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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 : ITAT Panaji held BSNL VRS-2019 compensation is retrenchment compensation exempt under Section 10(10B), set aside CIT(A) orders, an...
Income Tax : ITAT Pune held BSNL VRS compensation exempt under Section 10(10B), condoned delay in filing appeals, and directed grant of refund ...
Income Tax : ITAT Ahmedabad condoned delay in filing appeal and allowed Section 10(10B) exemption claim for BSNL VRS compensation, making the a...
Income Tax : ITAT Delhi deleted TP adjustments on export commission and model fee, allowed Section 80G claim principles, and granted relief on ...
Income Tax : ITAT Delhi held that disallowance of CSR expenditure under Section 37(1) does not prevent Section 80G deduction for eligible donat...
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...
The Tribunal held that transfer pricing analysis should focus on international transactions rather than entity-level profitability where segmental data is available. The case was remanded for fresh consideration of comparables and ALP determination.
The Delhi ITAT ruled that no installation or supervisory PE existed in India as the activities did not exceed the 120-day threshold under the India-Canada DTAA. Consequently, income attribution to the alleged PE was held to be unsustainable.
The ITAT held that a penalty under Section 271AAC could not be decided independently when the underlying assessment had already been remanded for fresh adjudication. The penalty issue was restored to the AO for reconsideration after completion of quantum proceedings.
The Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter was remanded while directing the assessee to cooperate.
The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-trade. Notional rent, if any, could be computed only after conversion into investment property, with statutory deductions also being available.
Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, regardless of label.
Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct rate depends on whether the arrangement is a pure lease, equipment rental, or a service contract.
Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). The Tribunal ruled that rectification under Section 154 was valid as the omission was a mistake apparent from the record.
Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE without adequate evidence. The Tribunal upheld revenue sharing based on actual functions performed by overseas offices.
Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are exempt under the doctrine of mutuality. Surplus generated from such receipts does not constitute taxable income.
