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Income Tax : Analysis explains why Section 50C is a computation provision, discusses the First Proviso to Section 50C(1), and examines its stat...
Income Tax : Capital gains, business income, foreign assets, directorship and other transactions may make taxpayers ineligible to file ITR-1....
Income Tax : Know ITR due dates for FY 2025-26, belated and revised return deadlines, ITR-U timelines, late filing consequences and correspondi...
Income Tax : Learn how to report RSU and ESOP share sales for AY 2026-27, including capital gains, Schedule FA, Schedule CG, advance tax and di...
Income Tax : Know the eligibility, exclusions and key differences between ITR-1, ITR-2 and ITR-4 for AY 2026-27, including Section 139(9) and r...
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 : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Delhi ITAT upheld deletion of Section 68 additions after finding loans from the assessee’s wife and company were genuine and sup...
Income Tax : Bengaluru ITAT quashed Section 271D penalties as time-barred, holding the six-month limitation under Section 275(1)(c) expired bef...
Income Tax : ITAT Mumbai held that customs duty collections received by a CHA in a fiduciary capacity are not taxable under Section 69A and del...
Income Tax : ITAT Mumbai deleted the Section 69A addition, holding that cash deposits backed by recorded jewellery sales and accepted books can...
Income Tax : ITAT Mumbai deleted the Section 69A addition, accepting marriage gifts, past savings and retained cash as a satisfactory explanati...
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...
A comprehensive guide to limitation periods under the Income-tax Act, detailing statutory deadlines for returns, assessments, approvals, appeals, and other compliances to help taxpayers avoid procedural defaults.
CBDT FAQs clarify Section 536 transition rules for summons, searches, recovery, penalties, pending 12AB/80G approvals and LDC/NDC applications.
ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was deleted and remanded.
ITAT Mumbai deleted a Section 69 addition after finding documentary evidence established joint ownership, source of funds, and earlier acquisition of foreign investments.
ITAT Kolkata deleted the Section 68 addition, holding that share application money already assessed in subscribers’ hands cannot be taxed again in the company’s hands.
ITAT held interest from head office and overseas branches is not taxable as payment to self, while interest from overseas banks also fell outside Section 9(1)(v)(c).
ITAT Jodhpur held that Section 37(1) business expenses cannot be disallowed without specific findings on genuineness. All appeals were allowed and disallowances deleted.
Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizance.
ITAT Mumbai held that TDS credit cannot be denied where the employer deducted tax but failed to deposit it. Recovery must be made from the employer, not the employee.
ITAT Kolkata condoned appeal delay, set aside the CIT(A)’s order, and remanded the assessment for fresh adjudication after granting a fair hearing.
