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...
Delhi High Court held that reinitiating of reassessment action u/s. 148 of the Income Tax Act on the same set of reasons on which assessment proceedings had already been concluded is unjustified and hence liable to be set aside.
When assessee had both trade receivables and trade payables, it would be unreasonable to calculate interest only on trade receivables for the purpose of determining the ALP of the transaction. AO/ TPO was directed to consider both trade payables and trade receivables for the purpose of notional interest to be charged for determining the ALP value of the transaction.
Karnataka HC rules reassessment under Section 153A impermissible without incriminating evidence, upholding deletion of assessed income.
Reopening of assessment was initiated before the lapse of four years, and there was no scope for interference with the Income Tax authorities’ reopening decision if escapement income was found.
Assessee had claimed a tax exemption under Section 10(23C)(vi) which allowed tax exemptions for educational institutions provided certain conditions prescribed by the Chief Commissioner of Income Tax (CCIT) were met.
Alena Cyprus had also filed its return of income in India for the AY 2018-19 wherein LTCG of Rs. 80,86,75,225 arising from sale of shares to assessee were declared exemption claimed under Article 13 of the India-Cyprus DTAA.
Karnataka HC rules that land sale value for tax should be based on the agreement date, not registration date, under Section 50C of the Income Tax Act.
Learn the key changes in income tax slabs for AY 2024-25 & 2025-26 under section 115BAC, including standard deductions and new tax rates.
Madras High Court held that addition towards difference between purchase value and guideline value without awaiting report of valuation officer, as matter was referred to valuation officer, is clearly unsustainable.
Delhi High Court held that deduction of tax by Land Acquisition Collector is duly, however, the same was not reflected in Form 26AS. Thus, petitioner cannot be penalized for mere reason that Form 26AS suffered from a discrepancy.
