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Income Tax : Section 50AA overrides the normal holding period rules and deems gains from specified assets as short-term capital gains, even if ...
Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : Receipts earned by a German resident individual from rendering managerial, consultancy and business development services outside I...
Income Tax : The Tribunal ruled that proceedings initiated under the old Section 153C framework after the Finance Act, 2021 amendments were leg...
Income Tax : The High Court held that failure to pass the order giving effect within the time prescribed under Section 153 resulted in abatemen...
Income Tax : The Madras High Court held that unexplained trade credits falling under Section 68 cannot qualify for deduction under Section 80-I...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
NC Notification No. 75/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of “Finance (Department of Revenue) number S.O. 614(E) dated 18th March, 2010, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 11, “1) Upgrading of Red Cross Blood Banks in Andhra Pradesh, 2)
NC Notification No. 74/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2033(E) dated 6th August, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 15, “Manavseva Crusade against Childhood Blindness”
NC Notification No. 73/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2545(E) dated 6th October, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 8, “Expansion of existing Udaan Institute for vocational studies”
NC Notification No. 72/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1250(E) dated 18th May, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 14, “Project “DURBAL-UTKARSH” Essential facilities for formerly
NC Notification No. 71/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1250(E) dated 18th May, 2009 issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 5, “Providing Shelter and Mobile Health Services to the BPL and Tribal
NC Notification No. 70/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2545(E) dated 6th October, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 10, “Expansion of Hospital called Shri Sai Institute of Medical
NC Notification No. 69/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 614(E) dated 18th March, 2009 issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) the Central Government had notified at serial number 2, “Residential Ashram School for SC/ST students” by Gohaldiha
NC Notification No. 68/2012-Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2033(E) dated 6th August, 2009, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 2, “A proposal for development and extension of the rural school
Subsequently vide notification dated September 1,2012 the Government modified the Terms of Reference of the Committee to include an additional item “to examine the applicability of the amendment on taxation of non-resident transfer of assets where the underlying asset is in India, in the context of all non-resident taxpayers”.
On perusal of records, it was found that the assessee has filed detailed objections on selection of two comparables. But the D.R.P. has not made any reference in the impugned order about the objections of the assessee. Thus, the order of the D.R.P. cannot be termed as a speaking order. The said order deserves to be set aside to file of DRP for fresh adjudication.
