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 case addressed whether income can be corrected without filing a revised return. ITAT held that genuine computational errors can be rectified through revised computation during assessment. The ruling prioritizes accurate income over procedural technicalities.
The case examined whether CSR expenses can qualify for deduction despite Section 37 disallowance. ITAT held that Section 80G operates independently and allows deduction for eligible donations. The ruling clarifies dual treatment of CSR spending.
The case examined whether old share capital can be taxed due to ROC strike-off of a shareholder. ITAT held that Section 68 applies only to credits in the relevant year. The ruling clarifies that historical transactions remain valid.
The case addresses whether reassessment is valid when approval is granted by the wrong authority. ITAT held that sanction under Section 151 is jurisdictional and must be from the correct authority. The entire reassessment was quashed for non-compliance.
The case examines whether estimated expense disallowances can be made without rejecting books of account. ITAT held such additions invalid, emphasizing that Section 145(3) rejection is a prerequisite. The ruling protects taxpayers from arbitrary disallowances.
The case addressed whether agricultural income claims can be rejected due to lack of initial evidence. ITAT held that substantial supporting documents cannot be ignored and remanded the matter for fresh verification. The ruling emphasizes fair consideration of evidence.
Addition under Section 68 could not be sustained where assessee has established the genuineness of a Non-banking financial company (NBFC) investor, and the AO failed to rebut such evidence or trace any money trail linking the assessee to the invested funds.
ITAT Mumbai rules that Section 11(5) investment shortfall of earlier years cannot be taxed in the current year, holding amendment prospective. Only current year violation is taxable, restricting addition to ₹5 lakh and deleting ₹1.34 crore.
ITAT held that penalty cannot be imposed where incorrect return was due to consultant’s misconduct. The ruling highlights that bona fide mistakes with voluntary tax payment negate penalty.
The Tribunal held that deduction claims should not be rejected for technical non-compliance. It emphasized that substantive provisions prevail over procedural requirements.
