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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...
This guide explains the tax benefits, deductions, presumptive taxation schemes, and compliance relaxations available to small businessmen under the Income-tax Act. It provides a practical overview of the provisions applicable for AY 2026-27.
Bombay High Court held that non-compliance with Section 144B raised a jurisdictional issue requiring ITAT adjudication and set aside its order.
Gujarat High Court ruled that CBDT’s expert assessment of informant rewards is not open to judicial recalculation absent arbitrariness.
The Gujarat High Court held that a scientifically determined warranty provision qualified for consideration under settled legal principles and could not justify reopening. It quashed the reassessment after finding the Assessing Officer ignored the Supreme Court’s ruling and ICDS provisions.
ITAT Hyderabad deleted the Section 115BB addition after holding that the gaming platform’s records showed a net loss, not taxable winnings.
ITAT Chennai held that the assessees bona fide belief, based on the Departments consistent acceptance of interest income as Income from Other Sources, amounted to reasonable cause under Section 273B. The penalty under Section 271B was deleted.
ITAT held that where sales are accepted, the entire purchase amount cannot be added. The addition was restricted to 8% as the embedded profit element.
ITAT held that exemption under Sections 54/54F cannot be denied where sale proceeds are invested in a residential house within the prescribed period.
ITAT held BSNL VRS-2019 compensation is retrenchment compensation under Section 10(10B), exempt from tax, and reversed the CIT(A)’s order.
ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate restriction by the AO.
