CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
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 : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
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 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...
Gujarat High Court held that non-granting of personal hearing in spite of being requested is clear violation and breach of principles of natural justice. Accordingly, order quashed and remanded to AO for fresh de novo order.
The ITAT Delhi upheld the deletion of an addition for alleged penny stock LTCG under Section 68, ruling that an assessment for an unabated year under Section 153A requires incriminating material found during the search. Since the addition was based on general analysis, not seized documents, the Revenues appeal was dismissed. The key takeaway affirms the Supreme Courts mandate that completed assessments cannot be disturbed without specific incriminating evidence.
ITAT Kolkata invalidated the assessment under Section 143(3), ruling that the foundational notice under Section 143(2) was void ab initio for failing to comply with the mandatory CBDT prescribed format. CBDT instructions issued under Section 119 are binding on the department.
Pune ITAT significantly reduced Section 14A disallowance, ruling that administrative expenses relating to a proprietary concern with no investments must be excluded from computation. ITAT applied a reasonable estimate of Rs.10 lakh after finding expenses like depreciation and property tax had no nexus with earning exempt income.
The High Court set aside the ex-parte assessment and appeal order, granting the partnership firm another opportunity to respond to the Section 148 notice. The ruling accepts the taxpayer’s non-response as due to bona fide, unavoidable circumstances.
The Karnataka High Court set aside the reassessment notices (u/s 148A and 148) because the jurisdictional AO issued them, violating the mandate of Section 151A under the faceless scheme. The ruling confirms that notices issued outside the centralized, faceless framework are invalid and without authority.
Bombay High Court held that delay in filing of Form No. 10 was condoned since activities of trust are genuine and denial of benefit of accumulation u/s. 11(2) due to delay in Form No. 10 would cause genuine hardship.
The Karnataka High Court struck down an Income Tax attachment under Section 281B because the property was exclusively owned by a non-assessee petitioner who acquired it through valid transactions. The court ruled that tax recovery cannot attach property not belonging to the actual assessee, making the order illegal.
Section 194T, effective April 2025, mandates a 10% TDS on firms’ payments (salary, interest, etc.) to partners exceeding ₹20,000 annually. New rules create compliance and non-resident ambiguity.
ITAT Chandigarh quashed an assessment order made under Section 143(3) for a pre-search year, holding that after a Section 132 search, the assessment must mandatorily proceed under Section 148 with proper Section 148B approval. The tribunal ruled that the Assessing Officer’s continuation of the scrutiny post-search was a jurisdictional error, making the assessment void ab initio.
