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...
The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certain cases. Tax professionals must carefully examine applicability based on the relevant tax year.
The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. The move is positioned as a taxpayer-friendly reform aimed at reducing coercive recovery measures.
The Bombay High Court held that reassessment proceedings issued beyond three years for AY 2018-19 were invalid because approval was granted by the Principal Commissioner instead of the competent authority under Section 151(ii).
The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research purposes. The approval remains valid from AY 2026-27 to AY 2030-31 and enables tax benefits linked to scientific research.
The Supreme Court upheld the High Court ruling that approval stating fit case for reopening satisfied Section 151 requirements. The reassessment proceedings linked to alleged accommodation entries were restored.
The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ruled that brand promotion does not create an enduring capital asset or goodwill.
The article explains how Section 115BAE offers newly established co-operative societies a concessional 15% tax rate for manufacturing activities. It highlights the provision’s potential to transform co-operatives into industrial growth engines.
The Calcutta High Court held that the assessing officer misconstrued CBDT Circular No. 11 of 2024 while rejecting carry forward of loss due to a seven-day filing delay. The Court directed the authorities to condone the delay and process the return according to law.
The Supreme Court dismissed the Revenue’s SLP after the Calcutta High Court upheld the ITAT finding that reassessment proceedings were invalid as the AO had only suspicion and no valid reason to believe income escaped assessment.
The High Court ruled that reopening under Sections 147 and 148 was unsustainable because the Assessing Officer’s reasons amounted only to suspicion and not a valid reason to believe income had escaped assessment.
