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Latest Articles


Why Does India’s ITR Deadline Always Need an Extension?

Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...

June 9, 2026 2529 Views 1 comment Print

Comprehensive Guide to Maintenance of Books of Accounts

Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...

June 9, 2026 19722 Views 0 comment Print

Taxability of concessional or interest-free loan perquisite by Employee

Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...

June 9, 2026 46044 Views 1 comment Print

Taxation of Employee Stock Option Plan (ESOP)

Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...

June 9, 2026 41910 Views 0 comment Print

Updated Return of Income: Rules, Eligibility and Filing Process

Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...

June 9, 2026 14655 Views 0 comment Print


Latest News


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 6001 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 213 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 1560 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 3663 Views 1 comment Print

Representation for timely release of e-filing utilities for ITR for AY 2026-27

Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...

May 13, 2026 3939 Views 0 comment Print


Latest Judiciary


LTCG Exemption Denied as 3072% Returns Failed Human Test Probability

Income Tax : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...

June 9, 2026 60 Views 0 comment Print

SC Upholds LTCG Addition as Extraordinary Penny Stock Gains Defied Business Logic

Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...

June 9, 2026 72 Views 0 comment Print

Delhi HC Upholds LTCG Addition on Extraordinary 4910% Returns from Penny Stock

Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...

June 9, 2026 81 Views 0 comment Print

AO cannot finalize assessment before completion of DRP mechanism: Karnataka HC

Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...

June 9, 2026 84 Views 0 comment Print

Karnataka HC Rejects Ad Hoc Expenditure Disallowance as Books of Account were accepted

Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...

June 9, 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 42177 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 519 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 474 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 153 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 135 Views 0 comment Print


Satisfaction Note of 24.05.2021 Shifts Search-Year: ITAT Holds AY 2011-12 Outside Six-Year Block

November 30, 2025 471 Views 0 comment Print

ITAT Delhi held that AY 2011-12 is barred by limitation under Section 153C as the deemed search year started only when documents were received in 2021, nullifying the reassessment and related penalties.

Lack of Board Affiliation Not a Barrier: ITAT Remands Section 12A Application

November 30, 2025 705 Views 0 comment Print

ITAT Delhi held that operating a primary school itself constitutes “education,” removing the need for CBSE or DOE affiliation for 12A registration under the Income Tax Act.

Reassessment Found Erroneous for Not Applying Checkmate Law—Revision Justified

November 30, 2025 648 Views 0 comment Print

ITAT confirmed Section 263 revision after finding that the AO wrongly allowed delayed PF/ESI contributions despite binding Supreme Court law. The reassessment was deemed erroneous and prejudicial to Revenue.

How Income Tax Act 2025 Codifies Six Decades of Judicial Wisdom?

November 30, 2025 2556 Views 4 comments Print

The Income Tax Act, 2025 streamlines 800+ sections into 536, codifies decades of judicial rulings, and simplifies compliance for taxpayers and businesses.

DTAA Rates Override PAN-Based TDS under Section 206AA: SC

November 30, 2025 2073 Views 0 comment Print

The Supreme Court ruled that TDS on payments to non-residents cannot exceed treaty-specified rates, even if PAN is not provided, ensuring DTAA provisions prevail over Section 206AA.

Section 148 Notices Held Defective for Post-April Issuance Despite March Dating

November 29, 2025 894 Views 0 comment Print

The Court held that Section 148 notices dated 31 March 2021 but issued after that date could not be treated as issued within the old limitation period. The ruling applies the amended reassessment framework and the Supreme Court’s directions in similar cases.

TDS Rate for Non-Residents Governed by DTAA, Not Section 206AA: Delhi HC

November 29, 2025 717 Views 0 comment Print

The Delhi High Court held that TDS for non-residents without PAN should follow DTAA rates, not the 20% rate under Section 206AA. The ruling confirms treaty provisions override procedural domestic laws.

Assessment Set Aside as AO’s Letter Did Not Address Reopening Objections

November 29, 2025 474 Views 0 comment Print

The Tribunal noted that the Assessing Officers communication did not consider the assessees objections but only reiterated the basis of reopening. As the objections were not disposed of through a separate speaking order, the reassessment lacked jurisdiction. The ruling underscores that non-compliance with GKN Driveshafts cannot be treated as a mere procedural lapse.

Genuine Misunderstanding of VRS Exemption Not “Under-Reporting”

November 29, 2025 771 Views 0 comment Print

The Tribunal emphasized that an error regarding VRS exemption made by a salaried, non-technical taxpayer cannot be classified as deliberate under-reporting. With no false claim or suppression, the 270A penalty was deleted.

Retracted Statements Cannot Override Documentary Evidence: Additions Quashed

November 29, 2025 429 Views 0 comment Print

Genuine sale was established through invoices, stock records, ledgers, bank proofs, and direct buyer confirmations, leaving no room for Section 68 additions. ITAT held that when sales are proved, no commission can be presumed under Section 69C.

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