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 Petitioner prayed for a direction upon the respondents not to proceed further on the basis of the notice u/s. 148 of the Act of 1961 and drop the proceedings after considering the objection dated 21.02.2022. Petitioner also prayed for an interim stay of the impugned notice.
Addition made under Section 69A based only on statements and a pen drive that were never tested or corroborated was not justified as such evidence could not be treated as credible unless the taxpayer was confronted with it and given an opportunity to respond.
Assessee – real estate developer was engaged in the business of construction of residential units / bungalows which were duplexes surrounded by a compound wall. Each residential unit consisted of a portico and an open terrace.
ITAT Chennai held that passing of rectification order under section 154 of the Income Tax Act held to be not sustainable since reasonable opportunity of being heard was not granted specifically when rectification resulted into enhancement of an assessment.
Karnataka High Court held that co-operative society registered under Karnataka Souharda Sahakari Act, 1997 is not required to deduct TDS on interest payments made to its members as per provisions of section 194A(3)(v) of the Income Tax Act.
ITAT Kolkata held that dividend distribution tax u/s 115-O of the Act and interest u/s 115P of the Income Tax Act is applicable only to a domestic company and since appellant is a co-operative society and provisions of section 115-O and 115-P will not be applicable.
Gujarat High Court held that transfer order passed under section 127 of the Income Tax Act tenable in law since the same is passed after giving proper opportunity of being heard to the petitioner. Accordingly, transfer order upheld and petition dismissed.
ITAT Bangalore held that the interest income received by way of mandatory / statutory deposits would also eligible for deduction u/s. 80P(2)(a)(i) of the Income Tax Act by treating the said income as business income. Accordingly, appeal of the assessee allowed.
Gujarat High Court rules refunds under Vivad Se Vishwas Act are entitled to Section 244A interest for delayed payment, citing Supreme Court precedent.
ITAT Mumbai quashes reassessment against Sky Scraper Properties, ruling no addition was made based on the initial reason for reopening, citing Bombay HC precedent.
