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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 Chandigarh held interest earned on unspent government grants is not separate income and directed exemption under Section 10(2...
Income Tax : ITAT Delhi quashed Section 148 reassessment after holding reopening based solely on an Investigation Wing report lacked independen...
Income Tax : Jharkhand HC upheld conviction under Section 277 after finding the assessee claimed an income tax refund using forged TDS and hous...
Income Tax : ITAT Delhi held Section 153C assessments beyond the ten-year block period are invalid, computing limitation from the satisfaction ...
Income Tax : Kerala HC restrained coercive recovery until the stay petition is decided, subject to condonation of a 25-day delay in the statuto...
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 Tribunal ruled that penalty for non-response to notices cannot survive when the assessee later participates in the assessment proceedings. Since the final assessment was not completed ex-parte, the penalty was deleted.
The Tribunal held that cash deposits cannot be treated as unexplained when they fall within accepted business turnover declared under the presumptive taxation scheme. Once turnover is accepted under Section 44AD, separate additions for such deposits are generally not justified.
ITAT Pune held that creation of artificial intangible asset i.e. goodwill in intra-group merger is merely a colourable transaction out between the Holding Company and the subsidiary company. Accordingly, depreciation claimed thereon deserves to be disallowed.
Draft Rules 276 and 277 of the Income-tax Rules, 2026 introduce electronic reporting requirements for eligible investment funds and clarify the method for calculating taxable interest on provident fund contributions exceeding specified limits.
Draft Rule 275 of the Income-tax Rules, 2026 provides a process for investment funds to obtain optional CBDT approval confirming eligibility for tax benefits under section 9(12).
The High Court held that reassessment proceedings must follow proper procedure when the assessee is deceased. The tax authority must issue notice to the legal representative before initiating proceedings.
The Tribunal held that failure to consider additional evidence submitted during appellate proceedings violates principles of natural justice. The matter was remanded to the Assessing Officer for verification and fresh adjudication.
Draft Rule 274 of the Income-tax Rules, 2026 sets guidelines for investment funds to qualify for tax benefits under section 9(12) by prescribing look-through provisions, compliance relaxations, and minimum fund manager remuneration.
Draft Rule 273 of the Income-tax Rules, 2026 explains how film distributors can claim deduction for the cost of acquiring distribution rights depending on commercial release timing and sale or exhibition of rights.
Draft Rule 272 of the Income-tax Rules, 2026 explains when film producers can claim deduction of production costs depending on release timing, exhibition, and sale of rights.
