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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 Allahabad held that estimating gross profit solely on the basis of the subsequent years GP rate is not justified after rejection of books. It directed estimation based on the average of preceding and succeeding years’ accepted trading results.
ITR filing may be compulsory even below the exemption limit if specified high-value transactions or prescribed conditions under Section 139(1) are met.
The Income-tax Act, 2025 replaces old TDS/TCS provisions with Section 395 and Form 128 while retaining the existing mechanism for lower or nil withholding.
The Calcutta High Court quashed a Section 143(3) assessment after finding that the assessee was denied a meaningful opportunity of hearing. It held that procedural fairness cannot be sacrificed even where an appellate remedy exists.
The ITAT Pune held that detailed agreements, invoices and supporting records established that management support services were actually rendered by the Associated Enterprise. It ruled that the payment was at arm’s length and deleted the entire transfer pricing adjustment.
Calcutta High Court quashed the assessment, demand and penalty proceedings after holding that the assessee was denied a meaningful opportunity of hearing.
ITAT excluded EDCIL, Just Dial, Info Edge and India Exposition Mart as transfer pricing comparables due to functional differences and restored one comparable for verification.
ITAT held interest on government grant funds was not taxable as the MOU required it to be added to the project corpus.
CS 04 scrutiny examines whether trusts and NGOs validly claimed exemption in ITR-7 despite registration, approval, renewal, cancellation, or withdrawal issues.
The Chhattisgarh High Court declined to direct the Income Tax Department to investigate alleged tax evasion after noting that the Tax Evasion Petition had already been rejected as barred by limitation. It held that no writ of mandamus could be issued on the facts of the case.
