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...
Gujarat High Court held that in case reopening of assessment based on material which satisfied to harbour reasons to believe that there was escapement of income, then, such reopening of assessment is justifiable.
ITAT Kolkata held that addition of sales reversal entry alleging the same as unexplained expenditure is unjustified and unsustainable in law.
ITAT Mumbai held that penalty u/s 271(1)(c) of the Income Tax Act unsustainable as entire addition is made on estimation basis and at no point of time it is proved that assessee has concealed the particulars of income or has furnished inaccurate particulars of income.
ITAT Hyderabad held that addition towards unexplained cash deposit unsustainable as onus of establishing the creditworthiness and genuineness of the transaction duly proved by the assessee.
ITAT Ahmedabad held that when interest free funds are available with the assessee, it can be said that investments are made out of interest free funds and hence disallowance under section 36(1)(iii) of the Income Tax Act not justifiable.
Explore the tax implications of winnings from online gaming platforms like Dream11 in India. Learn about the classification of income, taxation rates, TDS deductions, reporting requirements, and compliance measures. Ensure accurate filing to avoid penalties.
In this article, we will delve into the details of Form 35 CIT Appeal, exploring its significance, the process involved, and key considerations for taxpayers.
ITAT Chennai held that addition under section 69 of the Income Tax Act sustained as no corroborative evidence produced to prove the source for the cash deposits during demonetization period.
ITAT Chennai held that addition u/s 69 towards unexplained money sustained on failure to explain the source of the cash deposits with necessary evidences.
ITAT ruled that capital gains on sale of unlisted shares by a non-resident must be computed strictly as per Section 112(1)(c)(iii) of Income Tax Act without considering computation provisions under Section 48.
