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Income Tax : Article examines whether the MLI Principal Purpose Test has domestic effect under Section 90(1) following Nestlé SA and Sky High ...
Income Tax : Article examines whether Section 10(10D) exempts the entire life insurance maturity amount or only the income component, referring...
Income Tax : AMFI's Budget 2026–27 proposals seek mutual fund tax reforms, compliance simplification, tax neutrality and rationalisation of k...
Income Tax : Guest lecture and teaching income is generally taxed on actual income, with Sections 44AD and 44ADA stated as inapplicable to such...
Income Tax : NRIs must file ITR if Indian income exceeds Rs. 4 lakh or to claim excess TDS refunds, with Section 87A rebate unavailable to non-...
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
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...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : ITAT Agra quashed the Section 147 reassessment, holding the amount alleged to have escaped assessment was already included in the ...
Income Tax : ITAT Cuttack dismissed the appeal after noting the assessee's authorised representative appeared virtually without the prescribed ...
Income Tax : ITAT Mumbai deleted the bogus purchase addition and upheld deletion of the Section 69A gold addition after finding the purchases g...
Income Tax : ITAT Chennai remanded the Section 56(2)(x)(b) addition for fresh examination of DVO reference, condoned delay, and directed paymen...
Income Tax : ITAT Mumbai allowed ESOP deduction under Section 37, holding that ESOP discount is not a contingent liability and directing deleti...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in Annual Information Statement Form 168 under section 239 and Rule 245(...
Income Tax : CBDT authorises DGIT (Systems) to upload AEOI information in AIS Form 26AS under sections 119, 90 and 90A, prescribing timelines a...
Income Tax : CBDT Circular 05/2026 clarifies safe harbour rules for foreign companies selling raw diamonds in Special Notified Zones, covering ...
Income Tax : CBDT Notification 74/2026 exempts TDS on eligible IFSC aircraft lease rent under section 393, subject to Form 1(N), effective from...
Income Tax : CBDT notifies NCCL's Core Settlement Guarantee Fund under Section 11 and Schedule III of the Income-tax Act, 2025, subject to spec...
In pursuance of the direction of this Court under Section 66(2), Indian Income-tax Act, 1922, in Miscellaneous Civil Case No. 143 of 1950, the Income-tax Appellate Tribunal, Bombay, has submitted the statement of case on the following question of law : “Whether on the material on record the Appellate Tribunal could reasonably come to a finding that the sum of Rs. 8,500 was an income undisclosed sources ?”
An assessment under section 23(3) of the Act cannot be made only on bare suspcion. An assessment so made without disclosing to the assessee the information supplied by the departmental representative and without giving any opportunity to the assessee to rebut the information so supplied and declining to take into consideration all materials which the assesses wanted to produce in support of his case constitutes a violation of the fundamental rules of justice and calls for the powers under Art. 136 of the Constitution.
CIT v. S Sen & Others (Orissa High Court) 17 ITR 355 (Orissa) The proceeding arises out of two application consolidated because of the facts being identical, by the Commissioner of Income-tax/Excess profits Tax, Bihar and Orissa, under Section 66(1) of the Income-tax Act read with Section 21 of the Excess profits tax Act for the stating a case and a case stated for the opinion of this Court on the following three question of law :-
