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...
ITAT Delhi held that assessment order passed on the basis of consolidated approval under section 153D of the Income Tax Act in mechanical manner without application of mind is void-ab-initio and hence assessment is liable to be quashed. Accordingly, appeals are allowed.
ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act is not justifiable since proper enquiry and examination was made and therefore, there is no error in the order of the AO thus, it is not pre-judicial to the interest of the Revenue.
The Karnataka High Court dismisses a Revenue appeal, affirming that a ₹7 crore share sale was a genuine transaction and not unexplained income under Section 68 of the Income Tax Act.
The ITAT Kolkata quashed a penalty on a taxpayer, ruling that a one-time settlement from an employer was a capital receipt. The court held that no concealment of income occurred as the amount was disclosed in the tax return.
The ITAT dismisses a tax addition on Hitesh Trading Company, finding the Assessing Officer’s estimation of a higher gross profit was arbitrary and lacked legal justification.
The Income Tax Appellate Tribunal (ITAT) Pune has ruled in favor of an assessee, Sonal Ashish Shah, reversing an addition made by the Income Tax Officer (ITO) on the sale of shares in Blazon Marbles Limited, an alleged penny stock company.
The Income Tax Appellate Tribunal (ITAT) in Cochin has ruled that voluntarily disclosing additional income after a search notice does not automatically justify a penalty under Section 271(1)(c) of the Income-tax Act, 1961.
The ITAT Delhi has held that purchasing a residential plot and subsequently constructing a house on it fulfills the conditions for capital gains exemption under Section 54F of the Income Tax Act.
The ITAT Delhi has set aside a penalty imposed on a taxpayer, ruling that penalties cannot be levied on additions to income that are based on estimation. This decision follows a precedent in the same case.
The Mumbai ITAT ruled that TDS credit cannot be denied if the amount is correctly reflected in Form 26AS, directing the tax authorities to allow the claim.
