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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 817263 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 111 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 154727 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


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 51 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 72 Views 0 comment Print

Capital Contribution Held Explained as Partner Proved Source Through Land Sale: ITAT Hyderabad

Income Tax : The ITAT Hyderabad upheld deletion of a ₹68.75 crore Section 68 addition after finding that the partner had established the sour...

June 23, 2026 51 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 627 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


Loss on Foreign Cars Sale used in Business is ‘Business Loss

May 11, 2017 1179 Views 0 comment Print

Loss suffered by the assessee on the sale of foreign is quantified at a figure of Rs. 51,6,108/-. The only question that remains is to determine the nature of loss. In view of the categoric finding of the Commissioner of Income Tax (Appeals) that has attained finality, to the effect that the foreign cars were utilised in the business of the assessee, the loss arising out of their sale would be liable to be categorised as a business loss.

ITAT Judgment on year of taxability in case of JDA

May 11, 2017 5661 Views 0 comment Print

These cross appeals by the Revenue and by the assessee are directed against the order of the Commissioner (Appeals)-4,Chenaai dated 8-2-2016.

Introduction of digital filing as a step to paperless Supreme Court

May 11, 2017 888 Views 0 comment Print

The Prime Minister, Shri Narendra Modi, today uploaded the Integrated Case Management Information System on the Supreme Court website, which marks the introduction of digital filing – a step towards paperless Supreme Court.

Assessee allowed Deduction U/s. 54 depsite non completion of construction within 3 years

May 11, 2017 4197 Views 0 comment Print

This appeal of the assessee is directed against the order of the Commissioner (Appeals)-4, Chennai dated 19-8-2016 pertaining to assessment year 2012-13. 2. The only grievance in this appeal of assessee is non-granting of exemption under section 54 of the Act in respect of sale of the residential property.

In disputed matter evidence can be taken from video graphing: EPFO

May 11, 2017 1020 Views 0 comment Print

EPF Department in order to avoid disputes relating to number of employees employed by the employer and if there is no co-operation from employer or its agent / manager / any person in such circumstance, department has to utilise recording of panchanama by video graphing and insisting for installation of CCTV in and around factory premises. Thus in disputed matter evidence can be taken from video graphing,

Penalty notice without proper application of mind is invalid

May 11, 2017 2691 Views 0 comment Print

Where Assessing Officer issued two notices for imposition of penalty namely, one u/s 274 r.w.s. 271(1)(c) and second u/s 274 r.w.s 271AAA in cases where search u/s 132 of the Act has been initiated, then such notices issued by AO are untenable in law.

Truck terminus cannot be treated as building for providing resting /toilet facility

May 11, 2017 1371 Views 0 comment Print

Gotanagar Truck Terminus is a plant and not building, for the purpose of claiming depreciation under Section 32 read with Section 43 of the IT Act. Consequently the assessee is held entitled to depreciation at the rate of 25% as prescribed for plant and not at 10%, as applicable for building.

Defect in notice u/s 274 do not vitiates penalty proceedings; Addition for Bogus purchases U/s. 69C?

May 11, 2017 1872 Views 0 comment Print

Mere defect in the notice u/s 274 do not vitiates the penalty proceedings and no prejudice was caused to the assessee by non- marking of appropriate clause. Addition for Bogus purchases cannot be made under Section 69C as ‘unexplained expenditure’ if purchase are duly disclosed and payments are made through banking channels. The fact that the sellers are not traceable and the assessee surrendered the bogus purchases does not justify levy of penalty.

Income Tax Department made linking of PAN with Aadhaar easy

May 10, 2017 17679 Views 12 comments Print

The Income Tax Department has made it easy for taxpayers to link their PAN with Aadhaar. It was reported that taxpayers were finding it difficult as their names did not match in both systems (Eg. Names with initials in one and expanded initials in another). Responding to such grievances,the Dept has come out with a […]

Bogus purchases: HC remitted matter back and asked to follow Gujarat HC judgments

May 10, 2017 4773 Views 0 comment Print

Considering the law declared by the Supreme Court in the case of Vijay Proteins Ltd. Vs. Commissioner of Income Tax, Special Leave to Appeal (C) No.8956/2015 decided on 06.04.2015 whereby the Supreme Court has dismissed the SLP and confirmed the order dated 09.12.2014 passed by the Gujarat High Court and other decisions of the High Court of Gujarat in the case of Sanjay Oilcake Industries Vs. Commissioner of Income Tax (2009) 316 ITR 274 (Guj) and N.K. Industries Ltd. Vs. Dy. C.I.T., Tax Appeal No.240/2003 decided on 20.06.2016, the parties are bound by the principle of law pronounced in the aforesaid three judgments.

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