Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
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 Rajkot held that mere disallowance of expenditure during assessment proceedings does not automatically justify penalty under Section 271(1)(c). The Tribunal found no concealment or furnishing of inaccurate particulars by the assessee.
The Telangana High Court restored an income tax appeal after finding that notices were not sent to the consultant’s address mentioned in the appeal memo. The Court condoned a delay of 2913 days subject to payment of Rs. 50,000 as costs.
The Tribunal held that rental income earned from immovable property held under trust could not automatically be treated as business income. It ruled that the proviso to Section 2(15) was wrongly invoked where the trust’s dominant object remained charitable.
The ITAT Agra upheld deletion of a Section 14A disallowance after finding that the Assessing Officer mechanically applied Rule 8D without recording reasons for dissatisfaction. The Tribunal reiterated that such satisfaction is mandatory before invoking Rule 8D.
The ITAT Delhi held that an assessment order passed in the name of an amalgamated company that had ceased to exist was void ab initio. The Tribunal relied on settled law that jurisdictional defects involving non-existent entities cannot be cured under the Income Tax Act.
The Gujarat High Court held that revisional powers under Section 263 cannot be invoked merely because the Commissioner prefers another valuation method. The Court ruled that the Assessing Officer had conducted proper inquiry and adopted a plausible view based on the DVO report.
The ITAT Delhi held that reassessment notices issued after expiry of the surviving limitation period under the amended reassessment regime were invalid. The Tribunal quashed the reopening proceedings and related penalties for both assessment years.
A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions under the Income Tax Act, 2025. Covers practical examples and key compliance requirements for taxpayers.
A detailed guide explaining appellate procedures, drafting of grounds of appeal, and preparation of Statement of Facts under Income-tax law. The article highlights how proper drafting significantly influences appellate success.
The Delhi ITAT held that belated filing of Form No. 67 is only a procedural lapse and cannot extinguish substantive Foreign Tax Credit rights under sections 90/90A/91 and applicable DTAAs. The Tribunal directed verification and grant of FTC where the form was filed before completion of assessment proceedings.
