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 Hyderabad held that receipt of more than Rs. 20,000 by way of cash without any reasonable cause is in contravention of provisions of section 269SS of the Income Tax Act. Accordingly, penalty under section 271D duly imposed.
ITAT Delhi held that invocation of revisionary power u/s. 263 of the Income Tax Act unsustainable as Assessing Officer duly carried out all the inquiry before passing assessment order u/s. 143(3) of the Income Tax Act.
ITAT Chandigarh held that reopening of assessment under section 147 of the Income Tax Act based on wrong and irrelevant facts recorded under the reasons recorded for the formation of belief of escapement of income chargeable to income tax is unsustainable in law and liable to be quashed.
Telangana High Court has held that notices and proceedings initiated against the amalgamated Company (i.e. non-existing company) deserves to be set aside/quashed. Accordingly, entire proceedings held as bad-in-law.
CBDT inserts Rule 16D & Form No. 56F -Report for claiming section 10AA deduction vide Notification No. 91/2023-Income Tax dated: 19th October, 2023.
ITAT Mumbai held that the partner should be entitled to all the deductions which he was entitled while computing his share of profits in the firm. Thus, interest expenditure incurred by the assessee, as capital was introduced from borrowed funds, should be allowed as expenditure against remuneration income from the firm.
In a case involving Smt. Madhuvalli Lakamraju vs. ADIT, ITAT Hyderabad deletes the addition under section 68 of the Income Tax Act due to lack of source for cash deposits.
ITAT Delhi restores a case involving Golden Traders vs. ITO due to the assessee’s failure to compile data during the COVID-19 pandemic, challenging an addition under Section 69B.
Kerala High Court’s directive to the IT Commissioner regarding recovery proceedings and an appeal filed by Peroorkada Service Co-Operative Bank Ltd under Section 80P of the Income Tax Act.
Delhi High Court held that the renovation and refurbishment of the rooms, including washrooms and other facilities in the hotel which only improves efficiency of source of profit/income are revenue expenditure.
