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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....
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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...
ITAT Surat held that the Assessing Officer could not refer the property valuation to the DVO where the assessee had adopted a higher value based on a registered valuer’s report. The LTCG addition was deleted.
The Tribunal held that the Assessing Officer could not validly refer the valuation issue to the DVO for Assessment Year 2012-13. Since the statutory conditions were not met, the long-term capital gains addition was deleted.
ITAT Surat held that the Assessing Officer could not refer the property valuation to the DVO where the assessee had adopted a higher value based on a registered valuer’s report. The LTCG addition based on the DVO report was deleted.
The Tribunal held that a land sale completed before 01.07.2012 could not be subjected to a DVO reference under the amended Section 55A. Since the valuation reference was invalid, the long-term capital gains addition was deleted.
The Tribunal held that the Assessing Officer could not validly refer the property valuation to the DVO for Assessment Year 2012-13 under the unamended Section 55A. Since the valuation reference lacked legal authority, the addition to long-term capital gains could not be sustained.
The Tribunal held that the amended Section 55A could not be applied to a land sale completed before 01.07.2012. Since the DVO reference was not valid under the law then in force, the capital gains addition based on that valuation could not stand.
The Tribunal held that the amendment to Section 55A applies prospectively and could not be used for land transactions completed before 01.07.2012. As the assessee had relied on a registered valuers higher valuation, the DVO reference was declared invalid and the appeal was allowed.
The Tribunal held that the Assessing Officer could not validly refer the matter to the DVO for a transaction completed before the 2012 amendment to Section 55A. Capital gains were directed to be recomputed using the registered valuers report.
The Tribunal held that for AY 2011-12, the Assessing Officer could not refer property valuation to the DVO when the assessee relied on a registered valuers higher FMV. The capital gains computation based on the DVOs valuation was therefore set aside.
The Tribunal held that for Assessment Year 2010-11, a reference to the DVO was impermissible where the assessee’s declared value exceeded the department’s estimate. The resulting capital gains addition was therefore deleted.
