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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...
Delhi High Court held that even if the father may not qualify as a Class-I heir under succession law, he can still fall within the broader definition of legal representative for tax proceedings.
ITAT Indore held that delayed filing of Form 10E due to Covid-19 related circumstances should not automatically deny substantive relief under Section 89 if the assessee is otherwise eligible.
Tribunal directed inclusion of Cyber Media Research Limited after finding that market research and consultancy services were comparable to the assessee’s support service activities. Earlier Tribunal rulings supporting comparability were followed.
The guide explains that many income tax notices are generated automatically due to mismatches, filing errors, or compliance verification. It highlights the importance of understanding the notice type and responding correctly through the e-filing portal.
The Delhi ITAT deleted addition made under Section 68 on alleged bogus purchases linked to accommodation entry providers. The Tribunal held that purchases and corresponding sales were already recorded in the books, leaving no basis for separate addition under Section 68.
The Tribunal held that reassessment proceedings initiated against a deceased person are void ab initio. Since the department had prior knowledge of the death, failure to issue notice to the legal heir made the assessment invalid.
Ahmedabad ITAT held that cost of improvement could not be disallowed solely because suppliers’ VAT registrations were later cancelled retrospectively. The Tribunal remanded the matter for verification of supporting purchase and transportation documents.
The Tribunal noted that an adjustment under Section 35(1)(iv), already dropped during CPC processing, was later included in assessment computation without fresh notice to the assessee.
Mumbai ITAT held that disallowance under Section 40(a)(ia) cannot be made where expenditure remains part of work-in-progress and is not claimed in the profit and loss account. The Tribunal upheld adjustment of WIP instead of direct addition to income.
Agra ITAT held that the bank was liable under Section 201 for non-deduction of TDS on LFC involving foreign travel because no branch-specific interim judicial order was produced. The Tribunal distinguished earlier rulings that had granted relief based on specific High Court directions.
