If any assessment proceedings are to be initiated by AO by relying on any information found during search action conducted on third party, then the Dept must resort to special provisions of section 153C and notice issued u/s 148 in such scenario is bad in law.
ITAT Mumbai held that denial of TDS credit merely because of non-reflection in Form 26AS is not justified since there could be varied technological or other reasons where the relevant data pertaining to the assessee doesn’t get reflected in Form 26AS.
The DGFT’s Notification No. 33 /2025-26 amends the Non-Basmati Rice export policy. While still ‘Free,’ all shipments under Chapter 10 ITC (HS) codes now require mandatory contract registration with the APEDA, effective immediately.
Stay compliant in September 2025 with this overview of key deadlines for income tax, GST, SEBI, ROC, and ESI/EPF filings. Avoid penalties and ensure smooth operations.
A new CBDT notification recognizes the Central Board of Secondary Education (CBSE) under section 10(46) of the Income-tax Act, exempting specific incomes from tax until 2030-31.
The Ministry of Finance has granted a tax exemption to the Maharashtra State Pharmacy Council for specific income types from FY 2018-19 to 2022-23.
CBDT notifies tax exemption for Rabindra Setu Commissioners, Kolkata, on specified income sources for AYs 2024-25 to 2028-29 with conditions.
A new CBDT notification grants the Lucknow Development Authority special status under section 10(46A) of the Income-tax Act, 1961, effective from the 2024-25 assessment year.
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ITAT Bangalore held that capital gains from land gifted to spouse are taxable in the husband’s hands under Section 64(1)(iv), not in the wife’s.
