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Latest Articles


Taxation of Capital Gain in India – FAQs

Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...

June 24, 2026 495616 Views 165 comments Print

Carry Forward and Set Off of Losses with FAQs

Income Tax : Learn how taxpayers can set off losses against taxable income and carry forward unadjusted losses under the Income-tax Act. The FA...

June 24, 2026 1569886 Views 129 comments Print

Clubbing of Income under Income Tax Act, 1961 with FAQs

Income Tax : Learn when the Income-tax Act requires another person's income to be included in your taxable income. The FAQs explain clubbing pr...

June 24, 2026 932950 Views 80 comments Print

FAQs on Income from house property

Income Tax : Learn how rental income is taxed, who is treated as the owner, and how deductions under Section 24 are computed. The guidance also...

June 24, 2026 556927 Views 67 comments Print

Taxability of Gift received by an individual or HUF with FAQs

Income Tax : Learn when monetary, immovable, and movable property gifts become taxable under the Income-tax Act. The FAQs explain exemptions, t...

June 24, 2026 401772 Views 61 comments 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 219 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 6202 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 288 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 1887 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 3966 Views 1 comment Print


Latest Judiciary


Section 153C Assessment Set Aside as AO Failed to Record Year-Wise Satisfaction: ITAT Delhi

Income Tax : The ITAT Delhi held that a single satisfaction note covering multiple assessment years without identifying year-wise incriminating...

June 24, 2026 15 Views 0 comment Print

ITAT Quashes Section 153C Assessments as Consolidated Satisfaction Note for Multiple Years Was Invalid

Income Tax : The ITAT Delhi held that a single consolidated satisfaction note covering multiple assessment years without year-wise incriminatin...

June 24, 2026 15 Views 0 comment Print

ITAT Deletes Section 68 Addition as Sale Proceeds Were Realisation of Earlier Investment

Income Tax : The ITAT held that Section 68 could not be applied to sale proceeds received from investments already recorded in the books in an ...

June 24, 2026 15 Views 0 comment Print

Bangalore ITAT Converts Section 69A Addition into Estimated Business Income; Entire Sales Receipts Cannot Be Taxed

Income Tax : Bangalore ITAT held that customer deposits representing sale proceeds could not be taxed in full as unexplained money under Sectio...

June 24, 2026 Views 0 comment Print

Bangalore ITAT Deletes Section 69A Addition and Allows Section 80-IA Deduction; Consistency Principle Applied

Income Tax : Bangalore ITAT deleted the addition under Section 69A after holding that the assessee had satisfactorily explained the source of c...

June 24, 2026 36 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 49848 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 870 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 642 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 249 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 210 Views 0 comment Print


Voluminous documents produced by Assessee cannot be discarded merely on the basis of statement of two individuals

December 10, 2017 1389 Views 0 comment Print

Pr CIT Vs Paradise Inland Shipping Pvt. Ltd (Bombay High Court) Once the Assessee has produced documentary evidence to establish the existence of such Companies, the burden would shift on the Revenue-Appellants herein to establish their case. In the present case, the Appellants are seeking to rely upon the statements recorded of two persons who […]

Reopening of assessment not permitted if no Failure of Assessee to disclose material facts

December 10, 2017 1815 Views 0 comment Print

Assessing Officer expected the assessee to disclose, and which were necessary for his assessment but not disclosed. Therefore, factually speaking, we find enough weight in the plea canvassed that there has been no failure on the part of the assessee to disclose the material facts as required by the proviso to Sec. 147 of the Act and thus, in our view, the initiation of proceedings by issuance of notice u/s 147/148 of the Act was vitiated.

Section 153C Assessment is without Jurisdiction if documents seized not belongs to Assessee

December 10, 2017 4122 Views 0 comment Print

While dismissing the appeal filed by the revenue the Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that assessment under Section 153C of the Income Tax Act without jurisdiction when documents seized not belonged to the assessee is invalid.

Allowability of Investment in new asset after furnishing of return U/s. 54

December 10, 2017 2211 Views 0 comment Print

ITAT Ahmedabad clarifies Section 54: Exemption on capital gains for new property. Extended filing, capital gain scheme explained. Case details.

Assessment order not become nullity for mere non-issue of notice upon legal heirs

December 9, 2017 1701 Views 0 comment Print

The ld.counsel for the assessee while impugning the orders of Revenue authorities took us through section 159 of the Income Tax Act, 1961 and pointed out that as per sub-section (2) of section 159 notice upon legal heirs ought to have been issued by the AO, which the AO has failed to do so, and therefore, the assessment order is a nullity and deserves to be quashed.

CIT (A) should discuss or decide merits of case even in ex- parte decision

December 9, 2017 1860 Views 0 comment Print

Agra ITAT has remitted the file back to the CIT(Appeals) as CIT (Appeals) had just sustained Assessing Officer’s order without himself discussing or deciding the merits of the case.

ITAT upheld addition in for Undisclosed Income held in LGT Bank in Liechtenstein

December 9, 2017 2193 Views 0 comment Print

Mr. Hasmukh I. Gandhi Vs. Dy. CIT (ITAT Mumbai) In this case Information was received by CBDT from German Authorities about bank account held by a trust named as Manichi Trust where economically beneficial ownership of the assets is of the appellant and his family members. Specific details such as date of birth, residential address, […]

Addition based on Fake Sale deed is not sustainable

December 9, 2017 1830 Views 0 comment Print

The fact of the second sale was denied and the same arguments were put forth, namely that (i) the assessee had no knowledge of the second deal and (ii) the purchasers of the property Kanekleta Umengbhai Thakker and Umangbhai HiralalThakker had filed affidavits stating that they paid only Rs.3.70 crores and that the sale deed of Rs. 1.37 crores was executed by mistake.

CBDT extends date for linking of Aadhaar with PAN

December 8, 2017 19275 Views 2 comments Print

Under the provisions of recently introduced section 139AA of the Income-tax Act, 1961 (the Act), with effect from 01.07.2017, all taxpayers having Aadhaar Number or Enrolment Number are required to link the same with Permanent Account Number (PAN).

Income Tax Department suspends a DCIT for harassing taxpayer

December 8, 2017 1890 Views 0 comment Print

A complaint was received making serious allegations against Shri D. K. Meena, Deputy Commissioner of Income Tax, posted at Surendranagar in Gujarat Region for harassing a taxpayer in a scrutiny case with malafide intention.

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