC Aircraft Lease Rent Subject to Form 1(N): CBDT

Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...

July 9, 2026 129 Views 0 comment Print

CBDT Notifies NCCL Core Settlement Guarantee Fund Under Section 11

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...

July 8, 2026 111 Views 0 comment Print


TDS Demand Pending Due to PAN–Aadhaar Non-Linking: What to Do?

March 21, 2026 4632 Views 0 comment Print

The framework clarifies that relief from higher TDS/TCS applies only within specific timelines under CBDT circulars. PAN activation alone does not remove past demands automatically.

ITAT Bangalore: Co-op SBN deposits not per se unexplained; Sec 68 remanded

March 21, 2026 396 Views 0 comment Print

The issue was whether demonetisation cash deposits can be taxed as unexplained credits solely due to use of SBN. The ITAT held that proper explanation and records negate automatic addition under section 68.

ITAT Mumbai rejects 8% estimation for non-audit u/s 44AB; adopts 2.5% profit based on assessee’s offer

March 21, 2026 9624 Views 0 comment Print

The case examined if failure to conduct audit permits arbitrary profit estimation. The ITAT ruled that absence of audit alone cannot justify 8% estimation when books are maintained and not rejected.

ITAT Mumbai deletes ₹21.99L Sec 69B addition; third-party statement without cross-examination held invalid

March 21, 2026 822 Views 0 comment Print

The case involved addition for alleged on-money payment based on search findings of a builder. The ITAT ruled that absence of corroborative evidence and denial of cross-examination makes the addition unsustainable.

Deduction u/s. 80G not deniable merely because payment forms part of CSR expenditure

March 21, 2026 1212 Views 0 comment Print

ITAT Mumbai held that deduction claimed by the assessee under section 80G of the Income Tax Act cannot be denied merely on the ground that the payment also formed part of CSR expenditure under the Companies Act.

Revision u/s. 263 not sustained as possible alternative view taken by AO

March 21, 2026 615 Views 0 comment Print

ITAT Chennai held once the AO has conducted inquiry, examined replies and adopted a legally sustainable view, the same cannot be treated as erroneous. Accordingly, invocation of revisionary jurisdiction under section 263 of the Income Tax Act is not sustainable in law.

Capital Payment for Land Purchase Cannot Be Disallowed Under Section 40A(3): ITAT Nagpur

March 21, 2026 831 Views 0 comment Print

The Tribunal held that cash payments for land purchase cannot be disallowed under Section 40A(3) if not claimed as expenditure. Since the amount was capital in nature, the addition was deleted. The ruling clarifies the scope of disallowance provisions.

Late Filing of Return Does Not Bar Section 80P Deduction for Pre-2018 AYs: ITAT Mumbai

March 21, 2026 564 Views 0 comment Print

The Tribunal held that filing return after due date does not disqualify deduction under section 80P for AYs prior to 2018. It ruled that denial on this ground was incorrect and required rectification.

Section 272A(1)(d) Penalty Deleted as Assessment Completed U/s. 143(3) Despite Non-Compliance

March 21, 2026 1854 Views 0 comment Print

The case involved Penalty Under Section 272A(1)(d for failure to comply with notices during assessment. The Tribunal ruled that completion under section 143(3) negates the basis for penalty.

Section 87A Deduction Allowed as Income Below Rs 7 Lakh Despite Computation Errors

March 21, 2026 1365 Views 0 comment Print

The Tribunal examined denial of rebate due to technical computation issues. It held that deduction must be granted as income was below ₹7 lakh and statutory conditions were satisfied.

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