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Income Tax : The article examines India's refund claim process after the belated ITR deadline, Section 119(2)(b), updated returns and suggested...
Income Tax : A checklist of key ITR filing points covering disclosures, deductions, AIS reconciliation, tax credits, reporting requirements and...
Income Tax : Learn ITR filing eligibility, applicable ITR forms, required documents, due dates, late filing penalties and how to choose the cor...
Income Tax : Section 63 of the Income-tax Act, 2025 prescribes tax audit thresholds for businesses and professionals and replaces Section 44AB ...
Income Tax : Explains new TDS/TCS forms, section references, Tax Year concept, revised TCS due date and Q1 compliance requirements under the In...
Income Tax : Direct tax collections as on 13 July 2026 show 16.11% growth in gross collections and 16.40% growth in net collections over the pr...
Income Tax : ITAT Bangalore held Section 2(47)(v) inapplicable as the JDA did not satisfy Section 53A conditions, deleting capital gains for AY...
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
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 : Hyderabad ITAT quashed Section 148 reassessment, holding actual escaped income below ₹50 lakh cannot justify extended limitation...
Income Tax : ITAT Chennai deleted an addition of ₹17.10 lakh after holding that it was based solely on third-party information and estimated ...
Income Tax : ITAT Mumbai upheld taxation of only 25% profit on alleged on-money receipts, rejected Section 69C addition of entire amount and su...
Income Tax : Chennai ITAT restored Section 12AA registration, holding uncorroborated capitation fee allegations alone cannot justify cancellati...
Income Tax : Chennai ITAT held that seized Tally data alone cannot justify bogus purchase additions without corroborative evidence, while susta...
Income Tax : CBDT notifies Social Protection Fund as a specified person for eligible investments in India until 31 March 2030, subject to presc...
Income Tax : CBDT notifies the Cost Inflation Index as 384 for FY 2026-27 under section 72(8)(a) of the Income-tax Act, 2025, effective from 1 ...
Income Tax : CBDT Notification No. 83/2026 grants Section 10(46) exemption to Baddi Barotiwala Nalagarh Development Authority for AYs 2024-25 t...
Income Tax : CBDT Notification No. 82/2026 grants Section 10(46) exemption to Baddi Barotiwala Nalagarh Development Authority, subject to speci...
Income Tax : CBDT Notification No. 81/2026 specifies Maharashtra's Principal Secretary for income-tax information sharing under Section 258 for...
ITAT Raipur held that departmental allocation of appeals cannot deny adjudication of a Section 115BAB claim and restored the matter for fresh decision.
ITAT Raipur held that CIT(A) must first decide the validity of reassessment proceedings before remanding the matter to the Assessing Officer.
ITAT Hyderabad remanded a Section 69A addition, holding that the AO must verify the sale agreement and supporting evidence instead of relying only on the buyer’s denial.
ITAT Kolkata upheld quashing of reassessment as notice under Sections 148/143(2) was issued by a non-jurisdictional Assessing Officer.
Hyderabad ITAT held that a trust’s net income, not gross receipts, should be taxed where Section 11 exemption is unavailable and remanded the matter.
Mumbai ITAT deleted Section 271D penalty, holding journal entry loan transfers during genuine group restructuring constituted reasonable cause under Section 273B.
Mumbai ITAT allowed bad debt deduction, holding proof of irrecoverability unnecessary after write-off and Section 36(2)(iv) inapplicable.
Mumbai ITAT deleted Section 270A penalty after holding that a bona fide ESOP income classification error did not warrant penalty once corrected.
Mumbai ITAT held only 1% profit on unaccounted sales was taxable and deleted additions relating to salary, cash, foreign currency and gold coin.
Karnataka HC dismissed the Revenue’s appeal, reiterating that a Section 148A(b) notice granting less than seven days for reply is unsustainable.
