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...
AO was wrong in disallowing the entire direct expenditure claimed towards sub-contractors for stevedoring and transport services and at the same time, assessee had not proved beyond doubt that the expenditure claimed was fully genuine. Considering all these inconsistencies, CIT(A) righlyl disallowed 20% of the expenditure claimed.
The case addressed the disallowance of Rs.1.89 Cr, which the AO treated as a donation to other trusts and deemed income under S 11(3). The ITAT deleted the addition, ruling that payments made to other NGOs for executing charitable projects under the Trust’s supervision and control constitute genuine application of income, not donation.
The central issue was the validity of a reassessment that led to additions for bogus purchases and unexplained cash. The ITAT confirmed the entire reassessment was void because the AO failed to issue the mandatory notice under S 143(2), affirming the deletion of all additions.
The case addressed the disallowance of Rs.2.21 Cr on dealer foreign tour expenses, which the AO questioned for lack of formal agreements. The ITAT confirmed the deletion of the addition, ruling the expenses were genuine business promotion and commercially expedient under S 37(1) particularly since a similar scheme was accepted for the holding company.
Gujarat High Court held that reopening of assessment based on direction of CIT(A) cannot be sustained since the period of limitation prescribed under section 149(1) of the Income Tax Act has expired. Accordingly, reassessment notice u/s. 148 quashed and petition is allowed.
The CBDT’s Income Tax Informants Reward Scheme 2018 offers rewards up to ₹5 crore for specific, written information leading to the detection of substantial tax evasion, including undisclosed foreign assets. It specifies eligibility, confidential procedures, and tiered rewards based on the realized tax amount.
The Income Tax Act, 1961, uses different definitions of ‘relative’ depending on the section, impacting tax-free gifts (Sec 56(2)(x)), clubbing of income (Sec 64), trust exemptions (Sec 13), and authorized representation (Sec 288). This divergence requires specific legal analysis.
Limitation under Rule 68B of the second schedule to the Income Tax Act did not apply to RDDB Act (Recovery of Debts Due to Banks and Financial Institutions Act, 1993) proceedings as Rule 68B of the IT Act had no mandatory application to recoveries under the RDDB Act
Form 3CL was not a determinative document for claiming deduction, and non-production of the same did not amount to wilful non-disclosure or suppression of material facts under Explanation 1 to Section 147.
ITAT Delhi quashed a reassessment, ruling that jurisdictional AO lacked authority to issue a Section 148 notice after CBDT notification assigned exclusive power to NFAC under Section 151A. The key takeaway is that post-March 29, 2022, only NFAC can validly initiate reassessment proceedings under faceless regime.
