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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...
A practical guide for salaried taxpayers to save capital gains tax through home reinvestment, 54EC bonds, tax-loss harvesting, and LTCG exemptions.
The Tribunal held that reliance on third-party statements without granting effective cross-examination amounted to a violation of natural justice. Consequently, the addition based on such statements could not survive.
The ITAT held that a transfer of jurisdiction under Section 127(2) is invalid if the assessee is not given a reasonable opportunity of being heard. As a result, notices issued by the transferee officers lacked legal validity and the assessment was quashed.
ITAT Surat held that the entire investment amount could not be treated as unexplained when the assessee had furnished supporting records relating to agricultural income and other sources. The Tribunal restricted the addition to 5% of the disputed amount and granted substantial relief.
The Tribunal accepted the assessee’s contention that the property could not have been transferred without compensating the occupants. The related payments were therefore held deductible from the sale consideration for capital gains purposes.
The ITAT held that penalty for misreporting of income cannot be levied when the underlying addition is based merely on estimation of profit. Estimated additions do not establish deliberate concealment or misreporting.
The ITAT held that mere working sheets showing interest calculations do not establish taxable income. The Revenue must prove actual accrual or receipt of interest before making an addition.
This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It highlights application of income, accumulation rules, anti-abuse provisions, and a detailed computation model for exempt and taxable income.
This guide explains how employees can claim relief when salary, pension, or other benefits are received in arrears or advance. It outlines the conditions, calculation method, and filing requirements under Section 89.
This guide explains how a Hindu Undivided Family is taxed based on its residential status and the status of its Karta. It highlights the scope of taxation for resident and non-resident HUFs under the Income-tax Act.
