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...
ITAT Delhi held that approval memo u/s. 153D of the Income Tax Act is totally silent on the issues involved and has been granted omnibus approval without any thoughtful process being discernible. Thus, assessment order vitiated due to such mechanical approval.
ITAT Mumbai allows appeal of Jasmine Bhaskar Shah against PCIT’s Section 263 revision on exemption under 54F and indexation of gifted shares.
It also referred to similar findings in Matrix Partners India Investment Holdings, LLC vs DCIT and other precedents, reinforcing that exempt income did not form part of the computation of total income under Indian law.
The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY 2024-25.
The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effective upon official publication.
ITAT Bangalore held the imposition of penalty under section 270A of the Income Tax Act is not sustainable since charge of under reporting or mis-reporting not clarified. Thus, penalty cannot be imposed in a light hearted manner or in routine manner.
ITAT Surat held that the application in Form No.10AB u/s 80G(5) of the Income Tax Act cannot be dismissed as barred by limitation in view of CBDT circular 7/2024 dated 25.04.2024. accordingly, matter remitted to the file of CIT(E).
ITAT Hyderabad held that interest on loan taken to acquire shares of any company for taking controlling interest is eligible as deduction under section 36(1)(iii) of the Income Tax Act. Accordingly, appeal of revenue dismissed.
Learn about the revised Section 44ADA, eligibility, new ₹75L threshold, benefits, and compliance rules for professionals under presumptive taxation in India.
ITAT Mumbai held that GST would not form part of gross receipts for the purposes of computing presumptive income under Section 44BB of the Income Tax Act. Accordingly, appeal of the assessee allowed.
