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...
The Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a recent notification.
Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a recent notification.
The Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a recent notification.
Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a recent notification.
Calcutta High Court stays reassessment proceedings against Unisource Hydro Carbon Services, highlighting the need for affidavits and potential natural justice violations.
ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act justified since PCIT correctly observed that the very basis of disallowance of depreciation was on an incorrect understanding of the facts by AO. Accordingly, revision order upheld.
ITAT Delhi held that claim of interest u/s. 24b of the Income Tax Act was duly examined during original as well as reassessment proceedings. Thus, the plausible view having been taken by the AO cannot be held to be prejudicial to the interests of Revenue.
ITAT Mumbai held that denial of exemption under section 54 of the Income Tax Act on account of non-utilization of consideration not justified as utilization done within extended time limit for making the investment under the TOLA. Accordingly, exemption u/s. 54 granted and appeal allowed.
Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax exemption.
Madras High Court held that prosecution initiated for the offence punishable under Section 276C(1) of the Act cannot be continued, in the light of the penalty proceedings initiated under Section 276C(1) of the Act have been already terminated by the Appellate Tribunal.
