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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 Mumbai deleted Section 69 and Section 69C additions, holding sale proceeds already taxed as capital gains cannot be taxed aga...
Income Tax : ITAT Raipur deleted Section 271(1)(b) penalties, holding no deliberate default was proved and delayed penalty proceedings defeated...
Income Tax : ITAT Chandigarh held interest earned on unspent government grants is not separate income and directed exemption under Section 10(2...
Income Tax : ITAT Delhi quashed Section 148 reassessment after holding reopening based solely on an Investigation Wing report lacked independen...
Income Tax : Jharkhand HC upheld conviction under Section 277 after finding the assessee claimed an income tax refund using forged TDS and hous...
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...
Draft Rule 273 of the Income-tax Rules, 2026 explains how film distributors can claim deduction for the cost of acquiring distribution rights depending on commercial release timing and sale or exhibition of rights.
Draft Rule 272 of the Income-tax Rules, 2026 explains when film producers can claim deduction of production costs depending on release timing, exhibition, and sale of rights.
Rule 271 of the Draft Income-tax Rules 2026 prescribes taxable percentages for income from rubber, coffee, and tea. Only a specified portion is treated as taxable business income.
The Tribunal upheld deletion of a Section 14A disallowance after noting that the taxpayer did not earn any exempt income in the relevant assessment year. The ruling reiterates that Section 14A cannot be invoked in the absence of exempt income.
Rules 269–270 of the Draft Income-tax Rules 2026 clarify how interest under Section 533(2)(u) is calculated and how income partly from agriculture and partly from business is determined.
Rules 266–268 of the Draft Income-tax Rules 2026 define procedures for inquiries, replacement of Inquiry Officers, and grant civil court powers to authorities during disciplinary proceedings.
Rules 262–265 of the Draft Income-tax Rules 2026 prescribe the procedure for issuing a charge-sheet, conducting inquiries, and passing disciplinary orders against income-tax practitioners accused of misconduct.
Rules 258–261 of the Draft Income-tax Rules 2026 lay down provisions for cancellation of registration certificates, removal of practitioners from the register, and mandatory inquiry before disqualification.
Draft Rules 254–257 establish procedures for authorised representation, registration, and certification of income-tax practitioners under Section 515 of the Income-tax Act.
The Tribunal ruled that simultaneous proceedings arising from reassessment and revision for the same year could lead to multiplicity of proceedings and inconsistent findings. It restored the entire matter to the Assessing Officer for consolidated de-novo adjudication.
