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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...
Tribunal ruled that questions relating to loans and advances are matters for assessment proceedings and not sufficient grounds to reject renewal of registration. The CIT(E) was directed to reconsider the application.
The ITAT held that reassessment notices issued after the surviving limitation period prescribed by the Supreme Court were invalid. Consequently, the reassessment proceedings and assessment orders were quashed for lack of jurisdiction.
ITAT Chennai held that revision under Section 263 could not survive on the issue of prior period expenditure after the Assessing Officer verified and accepted the claim in the consequential assessment. The revision was sustained only on the remaining issues.
ITAT held that Accounting Standard-19 governs accounting treatment but does not determine tax treatment under the Income-tax Act. It ruled that depreciation belongs to the legal owner while lease rentals remain deductible for the lessee.
The High Court found that the appellate authority had failed to act on the Tribunal’s direction requiring a speaking order for Assessment Year 2015-16. Holding that prolonged administrative inaction cannot leave an assessee without a remedy, the Court ordered time-bound disposal of the appeal.
The Madras High Court held that the tax authorities failed to examine the assessee’s request to consider exemption under the correct statutory provision after a bona fide error. It set aside the orders and directed a fresh assessment.
The ITAT Bangalore condoned a 252-day delay after finding that the assessees legal representatives had shown sufficient cause arising from illness, death and family disputes. It also held that the CIT(A) erred in dismissing the appeal without evaluating the delay condonation application and restored the matter for decision on merits.
The ITAT Delhi held that the Transfer Pricing Officer could not arbitrarily determine the arm’s length price of management services at nil despite evidence establishing receipt of services. The Tribunal restored the assessees TNMM-based benchmarking by following its earlier decision.
The ITAT held that the assessment was invalid because it was completed by an Income Tax Officer who lacked pecuniary jurisdiction under CBDT Instruction No. 1/2011. The assessment was quashed without examining the additions on merits.
The ITAT Surat held that cash deposited during demonetisation was sufficiently explained through opening cash-in-hand, prior bank withdrawals, and cash received from the deceased husband. It ruled that Section 69A addition could not be sustained merely on assumptions about human conduct.
