Delhi High Court Allows Manual ITR-6 Filing Due to Software Glitch, Upholds Taxpayer’s Right to Carry Forward Losses

Cosmo Films Ltd vs CBDT | Landmark Delhi High Court Ruling In a significant ruling that reinforces taxpayer rights in the digital era, the Delhi High Court has permitted manual filing of ITR-6 after a software error denied rightful tax benefits to Cosmo Films Limited. …

Read more

Please share

Income Tax Return FY 2024-25: Applicability of ITR Forms for Different Taxpayers

The Income Tax Department of India has prescribed different Income Tax Return (ITR) forms for different categories of taxpayers, depending on their residential status, nature of income, and amount of income. Selecting the correct ITR form is crucial for accurate filing, compliance, and avoiding notices or …

Read more

Please share

Why You Shouldn’t Rely Solely on AIS While Filing Your Income Tax Return: Here’s What Taxpayers Must Do

As the income tax return (ITR) filing deadline of September 15 approaches, taxpayers are gearing up to gather all necessary financial information. To ensure accuracy in ITR filing, individuals often refer to multiple documents such as Form 16, Form 26AS, and the Annual Information Statement …

Read more

Please share

Income Tax Bill 2025: Select Committee Retains Controversial Powers of Tax Officials Accessing Emails and Social Media During Raids

The Income Tax Bill 2025, introduced by the Indian government as a complete overhaul of the 1961 Act, seeks to modernize tax administration and enforcement mechanisms. A key and controversial provision of this Bill is the explicit legal empowerment of income tax …

Read more

Please share

AO Cannot Review Concluded Order under Section 148A(d) on PCIT’s Direction: Delhi High Court Quashes Reassessment in Baba Global Case

In a significant ruling reinforcing procedural integrity under the reassessment regime, the Delhi High Court in the case of Baba Global Ltd v. ACIT, Central Circle 29 & Ors., held that an Assessing Officer (AO), after having passed a reasoned order under Section 148A(d) dropping …

Read more

Please share

What Resident Indians should Know about their Tax Liability when Making Immovable Property Transaction with NRIs: A Complete Guide

When a resident Indian enters into an immovable property transaction with a Non-Resident Indian (NRI) — such as buying property from or selling property to an NRI — the tax implications are significantly different from regular resident-to-resident transactions. Here’s what resident Indians should definitely know: 🧾 …

Read more

Please share