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 Kerala High Court held that the Commissioner’s suo motu revision under Section 263 was unjustified, confirming that donations to other charitable trusts qualify as application of income under Section 11.
Chhattisgarh High Court held that TCS provisions covered under section 206C(1C) of the Income Tax Act doesn’t apply to amount of compounding fees/ fine that was recovered from illegal miners and transporters of minerals.
Gujarat High Court held that Explanation to section 73(1) of the Income Tax Act cannot be applied to loss on sale of shares which were acquired on conversion of partly convertible debentures. Hence, loss on sale of such shares is not speculation loss and hence set off allowed.
The Court held that a penalty under Section 271(1)(c) could not be imposed while the quantum appeal was still pending before the ITAT. The penalty was stayed for being premature under Section 275(1)(a).
The Tribunal emphasized that an error regarding VRS exemption made by a salaried, non-technical taxpayer cannot be classified as deliberate under-reporting. With no false claim or suppression, the 270A penalty was deleted.
ITAT Mumbai confirmed loans from Hallow Securities and Dhankalash were genuine, rejecting Revenue’s allegations of shell-company loans. Interest claimed on these loans was also allowed. The ruling highlights the importance of corroborative evidence in section 68 assessments.
Tribunal clarified that mere generation or digital signing on ITBA does not mean a notice is issued. Proper dispatch to the assessee’s email or portal before the statutory deadline is required for validity.
Explains how salary is defined under tax law, including employer–employee requirements, included payments, and taxable perquisites. Highlights key distinctions from professional and business income.
Learn the role of DFC, why taxpayers get automated demand reminders, and how to respond without stress or confusion.
The new provisions treat buyback proceeds as deemed dividend taxable in shareholders’ hands. This marks a clear shift of tax liability from companies to investors.
