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...
The ITAT Delhi heard an appeal from Kamal Kant, whose set-off of non-speculative business losses from Futures & Options (F&O) against Capital Gains income was disallowed by the tax authorities. Citing Section 71(2) of the Income-tax Act and judicial precedent, the ITAT found the set-off permissible.
Delhi High Court directs ACIT to immediately de-attach Boang Technology’s 13 bank accounts. Company must deposit 20% of demand by Oct 3, 2025, to secure a stay on the balance 80%.
Bombay High Court confirms that an assessment order isn’t ‘erroneous’ if AO applied his mind. Court dismissed PCIT’s appeal against Gehna Jewellers.
Calcutta High Court denies immediate interest u/s 244A on a court-directed refund where the underlying tax demand is still pending appeal, deeming the claim premature.
Himachal Pradesh High Court refuses to decide on the jurisdiction of Section 148 Income Tax notices for AY 2020-21 as a similar issue is pending before the Supreme Court; proceedings are stayed.
Bombay High Court admits PCIT appeal against ITAT deletion of disallowance under Section 40A(3) for excess cash payments, questioning reliance on a specific precedent.
ITAT ruled in Grasim Industries that a court-sanctioned scheme transfer before the 2021 amendment is a transfer by law, not a slump sale under Section 50B. The change is not retrospective.
The ITAT remanded the assessment for an individuals commission income, ruling that the Assessing Officer (AO) must first verify if the income was already offered to tax by the company of which the assessee was a Director. The key takeaway is the prohibition of double taxation on the same income, directing the AO to delete the addition if the company has paid the tax.
This ruling addresses a massive tax demand raised by CPC under Section 143(1) based solely on a clerical error in the original Form 3CD. The ITAT set aside the orders, holding that natural justice mandates the assessee be heard and the correct audit report considered before imposing such a significant liability.
Compounding fees collected from illegal mining, transportation, and storage of minerals constituted a ‘transfer of rights’ and consequently attracted Tax Collection at Source (TCS) under Section 206C(1C) as it involved parting with an interest in the mine.
