Breaks down major tax changes including the default new regime, revised slabs, updated TCS/TDS rules, and capital-gains caps to help taxpayers plan smarter.
Explains India’s 30% tax, 1% TDS, and no-loss-set-off rules for digital assets, highlighting key compliance requirements and what investors must know.
Breaks down Section 234F penalties, 1% monthly interest, and the hidden loss of tax benefits that arise when returns are filed after the due date.
The Tribunal held that reassessment under Sections 147/143(3) is invalid without a Section 143(2) notice. It ruled that using the return filed under Section 148 triggers the mandatory requirement.
Explains how the faceless assessment system replaced physical meetings with a transparent, online process, improving fairness while retaining the core principles of natural justice.
Explains how ITC must be shown across Tables 6, 7, and 8 of GSTR-9, including treatment of claims, reversals, and cross-year reclaims, ensuring correct annual GST reporting.
ITAT held that capital introduced from ancestral land sale cannot be treated as unexplained merely due to absence of a registered sale deed. Agreements to sell, identity records, and transaction details sufficiently proved the source.
Delhi HC ruled that both jurisdictional and faceless officers can issue Section 148 notices. It reaffirmed that faceless regime does not eliminate JAO authority until Supreme Court decides otherwise.
The Tribunal found that the authorities mechanically endorsed a factually incorrect premise, resulting in an unjustified DVO reference. Such a negligible 1.71% variation could not support an unexplained-investment addition under Section 69. Due to non-application of mind throughout the process, the 153A assessment was struck down entirely.
Delhi HC set aside the orders after finding that hearing notices were neither emailed nor properly served. The matter was remitted for a fresh decision with mandatory opportunity of hearing.
