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Latest Articles


One Mismatch Away from a Notice: How 3CD–ITR Gaps Trigger Scrutiny

Income Tax : Even genuine reporting differences between Form 3CD and the ITR can attract automated scrutiny. This article explains key reconcil...

June 22, 2026 45 Views 0 comment Print

Why 30 June Matters: Last Date for Section 143(2) Income Tax Scrutiny Notices

Income Tax : The article explains that 30 June is the Department's deadline to issue scrutiny notices for eligible returns, not a filing deadli...

June 22, 2026 54 Views 0 comment Print

Why You Shouldn’t Let AI File Your Income Tax Return Without Professional Review

Income Tax : AI can simplify tax work but cannot replace professional judgment in income tax filing. The article explains why human review rema...

June 22, 2026 51 Views 0 comment Print

Appellate Kill Shot to Reassessment Notices Under Section 148/148A

Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...

June 20, 2026 660 Views 0 comment Print

Every Foreign Asset Is Not a Black Asset: Lessons from Two Recent Tribunal Rulings

Income Tax : The Jaipur Tribunal held that every foreign asset or remittance cannot be treated as undisclosed wealth under the Black Money Act....

June 20, 2026 1101 Views 0 comment Print


Latest News


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 192 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 6175 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 282 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 1863 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 3948 Views 1 comment Print


Latest Judiciary


Pune ITAT: BSNL VRS Compensation Fully Exempt u/s 10(10B); Delay in Appeal Condoned

Income Tax : The ITAT held that BSNL employees are entitled to full exemption under Section 10(10B) for compensation received under the 2019 VR...

June 22, 2026 33 Views 0 comment Print

Section 263 Revision Quashed as AO Had Examined Section 80G Claim on CSR Expenses

Income Tax : The ITAT Mumbai held that revision under Section 263 was not justified where the Assessing Officer had examined and consciously al...

June 22, 2026 48 Views 0 comment Print

ESOP Discount Is Allowable Business Expenditure Despite Pending SLP: ITAT Mumbai

Income Tax : The ITAT Mumbai held that ESOP discount is an allowable deduction under Section 37(1), observing that the pendency of an SLP again...

June 22, 2026 66 Views 0 comment Print

Foreign Exchange Gain Is Operating Income as It Arises from Export of Services

Income Tax : The ITAT Delhi held that foreign exchange fluctuation gains arising from export of services must be treated as operating income fo...

June 22, 2026 63 Views 0 comment Print

Section 56(2)(viib) Addition Deleted as Shares Were Allotted to Existing Shareholders

Income Tax : The ITAT held that no addition under Section 56(2)(viib) was warranted where shares were allotted to existing shareholders and no ...

June 22, 2026 72 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 49497 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 783 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 612 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 234 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 192 Views 0 comment Print


Interest awarded in motor accident claim cases not exigible to tax

August 9, 2019 13290 Views 0 comment Print

Shri Rupesh Rashmikant Shah Vs Union of India & Ors. (Bombay High Court) In the context of interest, there are three crucial dates. The date of the accident is a date in reference to which the entire compensation is calculated. The date of filing of the claim petition is the date from which the claimant […]

Govt notifies Part I, IV, VI & VII of Chapter VI of Finance Act, 2019

August 9, 2019 3927 Views 0 comment Print

Government hereby appoints the 9th day of August, 2019, as the date on which the provisions of Part I, IV, VI & VII of Chapter VI of the Finance (No. 2) Act, 2019 (23 of 2019), shall come into force. PUBLISHED BY AUTHORITY MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 9th […]

Angel Tax relaxation to Startups even if addition was made before 19.02.2019

August 9, 2019 7626 Views 0 comment Print

Notification no. G.S.R. 127 (E) dated 19.02.2019 will be applicable to those Startup Companies also where addition u/s 56(2)(viib) has been made in an assessment order under the IT Act before 19thFebruary, 2019 provided the assessee has subsequently submitted the declaration in Form-2 that it fulfils the conditions mentioned in Para-4 of the above-referred notification.

LTCG from penny stocks cannot be treated as bogus if documentation is in order and no fault found by AO

August 9, 2019 5865 Views 0 comment Print

Chandra Prakash Jhunjhunwala Vs DCIT (ITAT Kolkata) FULL TEXT OF THE ITAT JUDGEMENT The captioned appeal filed by the Assessee, pertaining to assessment year 2014-15, is directed against the order passed by the Commissioner of Income Tax (Appeal)-21, Kolkata, which in turn arises out of an assessment order passed by the Assessing Officer u/s 143(3) […]

CAT directs govt to consider application rejected for delay in receipt of APARs for ITAT Member post

August 9, 2019 978 Views 0 comment Print

In these two OAs, the grievance of the applicants is that their applications for selection to the post of Member, Income Tax, Appellate Tribunal are not being treated as valid on account of the fact that their APARs were not received before the stipulated date i.e. 20.08.2018.

Check list for Cash deposited during demonetisation

August 9, 2019 25848 Views 0 comment Print

Board has earlier issued above referred SOPs/Instruction/Internal Guidance Note regarding handling of cases related to demonetisation. In continuation of the same, a Verification Checklist-cash deposits is enclosed herewith for providing assistance to AOs for verification of cash deposits and framing of assessment in demonetisation related

Applying NP rate of 2% based on earlier rates on suppressed receipts justified

August 9, 2019 1959 Views 0 comment Print

AO was not justified in adding the entire suppressed receipts after rejection of books of accounts while making assessment u/s 153A as CIT(A) was fair enough to apply 2% of net profit rate on the alleged suppressed receipts by taking basis of net profit rate disclosed by the assessee for various assessment years which ranges from 0.5% to 2.05%.

Govt notifies Multilateral Convention to implement Measures to Prevent BEPS

August 9, 2019 1383 Views 0 comment Print

Whereas the Multilateral Convention to Implement Tax Treaty related Measures to Prevent Base Erosion and Profit Shifting (hereinafter referred to as the “the said Convention”) was signed by India at Paris, France on the 7th day of June, 2017;

Time to Revisit Section 50C/43CA/56(2) – Adoption of Circle Rates

August 9, 2019 7734 Views 2 comments Print

Time to Revisit Section 50C/43CA/56(2) of Income Tax Act concerning Adoption of Circle Rates for Computation of Capital Gain/Business Profits/Income from Other Sources on Land & Building!! The Finance Act 2002 has introduced a new section 50C with effect from 1-4-2003, for the purpose of computation of capital gains in real estate transactions, in the […]

Time to Revisit Conventional Coercive Tax Recovery Measures

August 8, 2019 2295 Views 2 comments Print

Explore the flaws in conventional coercive tax recovery measures. This in-depth analysis highlights the need for a fresh approach to tax collection in our country.

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