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...
Automated risk alerts are delaying income-tax refunds without clear reasons. The law allows withholding only through statutory processes, not internal analytics.
Taxpayers receiving emails about undisclosed foreign assets must revise returns using Schedule FA, FSI, and TR in ITR-2/3. Learn the steps to ensure compliance and avoid penalties.
Supreme Court held that deduction under section 36(1)(viii) of the Income Tax Act is not general exemption. Such deduction is specific incentive attached strictly to the profits arising from a defined activity namely, the provision of long-term finance.
Refunds for AY 2025–26 are being withheld after system-based risk checks detected discrepancies. Taxpayers are advised to review claims and file revised returns to unblock refunds.
Kerala High Court held that Bank is not required to deduct TDS on interest paid to senior citizen who has provided Form 15H. Accordingly, Bank cannot be considered as assessee in default for non-deduction of such TDS.
Cash deposits were rightly taxed as unexplained money when the assessee failed to discharge the primary burden of proof. Absence of contemporaneous evidence defeats claims of redeposit of cash.
Supreme Court upheld the quashing of reassessment where scrutiny queries on deductions were earlier examined. It held that reopening based only on reappraisal of the same material amounts to an impermissible change of opinion.
The Court held that relief cannot be denied under Section 264 merely because a similar issue was earlier pending before the Supreme Court. The revision application was allowed as the issue was already covered by binding High Court rulings.
Madras High Court held that addition under section 68 of the Income Tax Act towards unexplained cash credit merely on the basis of certain statement without considering documentary evidence is not justifiable. Accordingly, writ of revenue is dismissed.
The Delhi High Court rejected the Revenue’s transfer pricing appeals, holding that no substantial question of law arose. The ruling followed earlier decisions on identical issues for prior years.
