CA, CS, CMA : A comprehensive guide covering 175 legal compliances for July 2026 under FEMA, Income Tax, GST, SEBI, Companies Act, Labour Laws, ...
Income Tax : The Income-tax Act does not prescribe a single definition of "relative" for all purposes. Different provisions such as Sections 13...
Income Tax : Understand when 1% TDS applies on purchase of immovable property under Section 194-IA. Learn the Rs. 50 lakh threshold, compliance...
Income Tax : This guide explains when NRIs should use Form 128 and when payers should use Form 129 to reduce or eliminate excess TDS. It also c...
Income Tax : The article argues that Section 58(3) of the Income-tax Act, 2025 does not independently mandate books of account or tax audit for...
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 : Madras HC set aside cognizance under the Income-tax Act, holding Section 223(1) BNSS mandates hearing the accused before cognizanc...
Income Tax : ITAT Mumbai quashed reassessment after finding no Section 143(2) notice and that the AO issued a final order disguised as a draft ...
Income Tax : Gujarat HC quashed a Section 148 notice, holding that a seized inquiry register without a live nexus to the assessee cannot justif...
Income Tax : Gujarat HC quashed Section 148 reassessment as it was issued beyond Section 149 limitation, holding Section 152(3) applies to sear...
Income Tax : Madras HC held that merely issuing a corrigendum acknowledging the return did not rectify the defective assessment process and ord...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
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.
The High Court quashed an assessment order passed without granting personal hearing despite a written request. It held that refusal on technical grounds violated principles of natural justice.
The Court ruled that excise duty refund received under an incentive scheme was a capital receipt and not taxable. It also rejected reduction from the block of assets.
The High Court dismissed the appeal holding that stock statements forming the basis of overdraft drawing power could not be disowned without contrary evidence. Addition was sustained after opportunities were granted to disprove the statements.
The Court set aside the Section 197 order holding that distribution fees were treated as royalty without concrete reasoning. It directed issuance of a NIL tax withholding certificate.
The Court held that failure to comply with payment conditions under the 2020 Scheme automatically revived withdrawn revision petitions. This made the assessee eligible under the 2024 DTVSV Scheme.
Sections 4, 5, and 14, together provides the legislative framework for imposing the income tax, identifying the extent of taxable income, and categorizing income into various heads for computational purpose, all these provisions provide the basis of this Act’s tax system
