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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...
ITAT Mumbai observed that the charitable trust had filed its original return within the due date prescribed under Section 139(1). The Tribunal directed fresh adjudication of the exemption claim instead of rejecting it on technical grounds.
Tribunal ruled that compliance with judicial orders restraining deduction of tax at source cannot attract liability under Sections 201(1) and 201(1A) of the Income Tax Act.
ITAT Delhi held that if Government money was fraudulently routed through the assessee’s account by another person, such deposits may not constitute the assessee’s income. The case was remanded for factual verification.
The assessee claimed that amounts deposited in bank accounts were retailer collections remitted to the telecom company and not commission income. The Tribunal directed the Assessing Officer to conduct proper verification.
The Madras High Court held that prosecution under Section 276CC was invalid because the Assistant Commissioner lacked jurisdiction over the assessee’s case. In absence of a transfer order under Section 127, the complaint was held unsustainable.
ITAT Delhi condoned a 333-day delay in filing appeal after finding the reasons stated by the assessee to be bona fide. The matter was remanded to the CIT(A) for fresh consideration.
ITAT Bangalore held that NIL taxable income disclosed by an Alternative Investment Fund does not automatically negate its creditworthiness. The Tribunal recognized the statutory pass-through taxation mechanism applicable to AIF structures.
ITAT Bangalore held that Section 45(5A) applies prospectively and cannot govern JDAs executed before 01.04.2018. Capital gains from older development agreements must be taxed under the law applicable in the year of transfer.
The ITAT Kolkata held that delayed filing of Form No. 67 cannot deprive an assessee of Foreign Tax Credit under Section 90 and the India-UK DTAA. The Tribunal treated the delay as a procedural defect.
The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research purposes. The approval remains valid from AY 2026-27 to AY 2030-31 and enables tax benefits linked to scientific research.
