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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 Supreme Court dismissed the Revenue’s challenge after the High Court held that the concurrent findings of the CIT(A) and ITAT on identity, genuineness and creditworthiness were not perverse.
The ITAT held that payments made to directors represented arranger fees and not prohibited sub-brokerage under SEBI Regulations. It deleted the entire disallowance under Section 37(1), finding no violation of law.
The High Court upheld the ITAT’s finding that the assessee had established the identity of creditors and the genuineness of loan transactions through banking channels. The Revenue’s appeal was dismissed.
The Tribunal held that compensation received under BSNL VRS-2019 qualifies for exemption under Section 10(10B) of the Income-tax Act. It directed the Assessing Officer to recompute the taxable income and issue the refund due to the assessee.
The Tribunal ruled that an Investigation Wing report alone cannot justify an addition under Section 68 without independent verification by the Assessing Officer. It upheld the genuineness of the share transactions based on documentary evidence produced by the assessee.
The ITAT held that the Assessing Officer was not justified in sustaining the addition once the assessee substantiated the source of the cash deposited. The Tribunal accepted the documentary evidence and deleted the addition under Section 69A.
The Tribunal ruled that ignoring the assessees additional evidence, including the registered valuers report, vitiated the appellate proceedings. It restored the issue to the Assessing Officer for a de novo assessment in accordance with law.
Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The guide also explains the transition from AAR to the Board for Advance Rulings and the e-Advance Ruling Scheme.
The article examines whether Section 58(3) of the Income-tax Act, 2025 makes tax audit compulsory whenever profits fall below 6%, regardless of turnover. It concludes that a harmonious interpretation suggests taxpayers should continue to be governed by the normal thresholds under Sections 62 and 63, though legislative clarification is needed.
Learn when senior citizens must file an Income Tax Return, who qualifies for the age-75 exemption, and how Form 125 works. The guide also explains document preparation, choosing the correct ITR form, and avoiding common filing mistakes.
