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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 Tribunal ruled that the CIT(E) failed to properly consider the assessees replies, documents, and objections before rejecting the Section 12AB application. The matter was remanded for de novo adjudication.
This article explains how provisions of the Income Tax Act, GAAR, and the Benami law are used to tackle shell companies, unexplained cash credits, and money laundering operations in India.
ITAT Bangalore held that the presence of associate or nominal members does not disqualify a co-operative society from claiming deduction under Section 80P(2)(a)(i). The Tribunal relied on the Supreme Court ruling in Mavilayi Service Co-operative Bank Ltd.
ITAT Hyderabad held that assessment orders passed pursuant to earlier remand directions were barred by limitation under Section 153. The Tribunal set aside all consequential transfer pricing assessment orders dated 06.12.2024.
ITAT ruled that appellate powers under Section 251 are confined to assessment year under appeal. Directions to reopen completed assessments for another year were held beyond jurisdiction.
Delhi ITAT held that additions under Section 68 cannot be sustained merely on Investigation Wing reports without independent enquiry by the Assessing Officer. The Tribunal deleted additions relating to alleged bogus share capital.
Gujarat High Court held that reassessment proceedings based on loose papers referring to non-agricultural land could not justify reopening where assessee had sold agricultural land. Court ruled that alleged escapement of income was based only on hypothesis and conjecture.
The Supreme Court has framed substantial questions on whether DDT under Section 115-O is a tax on shareholder dividend income or on company profits. The ruling may determine applicability of DTAA treaty rates on dividend distributions to foreign shareholders.
Delhi ITAT held that a single consolidated satisfaction note covering multiple assessment years without identifying year-wise incriminating material is invalid under Section 153C. The Tribunal consequently quashed all related assessments.
Madras High Court held that time-share membership fees could not be fully taxed in the year of receipt since the assessee had continuing obligations extending over several years. The Court approved spreading part of the income over the membership tenure.
