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...
Bombay HC sets aside IT department’s rejection of a compounding plea due to delay, directing a reconsideration per Supreme Court precedents.
Bombay HC quashes Indusind Media’s reassessment, citing change of opinion and lack of double deduction proof, ruling in favor of the taxpayer.
Learn about the Bombay High Court’s decision in Crystal Pride Developers vs ACIT regarding reassessment beyond 4 years under Section 147 of the IT Act, emphasizing the necessity of disclosing material facts. Understand the legal implications and judicial precedents involved.
Bombay HC rules in favor of Nicholas Piramal, allowing community development expenses as business deductions under the Income Tax Act. Appeal by Revenue dismissed.
ITAT Bangalore holds LTCG from Market Linked Debentures taxable at 20% under Section 112, rejecting concessional 10% rate under Section 112A. Assessee’s appeal dismissed.
Held that the invoices issued by the assessee contained a barcode. A barcode on a tax invoice serves as a verification mechanism, ensuring that the sale is recorded in the system and adds a layer of authenticity.
ITAT Mumbai held that notice under section 148 of the Income Tax Act issued after a period of six years is barred by limitation. Accordingly, assessment proceedings under section 147 is liable to be quashed.
Delhi High Court held that Section 153C as application at relevant time didn’t contemplate two tier recordal of satisfaction. Thus, proceedings u/s. 153C couldn’t have been triggered mechanically without formation of opinion by AO of non-searched person.
Bombay High Court held that reassessment proceeding u/s. 148 initiated against non-existing company is not sustainable in law in as much as the department was already informed about the merger. Accordingly, notice quashed.
ITAT Amritsar held that there is no violation of provisions of section 269SS of the Income Tax Act when cash payment was made at one go before sub-registrar at the time of registration of sale deed. Accordingly, penalty under section 271D deleted.
