CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
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 : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
Karnataka HC quashes CBDT order under Section 119(2)(b) and condones 2-hour delay in ITR filing due to genuine hardship. Returns for AY 2019-20 to be processed.
Karnataka High Court rules on a 7-day response requirement for Section 148A(b) IT notices in Shivakumaraswamy Credit Co-op Society case, setting aside assessment orders.
Karnataka HC sets aside IT penalty on Cooperative Society due to unexplained genuineness doubts. Case sent back to AO for re-examination of cash deposit transactions.
Interest income from bank deposits is eligible for deduction under Section 80P(2)(a)(i) as the funds in the voluntary reserves which were utilized for investment by the co-operative banks were the funds generated from the banking business.
As per AO, Shri Birat Chandra Dagara was one of the partner of the assessee firm and had owned the mining lease and submitted the details as per which the assessee was found indulged in the illegal production of iron ore.
Rajasthan High Court held that share of the employee in the provident fund deducted by the employer, has to be deposited as per the due date fixed by the EPF Act and ESI Act concerned and not as per Section 43B of the Income Tax Act.
Revision order was remanded back for re-examination of assessee qualification as venture capital as where the amount had been received from the Venture Capitalists, the provisions of section 56(2)(viib) were not applicable.
Further, revenue also contested that whether the ld. CIT(A) was justified in treating the excise duty refund of Rs 1,63,15,661/- as capital receipt, which were earlier treated as revenue receipt, in the facts and circumstances of the case.
Kerala High Court held that TDS never deducted and entire amount of TDS was paid along with penal interest hence initiation of prosecution under section 276B of the Income Tax Act unjustified. Accordingly, all the proceedings quashed.
Portion attributable to utilisation for import of assets into India must be capitalised under Section 43A, while the portion attributable to utilisation for acquiring assets from within India must be treated as revenue expenditure under Section 37(1) of the Act.
