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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 Court held that an Assessing Officer’s quasi-judicial decision cannot attract disciplinary action merely because another view was possible. Absence of mala fides or lack of integrity defeated the misconduct charge.
The Tribunal admitted lenders’ tax returns and bank statements and remanded the Section 68 issue for fresh examination. The matter was sent back for verification of identity, creditworthiness and genuineness.
The Tribunal held that property investment funded through documented foreign remittances from the assessee’s husband could not be treated as unexplained. Bank records and remittance confirmations established the complete source of funds.
ITAT Mumbai held that additions under Sections 68 and 69C could not be sustained where the Revenue relied only on generalized investigation findings. The Tribunal found no evidence linking the assessee to any accommodation entry arrangement and deleted both additions.
ITAT Mumbai held that the assessee had fully explained the source of investment through bank records showing direct payment by her father. The addition under Section 69 was deleted as unsupported by evidence.
ITAT Mumbai held that disallowance under Section 14A must be computed only with reference to investments that actually yielded exempt income. The Tribunal also deleted interest disallowance after finding that the assessee’s interest-free funds exceeded its investments.
The ITAT held that FTC cannot be denied solely because Form No. 67 was filed after the due date. It ruled that the filing requirement is procedural and does not extinguish the taxpayer’s substantive right to foreign tax credit.
ITAT Bangalore restored the issue of consultancy fee deduction to the Assessing Officer after noting that additional evidence relating to services rendered had not been examined. The Tribunal directed a fresh review of the expenditure claim in light of the new material.
The Delhi ITAT upheld deletion of a penalty after finding that the show-cause notice failed to specify the applicable limb of Section 271(1)(c). The ruling reiterates that an ambiguous penalty notice can invalidate penalty proceedings.
ITAT held that reimbursement of salary costs of seconded employees could not be treated as Fees for Technical Services where the Indian company exercised exclusive control and supervision. The Tribunal found a clear employer-employee relationship during the secondment period and deleted the addition.
