Judgement

Court rules share buyback is capital reduction, not property receipt under undervaluation provisions.

HC Clarifies Buyback Transactions Outside Deemed Income Provisions

The ITAT Rajkot allowed Section 87A rebate on STCG where the total income does not exceed the limit of Rs 7 lakh and deleted the tax demand.

Section 87A Rebate Cannot be Disallowed Against STCG If Income Is Below Rs 7 Lakh: ITAT

Articles

Income tax refund is not taxable, but Interest on refund is taxable under “Income from Other Sources” as per the Income-tax Act, 1961 and Income Tax Act, 2025, and must be reported in the year of receipt.

Refund in Hand, Tax in Demand: The Truth About Interest on Income Tax Refund

Income tax information explains filing deadlines, penalties, and compliance rules, along with the transition to the Income Tax Act, 2025 and the importance of timely return filing.

Overview of Income Tax Rules, Deadlines, Penalties, and New Law Transition for FY 2025-26

News

Entertainment Network (India) Limited discloses to the stock exchange about an appeal filed against an income tax assessment order, imposing a demand of Rs 113.20 crore on the company.

Entertainment Network India Challenges Rs 113.20 Crore Income Tax Assessment Order Before CIT(A)

The Bombay High Court rules that high profit margins alone cannot justify invoking Section 80-IA(10), restoring the Section 10B deduction for EOU.

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HC Clarifies Buyback Transactions Outside Deemed Income Provisions

Section 87A Rebate Cannot be Disallowed Against STCG If Income Is Below Rs 7 Lakh: ITAT

Refund in Hand, Tax in Demand: The Truth About Interest on Income Tax Refund

Overview of Income Tax Rules, Deadlines, Penalties, and New Law Transition for FY 2025-26

Entertainment Network India Challenges Rs 113.20 Crore Income Tax Assessment Order Before CIT(A)

Section 10B Benefit Restored; High Profit Allegation Not Sustainable: HC