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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 ITAT held that the CIT(A) has no power to dismiss an appeal merely for non-prosecution. The appellate authority must adjudicate every appeal on merits and provide reasons as required under Section 250(6).
The Delhi High Court held that a reassessment notice issued beyond the prescribed limitation period was without jurisdiction. It quashed both the Section 148 notice and the consequential assessment order.
The ITAT Hyderabad held that certified segmental financial information could not be rejected mechanically without identifying defects. It remanded the issue to the TPO for fresh consideration.
The Patna High Court declined to interfere with the cancellation of GST registration after noting that the first appeal was filed with a delay of 21 months. The Court also observed that no reasons for the delay were placed on record and left open the remedy of a second appeal.
The ITAT Hyderabad held that payments made for Google AdWords constitute advertising contracts under Section 194C and not fees for technical services under Section 194J. The Tribunal ruled that the automated platform did not involve the rendering of technical services to the advertiser.
The ITAT Mumbai held that penalty under Section 270A cannot be sustained where the show cause notice and assessment order fail to specify whether the allegation is under-reporting or misreporting of income. The Tribunal upheld deletion of the penalty after finding the notice lacked a definite charge.
The ITAT Lucknow upheld deletion of the addition after finding that the cash deposits represented business receipts arising from disclosed sales and were duly recorded in the books of account. It held that section 69A could not be invoked on the facts of the case.
The ITAT Delhi deleted the addition under section 69A after finding that the assessee had substantiated the source of the jewellery through a Will, affidavit, purchase bills, bank statements, and other documentary evidence. It held that the jewellery stood satisfactorily explained.
The ITAT Raipur upheld the disallowance of 12.5% of disputed purchases after finding that the assessee failed to establish the actual physical movement and consumption of the goods. The Tribunal held that invoices, banking records and GST documents alone were insufficient in the absence of supporting transport and production evidence.
The ITAT Delhi upheld the deletion of an ₹80 lakh addition after holding that the assessee had established the identity, creditworthiness and genuineness of the lender companies. The Tribunal ruled that additions cannot rest solely on suspicion of circular transactions without corroborative evidence.
