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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...
Pune ITAT held that appellate authorities must adjudicate issues raised in appeals and cannot mechanically dismiss matters for non-compliance. The Tribunal restored the case for fresh consideration on merits.
Pune ITAT observed that reassessment proceedings initiated beyond three years may not be maintainable where the alleged escaped income is below ₹50 lakh. The matter was remanded for verification of jurisdictional facts and statutory notices.
The High Court clarified that completed assessments do not abate upon search proceedings because no assessment proceedings remain pending. However, the earlier assessment loses enforceability after a fresh Section 153A assessment is passed.
The Tribunal held that deducting TDS only on part of the purchase price of immovable property was contrary to Section 194IA. TDS was required to be deducted on the full consideration of ₹4.81 crore.
ITAT Chandigarh ruled that general expenses could not be disallowed merely on suspicion or comparative increase without identifying defects in books or non-business expenditure. The Tribunal observed that the AO made the addition without proper examination of records.
ITAT Kolkata set aside the appellate order after observing inconsistencies between the findings of the CIT(A) and the assessment order. The Tribunal directed fresh adjudication with a reasoned speaking order and proper opportunity of hearing.
Under the earlier law, even a one-day delay in depositing employee contributions resulted in permanent tax disallowance. The new regime provides relief where payments are completed before the due date for filing returns.
ITAT Raipur held that penalty proceedings initiated after unreasonable delay violated the statutory limitation prescribed under Section 275(1)(c). The Tribunal ruled that delayed penalty orders cannot survive once limitation expires.
Bombay High Court held that revisionary powers under Section 263 cannot be invoked where the Assessing Officer had already conducted enquiries and accepted a plausible view. Mere dissatisfaction with the depth of enquiry does not render the assessment order erroneous.
ITAT Kolkata held that entire bogus purchases must be added under Section 69C where the supplier was proved to be a paper entity and no evidence of actual delivery of goods existed. The ruling reiterates that bank payments and invoices alone cannot establish genuineness.
