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...
ITAT Delhi invalidated a reassessment under Sections 144/147, citing mechanical approval by authorities and incorrect statutory references. The ruling reinforces that higher authorities must apply proper legal mind when granting sanction under Section 151.
ITAT Mumbai held that no extrapolation can be done on estimation basis in absence of any incriminating material. Accordingly, addition rightly deleted by CIT(A). Thus, order of CIT(A) upheld and appeal of revenue dismissed to that extent.
Kerala High Court held that declaring income and paying tax under Income Tax Act does not preclude action under the Benami Transactions Act, as both operate independently.
Tribunal held that tax authorities erred in invoking Article 24A to deny capital gains exemption under Article 13(4A) without first satisfying preconditions of economic substance. The decision underscores that anti-abuse provisions cannot override bona fide investments made before 2017.
ITAT Delhi held that penalties were invalid where the Assessing Officer failed to specify the exact charge—concealment, inaccurate particulars, under-reporting, or misreporting. The Tribunal reaffirmed that vague notices under Sections 271(1)(c) or 270A are legally unsustainable.
The ITAT Delhi held that reassessment under Section 147 was invalid where the AO failed to record any allegation of the assessee’s failure to disclose material facts. The ruling reaffirms that reopening beyond four years requires strict compliance with the proviso to Section 147.
Understand deferred tax assets and liabilities under the Income-tax Act, 1961 — their meaning, recognition, timing vs. permanent differences, and impact on future tax liabilities and refunds.
Understand tax implications of Joint Development Agreements (JDA) under Section 45(5A). Learn how capital gains, consideration value, period of holding, and TDS under Section 194-IC are calculated for individuals and HUFs.
Delhi High Court directed payment of ₹ 36.85 lakh plus interest after Income-Tax Department delayed acting on ITAT order on indexation for inherited asset of AY 2016-17.
The Delhi High Court held that reassessment under Section 153C cannot exceed the ten-year block calculated from the date of handover of seized materials, setting aside notices for AYs 2010–11 to 2015–16.
