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...
Interest income earned from staff loans and advances was incidental to the business of power generation and qualifies as “business income” by relying on the judgment of the Hon’ble Orissa High Court in Odisha Power Generation Corporation Ltd.
ITAT Hyderabad held that trade advances, in the nature of commercial transactions, cannot be characterized as ‘loans or advance’ constituting deemed dividend within the meaning of section 2(22)(e). Thus, addition towards deemed dividend untenable.
M/s. GRR Holdings is a firm was incorporated on 31.01.2014 with two partners Shri Gaddam Shyam Prasad Reddy & Shri Syed Fayaz Mohammed. The main objective of the partnership firm is to carry on real estate business.
ITAT Jaipur held that issuance of notice under section 148 of the Income Tax Act by ACIT, Jaipur, is illegal and liable to be quashed since ITO-Delhi has jurisdiction over the case of the assessee. Accordingly, order of CIT(A) set aside.
Gujarat High Court held that reopening of assessment based on borrowed satisfaction without there being any link between information and data available on record is unsustainable in law. Accordingly, notices are liable to be quashed and set aside.
ITAT Kolkata held that reopening of assessment framed u/s. 148A(d) without application of mind and without controverting the explanation of the assessee is bad in law and is accordingly being quashed. Thus, appeal of the assessee allowed.
ITAT Delhi deletes additions against Sanmati Jewellers due to lack of corroborative evidence and delay in 153C proceedings. Read key observations and case laws.
Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Section 10(46) of Income-tax Act.
ITAT Chennai ruled in favor of Jayaram Rangan, holding that consultancy fees received as a Managing Director should be taxed as professional income, not salary.
Bombay High Court clarifies reassessment under Section 147 of the IT Act in CIT-5 vs. Jet Airways, ruling in favor of the assessee. Read key legal insights.
