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 Court quashed assessment and appellate orders for denying exemption on technical grounds. It emphasised that appellate proceedings are a continuation of assessment and must rectify errors.
Gujarat High Court held that the respondent officer could not have assumed jurisdiction for reopening the assessment since there was nothing which indicate that petitioner has participated knowingly in the sham transaction. Accordingly, order is quashed and set aside.
The High Court set aside a Section 148 notice issued without following the mandatory faceless assessment procedure under Section 144B. It held that such action was without jurisdiction.
The High Court quashed a decades-old TDS prosecution after compounding fees and interest were fully paid. It held that revival of trial violated the right to a speedy trial and constituted abuse of process.
When a resident buys unlisted shares from a non-resident, TDS must be deducted on gross consideration under Section 195, subject to DTAA and surcharge rules.
The new Income-tax Act enhances exemption limits for HRA, education, and defence allowances while deleting certain area-based exemptions.
Misclassification, delayed deposits, or reporting errors in TDS can trigger interest, penalties, and disallowance of expenses under the Income-tax Act.
The Bombay High Court held that a lender’s certificate under Section 24(b) is not required for let-out properties assessed on actual rent. Reassessment beyond four years was invalid as there was no failure of disclosure or fresh tangible material.
The Delhi High Court held that notices issued after the satisfaction note date were time-barred. Following earlier precedent, the impugned notices were set aside.
The Bombay High Court held that failure to furnish a lender’s certificate cannot justify reopening of assessment for a let-out property. It clarified that the certificate requirement under Section 24(b) applies only to self-occupied properties.
