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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 817413 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 102 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 132 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 154742 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 370233 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


ITAT Deletes Section 270A Penalty as AO Failed to Identify Correct Default

Income Tax : The ITAT held that penalty under Section 270A could not be sustained because the Assessing Officer failed to clearly distinguish b...

June 23, 2026 9 Views 0 comment Print

Delhi HC Grants Section 270AA Immunity as Penalty Notice Failed to Specify Misreporting

Income Tax : The Delhi High Court held that immunity under Section 270AA could not be denied when the penalty notice did not specify whether th...

June 23, 2026 9 Views 0 comment Print

No Capital Gains Addition as Dumb Document Alone cannot Prove On-Money Receipt

Income Tax : Tribunal ruled that an unsigned and uncorroborated loose sheet lacking essential transaction details could not form the sole basis...

June 23, 2026 9 Views 0 comment Print

Section 69 Addition Deleted as Seized Loose Sheet Lacked Corroborative Evidence

Income Tax : The Tribunal held that an addition under Section 69 could not be sustained solely on the basis of a seized loose sheet without ind...

June 23, 2026 12 Views 0 comment Print

₹6.40 Crore Addition Deleted as Revenue Failed to Corroborate Seized Document

Income Tax : The High Court upheld the Tribunals finding that an uncorroborated loose Excel sheet could not sustain an addition of alleged on-m...

June 23, 2026 27 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 49698 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 807 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


SC on income from property: Is it is chargeable as house property Income or business income

May 14, 2017 6678 Views 0 comment Print

merely because there is an entry in the object clause of the business showing a particular object, would not be the determinative factor to arrive at a conclusion that the income is to be treated as income from business

Irrecoverable Bad debt in the course of business allowable as trading loss

May 14, 2017 3090 Views 0 comment Print

It has been held that ‘even though the expenditure is not admissible for the computation of the total income either as a bad debt or as an expenditure wholly incurred for the purpose of business, still, it can be allowed as an expenditure as a trading loss if it arises directly from carrying on the business and is incidental to the business.

Exemption cannot be denied to a Trust merely for Profits from Publishing / Selling of School Books

May 14, 2017 4410 Views 0 comment Print

The textbooks are provided by the Assessee to the students at subsidised rates. Even the textbooks books, reading materials and school bags are being distributed free to deserving students. The essential activity of the Assessee is connected with ‘education’ and nothing else.

Delhi HC allows IT exemption to VHP for ban period post Babri Masjid Demolition

May 13, 2017 1164 Views 0 comment Print

The division bench of the Delhi High Court confirmed the Income Tax exemption granted to the Viswa Hindu Parishad (VHP) for the period in which they were banned by the government under UAP Act.

No TDS to be deducted on Export Commission by Hero Motors to HMCL

May 13, 2017 2112 Views 0 comment Print

In CIT Vs. Hero Motor corp Ltd, the Delhi High Court held that the payment of export commission made by the Hero Motors to Honda Motor Co. Ltd (HMCL) was not in the nature of payment of royalty or fee for technical services attracting dis allowance under Section 40 (a) (i) of the Income Tax Act.

TP: When Resale Price Method can be used with respect to related parties

May 13, 2017 3249 Views 0 comment Print

Transfer Pricing Officer has selected RPM as most appropriate method for determining the arm’s length price of the transaction of sale of programmes and film rights to ATL in contrast to the TNM method selected by the assessee. The first controversy is as to whether the Transfer Pricing Officer was justified in selecting the RPM as most appropriate method.

HC on non-striking off of irrelevant clause in Section 271(1)(c) penalty SCN

May 13, 2017 3915 Views 0 comment Print

In the notice issued u/s 274 r.w.s. 271(1)(c) of the Act of even date, both the limbs of Sec. 271(1)(c) of the Act are reproduced in the proforma notice and the irrelevant clause has not been struck-off

Commission to doctors cannot be allowed unless vouchers been produced even if allowed in earlier years

May 13, 2017 1008 Views 0 comment Print

These appeals are filed challenging the orders passed by the Income Tax Appellate Tribunal, Cochin Bench, in ITA Nos. 120/08 and 119/08 pertaining to the assessment years 2002- 03 and 2001- 02. For the assessment years in question, the assessee had made deduction of payments said to have been made to doctors towards MRI Commission, CT Scan and USG Commission, Pathology Collection Commission and CT Commission National Hospital.

HC on allowability of depreciation & set off of deficit of earlier years claimed by Trust

May 13, 2017 2280 Views 0 comment Print

Assessee education-trust could claim depreciation on assets acquired for purpose of carrying out charitable activities and could also carry forward deficit of earlier years and set it off against income of current year.

ITAT releases Draft Income Tax Appellate Tribunal Rules, 2017

May 13, 2017 3927 Views 0 comment Print

Over a period of time, it was widely felt that the Income-tax (Appellate Tribunal) Rules, 1963, have outlived their utility to some extent in view of changing circumstances and the use of technology in the Tribunal’s functioning. In the times to come, the use of technology in the Tribunal’s day to day functioning will increase manifold. It is in this background that a need is felt to revisit the existing rules and substitute the same by the new rules. This committee was entrusted with the work of preparing the new Income Tax Appellate Tribunal Rules 2017 in the place of the existing Income-tax (Appellate Tribunal) Rules, 1963.

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