Income Tax : The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certai...
Finance : The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. Th...
Income Tax : The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ru...
Income Tax : The article explains how Section 115BAE offers newly established co-operative societies a concessional 15% tax rate for manufactur...
Income Tax : The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The cha...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : ITAT Delhi held that the assessee was covered under the search proceedings even though its name did not specifically appear in the...
Income Tax : Bangalore ITAT ruled that only solar days and not cumulative man-days should be considered while determining the existence of a Pe...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Rajasthan High Court held that the benefit of Section 115BAA could not be denied when Form 10-IC was filed within the period p...
Income Tax : The Court held that the petitioner had no connection with the entities or individuals from whose devices the disputed material was...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The CBDT introduced Form ITR-U to allow taxpayers to update previously filed returns. The amendment promotes voluntary compliance ...
Income Tax : The CBDT has substituted the ITR-V form to strengthen verification of electronically filed returns. The amendment enhances accurac...
ITAT ruled that cash deposits made during demonetisation were justified by proceeds from sale of agricultural land. Tribunal upheld deletion of the ₹1.28 crore addition under Section 69A, confirming that registered sale deeds and evidence of cash flow adequately established the source of the funds.
ITAT Pune set aside the rejection of a final 80G approval application, ruling that a technical delay caused by withdrawing and refiling the application due to a typographical error should be condoned. The Tribunal held that rejecting the application on mere procedural lapse, despite the original filing being on time, defeats the purpose of the law.
ITAT Indore deleted a Rs.1.46 crore addition made under Section 69C via rectification, ruling that the AO wrongly invoked the section. The commission payments reported in the audit form were a pass-through on behalf of clients, not the assessee’s claimed business expenditure, meaning the deduction of TDS didn’t imply an unrecorded expense.
ITAT Bangalore ruled that excess stock admitted during a survey is taxed as business income only if a direct nexus to regular business is proven; otherwise, it’s taxed as undisclosed income under Section 115BBE. The verdict split across two assessment years based on whether the disclosure was linked to sales or simply admitted as unexplained.
ITAT Delhi upheld reassessment on an individual for AY 2017-18, finding that existence of dual PANs and huge undisclosed demonetization cash deposits constituted tangible material. Tribunal confirmed that sufficiency of material is irrelevant at reopening stage, only prima facie belief matters when notice is issued within four years.
Punjab and Haryana High Court directed CBDT to issue a circular extending the ITR due date for audit cases to 30th November 2025. The extension follows Section 44AB and Explanation 2(a) to Section 139(1). Taxpayers now have sufficient time between submission of audit reports and filing of returns.
Chhattisgarh High Court held that order passed without affording opportunity of personal hearing is against the principle of natural justice. Further, the said order was also not served. Thus, order is set aside and matter restored back.
Gifts received from specified relatives are fully exempt from income tax under Section 56(2)(x). Learn the definition of ‘relative’ and mandatory ITR disclosure steps.
Understand the fundamentals of Indian Income-tax: its definition under the Income-tax Act, 1961, the administrative role of the CBDT, the concept of Previous Year vs. Assessment Year, tax collection methods (TDS, Advance Tax), and the distinction between taxable and exempt income.
ITAT Chennai ruled in favor of Lakshmiammal Progressive Educational Trust, deleting an addition of ₹31.6 lakhs after finding the receipts to be voluntary donations, not compulsory capitation fees.
