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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...
The issue concerns when capital gains become taxable under the law. The framework clarifies that gains are taxed in the year of transfer, with exceptions for specific cases like compensation and conversions. The key takeaway is that timing of transfer is central to determining tax liability.
The Tribunal held that purchases supported by invoices, GST records, and banking transactions cannot be treated as bogus. It ruled that documentary evidence outweighed doubts raised by the department.
The Tribunal held that the CIT(A) failed to provide reasons for rejecting books under Section 145(3). It remanded the matter for fresh examination of this issue.
The High Court held that no substantial question of law arose from the ITAT order deleting LTCG additions. It ruled that factual findings based on evidence cannot be disturbed without legal error.
The Tribunal held that LTCG cannot be treated as bogus merely based on investigation reports. It ruled that documented transactions through banking and stock exchange channels prove genuineness.
The case involves whether limitation for assessment can be extended based on a DTAA information request. The High Court held such extension invalid as the request covered pre-2011 periods outside DTAA scope. The key takeaway is that invalid references cannot extend statutory limitation.
Section 247 now permits registered valuers to assist in search and seizure valuations. The key takeaway is expanded opportunities for professionals and improved accuracy in tax assessments.
Explains new income-tax cash limits on expenses, receipts, and loans. Highlights that exceeding thresholds can lead to disallowance and penalties equal to the cash amount.
The Tribunal held that ad hoc disallowance of labour expenses without concrete evidence is unsustainable. It ruled that suspicion alone cannot justify additions when proper documentation exists.
The tribunal held that capital gains from share buyback are not taxable in India under treaty provisions. It clarified that such transactions qualify as corporate reorganisation. The key takeaway is that DTAA benefits override domestic tax provisions when more beneficial.
