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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 ITAT Nagpur held that receipts reflected in Form 26AS cannot automatically be treated as taxable turnover without verification and reconciliation with books of account and service tax records. The matter was remanded to the AO for fresh examination and cross-verification.
The ITAT Ahmedabad held that a bona fide error in selecting the incorrect clause in a Section 12A application cannot be the sole reason for rejecting registration. The matter was remanded to the CIT(E) for fresh consideration on merits.
The ITAT Ahmedabad ruled that expenditure incurred on an abandoned wind power project in the same line of business was revenue in nature since no enduring asset was created. However, the issue was remanded to the AO for verification of supporting evidence.
The ITAT Nagpur held that only the gross profit embedded in unrecorded sales can be taxed and not the entire sales amount under Section 69A. The Revenue’s appeal seeking full addition was dismissed.
ITAT Delhi deleted a Rs. 50 lakh addition under Section 68 after finding that the investor company had directly responded to notices and furnished supporting documents. The Tribunal held that the identity, genuineness, and source of investment were adequately proved.
The Tribunal restored issues relating to comparable company margins and working capital adjustment after finding that the assessee’s submissions required verification. The appeal was allowed for statistical purposes.
ITAT Delhi upheld addition of Rs. 2.78 crore after finding that the assessee had voluntarily admitted undisclosed stock during survey and post-survey proceedings. The Tribunal held that later retraction without supporting evidence could not displace signed statements and inventory records.
The latest GST advisory requires mandatory reporting of Ship To GSTIN while generating E-Way Bills for Bill To – Ship To transactions. Unregistered consignees must be reported using “URP”.
The article explains that HRA exemption is unavailable under the new tax regime, which is why the HRA field may not appear in the ITR utility. Taxpayers must select the old regime to claim HRA benefits.
The ITAT examined additions based on alleged undisclosed sales and gross profit estimation after a search operation. The Tribunal held that industry-average GP rate should be adopted instead of the higher rate applied by the Assessing Officer and directed recomputation of income accordingly.
