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...
ITAT Bangalore held that the provisions of section 68 of the Income Tax Act cannot be applied in relation to the sales receipt of preference shares shown by the assessee in its books of accounts as sales receipt has already been shown in the books of accounts as income/loss at the time of sale only.
Explore the Delhi High Court’s judgment on CIT – International Taxation, highlighting the invalidity of invoking S. 263 without satisfying twin conditions. Full analysis and implications.
Bombay High Court held that plea of defect in the notice cannot be accepted as it had caused no prejudice to the assessee and the assessee “clearly understood” what was the purport and import of notice issued under section 274 read with Section 271 of the Act.
Delhi High Court disposes of CIT Vs Zaheer Mauritius appeals, addressing taxability and capital gains nature of Compulsorily Convertible Debentures under India-Mauritius DTAA.
Explore the ethical foundations for tax compliance in Sikhism, drawing lessons from Sri Guru Granth Sahib Ji. Understand the principles of honesty, sharing, and societal well-being.
HC court upheld factual findings of lower authorities, emphasizing its limited jurisdiction under Section 260A of Income Tax Act. It clarified that it cannot reevaluate questions of fact in the absence of any grounds alleging perversity in the findings.
ITAT Chennai’s in Ethiraj Hotel Mart Vs DCIT held that as assessee declared excess stock as business income and provided a plausible explanation for its source, it should be taxed as ‘normal business income’ and not as ‘unexplained investment’ under section 69B.
Explore the recent ruling by the Madras High Court in N. Kannammal vs. Assessment Unit, highlighting the petitioner’s challenge against an unjust assessment order under Income Tax Act, 1961, dated 07.12.2022, and the court’s directive for a fresh consideration, emphasizing procedural fairness and natural justice.
Explore the impact of removing Section 36(1)(va) for employer contributions under Section 43B. Learn how it affects Provident Fund, ESI, and the call for equitable tax treatment.
Bombay High Court held that if an irrelevant matter is not struck off in the notice, it indicates the AO’s uncertainty regarding the basis for imposing the penalty. Such ambiguity implies non-application of mind, rendering the notice invalid.
