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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 Delhi High Court held that Google could not use the registered trademark HINDWARE as advertising keywords and granted a permanent injunction. The Court also awarded ₹30 lakh in nominal damages and litigation costs.
This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is purchased in the name of a spouse or family member. It explains that while several High Courts have adopted a liberal approach, the issue remains unsettled due to the absence of a Supreme Court ruling.
This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond the MSMED Act timelines at the financial year-end. It also clarifies that the provision is a timing rule, not a permanent disallowance.
The case highlights denial of TDS credit after an incorrect TAN was reported in the income tax return, even though the correct TDS appeared in Form 26AS, AIS and the department’s records.
The Gujarat High Court upheld deletion of a Section 68 addition after finding that the lenders identity, creditworthiness and the genuineness of the loan transaction had been established.
The Tribunal relied on earlier findings that the lending entities were paper concerns engaged in providing accommodation entries. The unsecured loans were treated as unexplained cash credits.
The ITAT Mumbai held that where additions were based on seized material from a third-party search, proceedings should have been initiated under Section 153C and not Section 147. The assessment was declared invalid.
The Gujarat High Court disposed of the Revenue’s appeal after it was not pressed due to the low tax effect in accordance with CBDT Circular No. 17/2019. Liberty was reserved to revive the appeal if required.
The Tribunal held that the entire unaccounted turnover from alleged on-money receipts cannot be treated as taxable income. It ruled that reasonable hidden expenditure must be considered while estimating profits.
The Gujarat High Court held that even where on-money receipts are established, only the profit embedded in those receipts can be taxed. The Revenue’s appeal seeking taxation of the entire receipt was dismissed.
