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...
Mere act of depositing cash into a bank account, even during demonetization, was not conclusive proof of unexplained income under Section 69A especially for a business operating under a presumptive tax scheme.
High Court held that the Revenue itself had accepted the provision in earlier years and not disputed it even before the jurisdictional High Court in appeal for AY 2009-10. Since the provision was scientific and actually discharged, no substantial question of law arose.
ITAT Indore held that reopening of assessment done by Assessing Officer under section 147 of the Income Tax Act, based on tax audit report already available during original assessment, without any fresh and new material is invalid and liable to be quashed.
Chennai ITAT deleted a Rs.12.36 lakh cash deposit addition under Section 69A for a retired government employee, acknowledging retirement benefits and customary household savings as sufficient sources.
ITAT Chandigarh held that disallowance under section 14A of the Income Tax Act set aside since own funds and reserves of the assessee are more than sufficient to cover the investment made during the year. Accordingly, appeal of revenue dismissed.
Telangana High Court held that income earned from production of hybrid seeds under supervision of company is in the nature of agricultural activity and income earned from such activity is exempt under section 10(1) of the Income Tax Act. Accordingly, appeal of revenue dismissed.
Gujarat High Court held that claim of exemption of Long Term Capital Gain under section 10(38) of the Income Tax Act cannot be held to be bogus on the basis of presumption in absence of any corroborative evidence. Accordingly, appeal of revenue dismissed.
ITAT Delhi held that since nature of expense i.e. purchase and source of expense not doubted and only genuineness of expense is doubted, the disallowance has to be made under section 37 of the Income Tax Act and not under section 69C. Accordingly, order of PCIT set aside.
Deduction under Section 36(1)(va) was allowable for a 16-day delay in depositing Employees’ Provident Fund by the assessee as delay was attributable due to the lockdown consequent upon the COVID-19 pandemic.
Chhattisgarh High Court held that addition under section 68 of the Income Tax Act justifiable since the money trail establishes circulation of assessee’s own unaccounted funds through shell company. Accordingly, appeal of revenue allowed and order of ITAT set aside.
