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...
The ruling confirms that additions cannot be made merely on suspicion without supporting material. The Court found that the Assessing Officer did not bring any evidence to disprove the assessee’s transactions.
The High Court quashed assessment and penalty orders after finding notices were sent to an incorrect email address. It held that improper service denied the taxpayer a fair hearing, violating natural justice. The case underscores the necessity of valid notice for lawful proceedings.
The court held that electricity tariff for determining market value must include all components, including duty. It ruled that excluding such elements artificially reduces eligible deduction.
The Court held that procedural delay in filing Form 10B should not result in denial of exemption. It emphasized that substantive benefits under Sections 11 and 12 must be granted where eligibility exists.
The new law introduces audit requirements for businesses declaring profits below presumptive rates. It removes the earlier flexibility of avoiding audit without opting for presumptive taxation.
The tribunal examined whether depreciation can be claimed on concession rights under a BOT/DBFOT project. It held that the right to receive annuity/toll is an intangible asset eligible for depreciation under tax law.
ITAT Mumbai deleted Section 69 addition for alleged on-money as no direct evidence linked assessee. Pen drive data lacked Section 65B proof and cross-exam was denied, rendering addition unsustainable.
Madras High Court held that capital profit on the sale of the Fixed Assets of the Company cannot be taken directly to the Reserves & Surplus in the Balance Sheet and the same has to be routed through the Profit & Loss Account to arrive at the correct book profits u/s. 115JB of the Income Tax Act. Accordingly, the appeal stands dismissed.
A taxpayer could submit a revised return u/s 139(5) only when it discovered a bona fide omission or incorrect statement in the original return submitted u/s 139(1).
The tribunal held that GST, sales tax, and service tax refunds cannot be taxed where the assessee follows the exclusive accounting method and does not debit such taxes to the P&L account.
