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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 Revenue treated a ₹2 crore accumulation disclosed in Form No. 10 as unaccounted income of the trust. The Tribunal ruled that procedural filings cannot substitute evidence of actual income and deleted the addition.
The Tribunal examined whether an incorrect statement of financial transactions filed by a bank could lead to reassessment and addition in the wrong person’s hands. It ruled that admitted reporting errors must be rectified and cannot form the sole basis for taxation.
The Revenue sought to tax software distribution income as royalty despite judicial precedents to the contrary. The Tribunal dismissed the appeal, reaffirming that software sales do not automatically attract royalty taxation.
The Revenue disallowed loan repayments alleging double deduction of charitable expenditure. The Tribunal ruled that documentary evidence established that no double claim had been made and directed deletion of the addition.
The issue was whether expenditure could be disallowed under Section 14A read with Rule 8D when the assessee had not earned any exempt income during the relevant year.
The issue was whether SBN deposits accepted by a co-operative society during demonetisation could be added under Section 68 solely because the notes ceased to be legal tender.
The Tribunal held that an incomplete document recovered from an employee’s laptop could not justify an addition under Section 69 without supporting evidence. The absence of cross-examination and independent verification weighed against the Revenue.
The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctrine of relating back applied. As a result, exemption under Sections 11 and 12 could not be denied for the relevant assessment year.
The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients’ taxes could not be treated as unexplained money. Documentary evidence showing corresponding tax payments led to deletion of the additions.
ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to the AO for verification of the alleged double taxation claim.
