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 Kolkata held that penalty under section 271B of the Income Tax Act not leviable as turnover of the assessee is less than INR 1 Crore. Accordingly, the assessee is outside the purview of section 44AB of the Income Tax Act.
ITAT Kolkata held that initiation of reassessment proceeding under section 148 of the Income Tax Act for the purpose of mere verification of the claim is unsustainable in law.
Powers, procedures, and purposes of issuing commissions under Section 131(1)(d) of Income-tax Act. Similarities with Code of Civil Procedure, circumstances for issuing commissions, and powers vested in commissioner.
Read the order issued by the Central Board of Direct Taxes (CBDT), Ministry of Finance, specifying the scope of the e-Appeals Scheme under sub-section (6) of section 246 of the Income-tax Act, 1961. The order outlines the categories of appeals that must be completed under the e-Appeals Scheme, except for specific cases mentioned in the order.
Finance Act, 2023 introduced amendments to Section 142(2A) of the Income Tax Act, 1961. This article provides an overview and analysis of the amendments, including changes to inquiry before assessment, expenses of audit or inventory valuation, opportunity of being heard, time limits, power to make rules, and the valuation of inventories.
ITAT Indore held that registration under section 80G duly granted as giving donations to other trusts and societies to enable those trust and societies undertake their charitable activities is also one of the way of carrying out charitable activity.
ITAT Delhi held that assessee being a local authority is not engaged in business or earning profit, accordingly, penalty u/s 271B for not getting accounts audited unsustainable.
ITAT Mumbai held that when appellant objects to the adoption of stamp duty value in terms of section 50C(1) of the Income Tax Act as full value of consideration, AO is under obligation to refer the matter to the valuation officer under section 50C(2) of the Income Tax Act.
ITAT Kolkata remanded the matter back to AO for the purpose of verification of documents and materials placed on record in respect of anonymous donations as well as the explanation for receipt of hall rent and accommodation so as to allow the claim of exemption u/s. 10(23C)(iiiad) of the Act.
ITAT Bangalore held that co-operative bank is liable to furnish AIR only after 01.04.2016 in view of amendment under Rule 114E of Income Tax Rules, 1962. Accordingly, imposition of penalty u/s 271FA prior to 01.04.2016 is unsustainable.
