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...
Gujarat High Court held that reopening of assessment under section 148 of the Income Tax Act alleging accommodation entries not sustained in absence of any supporting, independent, tangible material. Accordingly, reopening quashed as genuineness of loan established.
PCIT Vs Colo Colour Pvt. Ltd. (Bombay High Court) Bombay High Court in PCIT vs Colo Colour Pvt. Ltd. examined the validity of penalty levied under Section 271(1)(c) of the Income Tax Act, 1961, in the context of alleged bogus purchases claimed by the assessee. The appeal arose from an order dated 31 July 2020 […]
The Allahabad High Court has set aside an ex-parte penalty order issued against Beyond Research And Development Limited, ruling that the denial of an opportunity to be heard violated principles of natural justice and procedural fairness.
The Bombay High Court has quashed a penalty order against Man Truck & Bus India Pvt. Ltd., citing a failure to grant a virtual hearing and a flawed assessment basis under an Advanced Pricing Agreement.
The ITAT in Mumbai has deleted an income tax addition against Rahul M. Dalmia, ruling that the purchases were genuine. The court found that the assessee had provided sufficient evidence and distinguished the case from other precedents.
Bombay High Court upheld CIT(A) and ITAT orders deleting penalty of ₹2.75 lakh, holding that ad-hoc estimation of profit from alleged hawala purchases does not amount to concealment of income.
Delhi High Court rules that the Income Tax Department cannot claim funds from a Ponzi scam for tax dues, as the money is not “income” but “proceeds of crime.”
An overview of tax implications when a business is discontinued in India. It covers statutory provisions, compliance requirements, and tax on asset transfers for firms, companies, and trusts.
Tribunal confirmed that donations routed as consideration for corporate liaisoning, personal expenses of promoters, and shell transactions justify cancellation of charitable registration from inception
The ITAT Mumbai ruled that once Form 10EE is filed, its benefits under Section 89A apply automatically to future years, making annual filing unnecessary.
