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...
Notification 71/2025 grants income tax exemption to Karnataka State Pollution Control Board for specific income like consent fees, analysis charges, and government grants. Conditions apply.
ITAT Raipur held that addition of commission @1% on bogus sales transacted upheld as no plausible explanation provided by the assessee. Accordingly, appeal dismissed and order of CIT(A) upheld.
ITAT Pune held that delay of 02 seconds in filing income tax return [ITR] is to be condoned and return is to be treated as filed in time as delay was caused due to technical glitch and last hour rush in website. Accordingly, claim of carry forward business loss allowed.
CBDT Circular 8/2025 clarifies that authorities can waive interest under Sections 201(1A)(ii)/206C(7) for past periods, subject to a one-year application window.
Madras High Court held that Direct Tax Vivad Se Vishwas Scheme benefit is not admissible in case of assessments relating to search and seizure when the disputed tax exceeds INR 5 Crore. Therefore, writ petitions are dismissed.
Vide the present petition, the petitioner has challenged notices and orders issued under section 148 of the Income Tax Act. Impugned Notice dated 31.03.2021 was issued under Section 148 of the Income Tax Act, 1961 as in force till 31.03.2021.
ITAT Chandigarh held that addition on the basis of loose paper without any corroborative material is not sustainable in law. Accordingly, addition is directed to be deleted and appeal is allowed.
ITAT Pune held that denial of exemption under section 10(23C)(v) of the Income Tax Act for belated filing of Form No. 10BB not justified as audit report in Form No. 10BB was submitted before completion of assessment proceedings. Accordingly, appeal of revenue dismissed.
The present appeals are filed by the Revenue and Assessee against different orders of the Ld. Commissioner of Income Tax (Appeals), NFAC, Delhi dated 04.08.2022 for the assessment years 2017-18 & 2018-19.
Delhi High Court held that concluded assessments cannot be reopened merely based on suspicion. Accordingly, reassessment quashed as there is no tangible material to form ‘reason to believe’ that income has escaped assessment.
