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...
ITAT confirmed validity of reassessment based on cash deposit information. However, it reduced addition by applying peak credit theory due to withdrawal patterns
ITAT held that failure to record how seized material impacts taxable income invalidates proceedings. All assessments were quashed due to defective satisfaction note.
The Court quashed the Section 148A(d) order for not aligning with binding Supreme Court decisions. It directed fresh adjudication following the principles laid down in earlier rulings.
The Tribunal held that omission of taxable foreign exchange gain in the return attracts penalty. It noted that disclosure during assessment does not absolve liability. The ruling highlights importance of correct income reporting.
The Court examined whether reassessment based on search could extend beyond statutory timelines. It held that the notice for AY 2015–16 was issued beyond the permissible ten-year period. The ruling confirms that limitation provisions must be strictly followed.
The Tribunal observed that the assessee could not participate in proceedings due to lack of knowledge. It remanded the matter to ensure proper hearing and adjudication on merits.
Despite delay and repeated non-appearance, the Tribunal remanded the matter with a ₹10,000 cost. The ruling balances taxpayer conduct with the need for fair adjudication.
The case examined whether documents found during search can be automatically attributed to the assessee. The Tribunal ruled that ownership and connection must be established through evidence. The decision underscores limits of statutory presumptions under Section 292C.
The case examined classification of bank interest earned by a credit co-operative society. The Tribunal ruled it is business income and not income from other sources. The decision allows full deduction under Section 80P(2)(a)(i).
The dispute concerned enforcement of long-pending tax demands without timely action. The Court held that prolonged inaction by authorities and absence of proof of service violated fairness. It quashed the notice while allowing fresh remedies.
