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...
The Tribunal ruled that rejection of Section 12AB registration merely because no expenditure was reflected in the financial statements was unsustainable without examining the trust’s actual activities. Fresh adjudication was directed after proper verification.
The ITAT found that the Assessing Officer failed to establish any specific infirmity in the assessee’s business expenditure before making a 10% ad hoc disallowance. The Tribunal therefore upheld the CIT(A)’s order deleting the addition.
The Tribunal held that only the profit element embedded in the disputed purchases could be taxed and affirmed a 2% estimation based on binding precedents in the assessee’s own earlier assessment years. The Revenue’s challenge to the reduced rate was rejected.
The ITAT held that where transactions with the Indian associated enterprise are at arm’s length, additional profit attribution to the alleged permanent establishment is unwarranted. The Tribunal therefore deleted the income attributed by the Assessing Officer.
The Tribunal ruled that application software purchased independently from computer hardware is still covered under the specific depreciation entry for computer software. The Assessing Officer was directed to allow depreciation at 60% instead of 25%.
The Tribunal ruled that a clerical mistake in the DRP’s order could not justify sustaining a ₹10 lakh addition. It held that the Assessing Officer should have implemented the DRP’s directions in substance and deleted the entire addition.
The article clarifies that the CBDT’s 4 June 2026 instruction governs six categories of compulsory manual scrutiny and is distinct from the CASS risk-based selection process. It explains the scope of each category and how taxpayers should prepare.
The ITAT Mumbai held that reassessment proceedings initiated on the basis of information arising from a search in the case of a third party fell within the exceptions to Section 148A. It ruled that issuance of a notice under Section 148A was without authority of law and could not confer jurisdiction. The reassessment was accordingly quashed.
The article explains how India’s Place of Effective Management (POEM) rules may treat a foreign company as an Indian tax resident if key decisions are made from India. It also highlights the importance of aligning management with the chosen jurisdiction.
The Tribunal ruled that although CSR expenditure is not allowable under Section 37, eligible donations made to recognised institutions can still qualify for deduction under Section 80G. The assessee’s claim was allowed for eligible donations.
