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...
Discover key highlights of India’s Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs, and compliance changes for businesses and NRIs.
Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with Finance Act, 2021.
Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price manipulation. The Income tax Act, 1961, contains provisions such as Section 68 (Unexplained Cash Credits) and Section 10(38) (Exemption on Long Term Capital Gains LTCG) to prevent tax evasion through sham transactions involving these stocks.
ITAT Jaipur’s ruling on Kailash Chand vs ITO case, analyzing tax assessment, additions, and legal compliance under Section 144 & 147 of the Income Tax Act.
ITAT Jaipur ruling on Parshavnath Buildestate Pvt Ltd vs ACIT regarding unexplained expenditures under Section 69C and taxation under Section 115BBE of the Income Tax Act.
ITAT Jaipur addressed tax deductions under Sections 54F & 54B in Kuldeep Singh Shekhawat vs. ITO, ruling on belated filings and capital gains exemptions.
Madras High Court held that extension of period for bringing immovable property to sale by auction is justifiable since time limit got extended as per proviso to rule 68B. Thus, writ petition stands dismissed.
ITAT Jaipur quashes PCIT order revising assessment of Auro Iron, citing insufficient inquiry and overreach on reassessment grounds.
ITAT Jaipur held that assessee just needs to establish that the amount has come from the bank account of the cash-creditors. Assessee is not required to prove the source of the amount in the bank accounts of the cash creditors. Thus, addition u/s. 68 deleted since genuineness of transaction proved.
ITAT Kolkata held that issuance of notice under section 143(2) of the Income Tax Act by non-jurisdictional Assessing Officer renders assessment bad-in-law. Thus, assessment order is bad-in-law and hence liable to be quashed.
