The introduction of the Income Tax Act, 2025 marks a significant transformation in India’s taxation framework, particularly in the area of Tax Deducted at Source (TDS). For decades, professionals and businesses have navigated a complex web of multiple TDS provisions under the …
The Calcutta High Court has once again reinforced the foundational principle of natural justice by holding that a final assessment order passed without granting a personal hearing is legally unsustainable—even in cases where a pre–show cause notice (SCN) hearing is …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has clarified that once a taxpayer opts for presumptive taxation under Section 44AD of the Income Tax Act, no separate addition can be made under Section 43CA of …
The recent decision of the Delhi High Court in MakeMyTrip (India) Pvt. Ltd. v. DCIT serves as a significant reminder of the importance of reasoned decision-making by tax authorities, especially in matters involving applications for lower or nil tax deduction at source …
In a major relief for taxpayers, the Gujarat High Court has ruled that the Commissioner of Income Tax (CIT) cannot reject an application for condonation of delay by citing reasons that are completely outside the scope of that specific application. …
A landmark ruling by the Jammu & Kashmir and Ladakh High Court (March 2026) has provided a crucial lifeline for taxpayers who defaulted on payments under the original Direct Tax Vivad Se Vishwas (DTVSV) Act, 2020. The court clarified that a payment default …
In a significant ruling, the Bombay High Court has clarified that the limitation period for passing an order treating a person as an “assessee in default” under Section 201 of the Income Tax Act, 1961 must be calculated quarter-wise based on the filing …
In a notable ruling, the Income Tax Appellate Tribunal (ITAT), Delhi Bench has quashed reassessment proceedings initiated against former IPL commissioner Lalit Kumar Modi concerning alleged unexplained credit card expenditure and private jet travel costs. The Tribunal held that reassessment proceedings cannot be initiated …
In a recent regulatory disclosure, Polycab India Limited informed stock exchanges that it has received an income tax assessment order raising a demand of approximately ₹327.45 crore for the Assessment Year (AY) 2024-25 (corresponding to FY 2023-24). The order has …
In a significant ruling under the Income-tax Act, the Delhi High Court has held that the Competent Authority is bound to issue a nil-rate TDS certificate under Section 197 when an earlier High Court decision between the same parties has already settled the issue …
The Draft Income Tax Rules, 2026, released by the Central Board of Direct Taxes (CBDT) in January 2026, mark a major step toward implementing the new Income Tax framework that will replace the six-decade-old Income Tax Act, 1961. These rules are …
In a significant ruling reinforcing a justice-oriented approach, the Telangana High Court condoned a delay of 202 days in filing an appeal before the Income Tax Appellate Tribunal (ITAT), acknowledging the severe impact of the COVID-19 pandemic on business operations. The decision, …
The Supreme Court of India is currently hearing a significant public interest litigation (PIL) that questions the constitutional validity of the Income Tax Department’s powers to conduct search and seizure operations—particularly involving digital devices—without prior notice. The petition has been …
In a significant ruling in Bank of India v. Assistant Commissioner of Income Tax – ITA Nos. 1767 & 2048/Mum/2019, reported as [2026] 183 taxmann.com 429 (Mumbai – Trib.), the Income Tax Appellate Tribunal examined two important issues concerning the taxation of banking …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT) has deleted an addition of Rs. 35.22 lakh made on account of cash deposits during the demonetisation period. The Tribunal accepted the assessee’s explanation that the deposits were backed by genuine cash …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that a charitable trust cannot be denied approval under Section 80G of the Income Tax Act merely because one of its objects involves organising programmes such as Ramkatha, Bhagwat Katha, …
In a significant ruling on tax deduction at source (TDS) obligations, the Delhi High Court has dismissed three appeals filed by the Income Tax Department against Mahagun Developers in a dispute concerning lease rent payments made to the NOIDA Authority. …
A Public Interest Litigation (PIL) has been filed in the Supreme Court of India under Article 32 of the Constitution, challenging the constitutional validity of certain powers granted to Income Tax authorities under the newly enacted Income Tax Act, 2025. The main grievance is that the law permits tax …
The Draft Income Tax Rules 2026 have introduced major proposals aimed at revising PAN quoting requirements, enhancing reporting norms for crypto transactions, and updating several tax-related provisions. These rules are expected to modernise compliance and align with the upcoming Income Tax Act, 2025, which will …
Section 41(1) of the Income Tax Act is triggered only when an assessee derives a real benefit due to remission or cessation of a trading liability. In recent years, the transfer of stressed loans by banks to Asset Reconstruction Companies …