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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...
Practical guide to FY 2025-26 transfer pricing compliance covering Section 92D, Rule 10D, Form 3CEB, Master File, Local File, CbCR and APA.
Since the prosecution failed to establish disproportionate assets after properly accounting for the accused’s legitimate income, loans, gifts and savings, the conviction under section 13(1)(e) read with section 13(2) of the Prevention of Corruption Act could not be sustained.
The article explains how incorrect turnover reporting in ITR-3 can generate substantial tax demands and highlights the correct turnover computation method for F&O traders.
The article argues that the ITAT’s interpretation of Sections 2(19AA) and 2(41A) overlooked the anti-surplusage canon, creating substantial questions for the Bombay High Court.
Disallowance of assessee’s claim was upheld for set-off of brought forward unabsorbed depreciation and carry forward of business losses and unabsorbed depreciation of the demerged company under section 72A(4), holding that failure to satisfy the mandatory condition of issuing shares to the demerged company disentitled the assessee from claiming the statutory benefit.
A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Section 270AA.
The Jabalpur Tribunal held that signing an Agreement to Sell and receiving advance money did not trigger capital gains tax because possession was transferred only upon registration of the Sale Deed. The ruling underscores that the timing of transfer depends on the contractual terms governing ownership and possession.
CBDT notifies Telangana Pollution Control Board under Section 11 of Income-tax Act, 2025, effective from tax year 2026-27 subject to conditions.
CBDT approves IIHS for social science or statistical research for tax years 2026-27 to 2030-31, subject to prescribed compliance conditions.
Where unaccounted sales were established through seized material, only the net profit embedded therein was liable to tax, and not the entire sales turnover. When the seized evidence itself reflected corresponding business expenditure, the Revenue could not disregard such expenses while relying on the same material.
