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Direct Tax Collections Rise 7.2% to ₹22.8 Lakh Crore in FY26 So Far

India’s direct taxcollection continued to expand in FY 2025–26, with provisional figures showing net collections of ₹22.80 lakh crore as of March 17,...

Budget Proposes Hike in Securities Transaction Tax on Futures and Options [Read Finance Bill 2026]

India’s Net Direct Tax Revenues Rise 8.82% Till Mid-January

STT-Paid STCL Set-Off allowed against 30% STCG Despite 15% Rate: ITAT Quashes Denial [Read Order]

No Hierarchy in STCL Set-Off u/s 70(2): ITAT Strikes Down AO’s Computation Method

Client Code Modification in F&O Transactions Allegations Need Transaction-Level Proof: ITAT Remands ₹1.33 Cr Income Addition Matter [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that an argument for income escaping the net of taxation due to Client Code Modification (CCM) in futures and options transactions...

ITAT Shields Investor from Tax, Says Documented Stock Exchange Trades Trump Tax Dept's Presumptions [Read Order]

In a significant ruling that reinforces the primacy of documentary evidence over general allegations, the Income Tax Appellate Tribunal (ITAT) in Mumbai has shielded an individual investor from a...

Direct Tax Collections Surge 16.12% in FY 2024-25, Net Collections Total ₹9.95 Lakh Cr by September 17

The Ministry of Finance has reported a strong performance in direct tax collections for the financial year 2024-25, with net collections touching ₹9,95,766 crore as of September 17, 2024. This marks...

Stock Exchange and Demat Records Prove Share Transactions: ITAT deletes Additions u/s 153A [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai examined whether additions towards disallowance of interest expenditure, capital gains, and estimated commission expenses made under Section 153A of...

Taxation of Capital Gains in the Stock Market: Explained

Investing in the stock market has become a preferred choice for many individuals looking to grow their wealth. But alongside potential profits comes the often overlooked but critical aspect of...

Reassessment u/s 147 Requires Fresh Tangible Material, Mere Reliance on Investigation Report Insufficient: ITAT [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) ruled that reassessment under Section 147 of the Income Tax Act, 1961, must be based on fresh tangible material and that reliance solely on...

NRI's Investment in Mutual Funds Held as Legitimate, ITAT Dismisses Revenue's Appeal [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Delhi Bench, upheld the decision of the Commissioner of Income Tax (Appeals) CIT(A) in a case involving unexplained investment, income...