The tribunal ruled that Section 50C could not apply because the DVO’s valuation ignored the impact of tenants and owner-occupied units. The key takeaway is that incorrect valuation methodology invalidates deemed consideration adjustments.
The Tribunal held that reassessment proceedings fail when the foundational assumption behind reopening is factually incorrect. It ruled that “reasons to believe” must exist in reality at the time of recording, failing which the entire reassessment becomes void ab initio.
The tribunal held that remuneration received by a professional partner qualifies as professional income. The key takeaway is that such receipts can be taxed under Section 44ADA.
The Tribunal held that cash deposits cannot be treated as unexplained income unless books of account are formally rejected under section 145(3).
Covers the Act’s simplification, digital integration, and restructured chapters, highlighting how compliance becomes clearer and more taxpayer-friendly.
Uttarakhand’s Mega Policy 2025 targets large manufacturing with capital subsidies (up to 20%), stamp duty reimbursement, and a Hill Incentive to drive major investment.
RBI’s FEMA Regulations 2023 govern the manner of foreign exchange receipt and payment between Indian residents and non-residents, detailing rules for trade and non-trade transactions.
Learn how AI tools like ChatGPT and Excel Copilot are revolutionizing chartered accountancy, improving productivity, automating tasks, and enhancing decision-making.
On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’s fiscal policy framework.
Bombay High Court directs ICAI to investigate non-practicing CAs involved in illegal activities and possible professional misconduct. Key legal insights.
