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Latest Articles


Tax Deducted at Source (TDS): FAQs

Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...

June 23, 2026 817272 Views 206 comments Print

Section 161: Foundation of Transfer Pricing Regime under Income Tax Act, 2025

Income Tax : Learn how Section 161 of the Income-tax Act, 2025 establishes the arm's length principle for international and specified domestic ...

June 23, 2026 87 Views 0 comment Print

Step-by-Step Guide to Capital Gains Account Scheme (CGAS): Rules, Types & Documentation

Income Tax : Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to pr...

June 23, 2026 114 Views 0 comment Print

Master Guide on Filing Income Tax Return: Everything You Need to Know

Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...

June 23, 2026 154730 Views 17 comments Print

Computation of Income Tax: FAQs & Examples

Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...

June 23, 2026 370071 Views 22 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 213 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 6199 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 285 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 1872 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 3963 Views 1 comment Print


Latest Judiciary


Penny Stock LTCG Allegation Rejected as Revenue Produced No Assessee-Specific Evidence

Income Tax : The Tribunal held that the addition under Section 68 could not be sustained because the assessee produced complete documentary evi...

June 23, 2026 15 Views 0 comment Print

Section 10AA Deduction Allowed as AO Failed to Prove Business Splitting: ITAT Pune

Income Tax : The ITAT Pune upheld the deduction under Section 10AA after finding that the Assessing Officer had not established that the SEZ un...

June 23, 2026 54 Views 0 comment Print

ITAT Deletes Section 37(1) Disallowance as No Penal Action Was Taken by IRDA Against Insurance Company

Income Tax : The ITAT Mumbai held that Explanation 1 to Section 37(1) could not apply in the absence of any finding by the competent authority ...

June 23, 2026 42 Views 0 comment Print

ITAT upheld deletion of notional interest on interest-free advances to a subsidiary

Income Tax : The Mumbai ITAT upheld deletion of notional interest on interest-free advances to a subsidiary, finding the issue consistently dec...

June 23, 2026 48 Views 0 comment Print

Seized Diary Transactions Require Fresh Examination as Peak Credit Alone Is Insufficient: ITAT Pune

Income Tax : The ITAT Pune held that deletion of the addition was premature as the source of cash payments reflected in seized diaries had not ...

June 23, 2026 75 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 49680 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 804 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 636 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 243 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 207 Views 0 comment Print


Procedural rules cannot be ignored even if litigant is Government/ Revenue and Revenue should not follow tendency of blaming Advocate or procedural rules for dismissal of appeal

September 15, 2017 1284 Views 0 comment Print

Bombay High Court held in the case of CIT Vs. M/s. Parle Bisleri Ltd. that Procedural rules cannot be ignored even litigant is Government/ Revenue and Revenue should not follow tendency of blaming Advocate or procedural rules for dismissal of appeal

ITAT Section 54EC exemption for Investing in REC Bonds of Rs.50 Lakh each in 2 Financial Years for A.Y. prior to 2015-16

September 14, 2017 4275 Views 0 comment Print

Government only intended to restrict the investment in a particular financial year and accordingly has fixed the limit of Rs. 50,00,000/- as permissible limit in a particular financial year. The Government did not intend to restrict the maximum amount of exemption permissible under Section 54EC.

Tax Exemption cannot be denied to Trust not meant for one particular religious community

September 14, 2017 2424 Views 0 comment Print

It has been found that the activities of the Assessee Society, though both religious and charitable, were not exclusively meant for one particular religious community. It was, therefore, rightly not denied exemption under Section 11 of the Act.

Section 11 exemption cannot be denied for receipt of fees from non-members

September 14, 2017 966 Views 0 comment Print

Assessee is an association of professional and businessman to protect and promote the interest of its members. The income of the assessee is from membership fees from its members, specialized services, services and facilities, meetings, seminars and training programmes, sale of publication etc. It is also noted that the income of the assessee from other […]

Sec. 153C Seized incriminating materials should belong to person other than the person referred to in Section 153A

September 14, 2017 2601 Views 0 comment Print

Gujarat High Court in the  case of  Kamleshbhai Dharamshibhai Patel v. Commissioner of Income Tax-III, (2013) 31 taxmann.com 50 (Gujarat)  has categorically held that it is an essential condition precedent that any money, bullion or jewellery or other valuable articles or thing or books of accounts or documents seized or requisitioned should belong to a […]

Penalty U/s. 271D for cash deposit with Reasonable cause from identifiable agriculturists not justified

September 14, 2017 3270 Views 0 comment Print

Punjab and Haryana High Court held in the case of Pr. CIT Vs Tehal Singh Khara & Sons that Penalty under section 271D of Income Tax Act, 1961 not justified for Contravention of section 269SS if assessee had given reasonable cause for entering into the cash transactions, as creditors from whom the cash was received […]

CBDT asked to consider inclusion of Service Charge while assessing tax

September 13, 2017 1062 Views 0 comment Print

Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution told that in order to check the levying of Service Charge compulsorily, CBDT has been asked to consider inclusion of Service Charge while assessing tax.

Demonetisation helped in reducing volume of cash transactions: FM

September 13, 2017 807 Views 0 comment Print

Aadhar Legislation will stand the test of constitutionality; Demonetisation helped in reducing the volume of cash transactions and increase in digital payments, widening of the tax base and more formalization of the economy among others; No reverse in financial inclusion process possible for policy makers.

Cancellation of Assess Trust justified for accepting donation and giving back the same in cash

September 13, 2017 2604 Views 0 comment Print

These are appeals by the assessee against two orders both dated 25-2-2016 of C.I.T. (Exemptions), Kolkata (i) passed under section 12AA(3) of the Income Tax Act, 1961 withdrawing/cancelling the registration with effect from 1-4-2012

Income Computation and Disclosure Standard- II Valuation of Inventories

September 13, 2017 15474 Views 0 comment Print

ICDS does not specifically provide for the exclusion of WIP arising in the ordinary course of service provider. However it is also not specified any provision for the valuation of inventories.

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