News

The CBDT has integrated foreign financial data received through the AEOI framework directly into the AIS; accordingly, taxpayers can now verify the details before filing their ITRs.

Income Tax Dept Now Auto-Populates Overseas Assets and Income Details in Your AIS

Notifications

The CBDT has notified the Cost Inflation Index (CII) at 384 for the Financial Year 2026-27 under the Income Tax Act, 2025, effective from April 2026.

CBDT Notifies Cost Inflation Index (CII) of 384 for FY 2026–27 Under the Income-tax Act, 2025

Judgement

The ITAT dismissed the assessee's appeal, upholding the disallowance of delayed PF and ESI contributions and declining to re-examine the bonus disallowance issue.

ITAT Dismisses Appeal, Upholds PF and ESI Disallowance for Delayed Deposits Under Section 36(1)(va)

ITAT ruled purchases cannot be disallowed without incriminating search evidence when sales and books remain accepted.

ITAT Upholds Deletion of Bogus Purchase Additions Lacking Search Evidence

ITAT held entire purchases cannot be disallowed where corresponding sales are accepted and stock records support transactions.

ITAT Restricts Bogus Purchase Addition to 1.15% Profit Element Despite Seller Denials

ITAT grants Section 80P(2)(d) deduction following Gujarat High Court ruling on co-operative banks.

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Income Tax Dept Now Auto-Populates Overseas Assets and Income Details in Your AIS

CBDT Notifies Cost Inflation Index (CII) of 384 for FY 2026–27 Under the Income-tax Act, 2025

ITAT Dismisses Appeal, Upholds PF and ESI Disallowance for Delayed Deposits Under Section 36(1)(va)

ITAT Upholds Deletion of Bogus Purchase Additions Lacking Search Evidence

ITAT Restricts Bogus Purchase Addition to 1.15% Profit Element Despite Seller Denials

ITAT Allows Section 80P Deduction on Interest Earned from Co-operative Banks