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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...
Kolkata ITAT upheld deletion of addition relating to alleged bogus penny stock loss after finding that the assessee had furnished contract notes, demat records, broker statements, and bank documents supporting the transactions.
Mumbai ITAT ruled that transfer of professional fees between branches through journal entries did not attract TDS liability. The Tribunal accepted ICAI records confirming the existence of the Ahmedabad branch.
The Supreme Court upheld the High Court ruling that approval stating fit case for reopening satisfied Section 151 requirements. The reassessment proceedings linked to alleged accommodation entries were restored.
Mumbai ITAT held that the CIT(A) cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on merits. The matter relating to TDS on payments to Facebook Netherlands was remanded for fresh consideration.
The ITAT Raipur held that additions for cessation of liability cannot be made merely because creditor confirmations were not filed when PAN details, ledger accounts, and other records were already submitted.
The Tribunal ruled that margins agreed under a Bilateral Advance Pricing Agreement may be used for non-covered AEs when transactions are functionally similar. The decision emphasized consistency and the lack of separate benchmarking by the TPO.
The Tribunal quashed the assessment after finding that the statutory conditions under Section 153C were not properly satisfied. It held that defective recording of satisfaction vitiated the entire proceedings against the third party assessee.
Mumbai ITAT observed that assessable value under customs law may differ from invoice value and such variation by itself cannot justify addition under Section 69C without further evidence.
Court held that there was no direct or indirect connection between the assessee and the handwritten inquiry register relied upon by the department. Statements recorded during search proceedings also did not mention the assessee.
The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ruled that brand promotion does not create an enduring capital asset or goodwill.
