09 Sep 2026, 03:17 pm
Income Tax – Immunity from penalty for under-reporting of income in consequence of misreporting – Petitioner filed return for Assessment Year 2018-19 and claim for deductions under Section 80 was disallowed by Assessment Order – Petitioner deposited the assessed demand and show-cause notice fo...
Income Tax - Benchmarking of Interest on Foreign Currency Loans - Transfer Pricing – Determination of arm's length price for interest charged on loans given to associated enterprises - Appellant provided foreign currency loans to associated enterprises at rates of 6.5% to 9.5% whereas AO applied S...
Income Tax - Applicability of Section 68 to Trade Payables and Remand for Additional Evidence: Transfer Pricing – Assessee claimed trade payables as liabilities for genuine purchases from known parties - AO made addition under Section 68 claiming unexplained cash credit based on balance discrepanc...
Income Tax - Disallowance of Bogus Purchases Restricted to Profit Element - AO on basis of adverse information from GST Authorities regarding supplier treating entire purchases as bogus and disallowing under Section 37(1) - CIT(A) upheld full disallowance - When alleged bogus purchases are substanti...
Income Tax - Applicability of Tax Audit Requirement under Section 44AB – Applicability of tax audit requirement under Section 44AB where assessee's turnover is below audit threshold but cash receipts and payments both nil - Assessee reported turnover of Rs.2,18,93,220/- with no cash receipts or ca...
Notification No. 117/2026 | 25-Aug-2026
Notification under Section 11 of the Income Tax Act, 2025 in the case of Maharashtra Electricity Regulatory Commission
Notification No. 116/2026 | 25-Aug-2026
Notification under Section 536(1) of the Income Tax Act, 2025 in the case of Maharashtra Electricity Regulatory Commission
NOTIFICATION No. 115 of 2026-CBDT | 21-Aug-2026
Notification u/s 45(3)(a)(i) r.w.s. 45(4)(b) of the Income Tax Act, 2025 in the case of International Institute of Bio Technology and Toxicology, Tamil Nadu
Act No. 21 of 2026 | 17-Aug-2026
Taxation and Other Laws (Amendment) Act, 2026
Notification No. 113 /2026 | 11-Aug-2026
Notification under Section 11 of the Income Tax Act, 2025 in the case of District Legal Service Authority, Panchkula
Press Release | 18-Aug-2026
Income Tax Department undertakes verification of suspicious foreign remittances
F. No. 225/77/2026/ITA-II | 22-Jul-2026
Order under section 258(1)(b) of the Income-tax Act, 2025
F. No. 225/73/2025-ITA-II | 08-Jul-2026
Order u/s 239 of the Income Tax Act, 2025
F. No. 225/73/2025-ITA-II | 08-Jul-2026
Order u/s 119 of the Income Tax Act, 1961
F. No. 370149/107/2026-TPL | 06-Jul-2026
Clarificatory Frequently Asked Questions (FAQs) related to transition provisions under Section 536 of the Income-tax Act, 2025 (Repeals and Savings)

Recent Updates

Income Tax - Cancellation of registration of charitable institution - The Appellant is a charitable society registered under the Income Tax Act engaged in running educational institutions. Upon expiry of the earlier registration, the Appellant filed ...
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Income Tax - Penalty under section 271(1)(c) of the Act - The Assessing Officer (AO) imposed penalty on undisclosed income that was surrendered by the Respondent during search proceedings initiated under section 132 by invoking the provisions of Expl...
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Income Tax - Developer versus Works Contractor, Deduction Eligibility, Pre-project Expenditure, Commercial Expediency, Joint Venture, Constituent Member Eligibility - The appellant assessee was involved in road and canal projects awarded by governmen...
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Income Tax - Under-valuation of closing stock, Stock statement to bank, Disallowance of interest, Unpaid purchase price, Insurance expenses, Keyman Insurance Policy, Valuation method - The Assessing Officer (AO) completed the assessment making additi...
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Income Tax - Consequential assessment order, Validity - The revenue framed a consequential assessment order under section 143(3) read with section 263 of the Act following directions issued by the Principal Commissioner of Income Tax invoking the rev...
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  • vivek
    19-Aug-2026
    Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST DS 2026)
    The Finance Act, 2026 has introduced a compliance window for individuals with undisclosed foreign assets or income...
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