S. 153C Notices Quashed as Time-Barred: Delhi High Court Reaffirms Limitation Based on Satisfaction Note Date
The Delhi High Court has quashed notices issued under Section 153C of the Income Tax Act, 1961 for Assessment Years 2010-11 to 2013-14, holding...
Compensation Paid Towards Exchange Rate Fluctuation Loss Is Allowable Deduction: Madras High Court
The Madras High Court has held that compensation paid towards exchange rate fluctuation loss pursuant to commercial expediency is an allowable deduction, even if...
Challenge to Income Tax Department’s Digital Search, Seizure Powers: Supreme Court
A writ petition filed by Advocate Pranjal Kishore questioning the constitutional validity of the Income Tax Department’s powers to conduct digital search and seizure...
Delhi High Court Rejects Dept.’s Appeals on TDS Liability for Lease Rent
The Delhi High Court has dismissed three appeals filed by the Income Tax Department challenging orders of the Income Tax Appellate Tribunal (ITAT) pertaining...
How to Avoid TDS on Cash Withdrawal?
Section 194N of the Income-tax Act, 1961 mandates deduction of tax at source (TDS) on cash withdrawal exceeding specified thresholds from banking companies, co-operative...
Draft Income-tax Rules, 2026: 10 Changes That Could Impact Your Salary, Property Deals, Banking, Investments From April 1
The Central Board of Direct Taxes (CBDT) has unveiled the Draft Income-tax Rules, 2026, which are set to replace the Income-tax Rules, 1962 which...
Delhi High Court Quashes Transfer Pricing Order for Failure to Provide Relied-Upon Agreements to Assessee
The Delhi High Court has set aside an order passed by the Transfer Pricing Officer (TPO) holding that an assessee must be supplied copies...
CBDT to Consolidate Multiple Tax Audit Forms Under Form 26 Framework
The Central Board of Direct Taxes (CBDT) has unveiled Draft Form 26, introducing a revamped audit reporting format under the Income Tax Act, 2025....
New Income Tax Audit Form 26: What Businesses Need to Know?
The release of Draft Form 26 under the Draft Income-tax Rules, 2026 marks one of the most significant reforms in India’s tax audit architecture....
Income Tax Dept. to Use GST Data to Find Hidden Income, Boost Tax Collections
The Income Tax Department is increasingly turning to data analytics and information available under the Goods and Services Tax (GST) framework. The move comes...
Providing ‘Relied Upon Material’ In SCN Is Not Procedural Requirement: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the reassessment proceedings holding that the notice issued under Section 148 of...
Separate PAN Not Ground to Deny AIF Benefits: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that exemption under Section 10(23FBA) of the Income-tax Act cannot be denied...
No Employer-Employee Relationship Between Diagnostic Firm and Consultant Doctors; TDS Under S. 194J Valid: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld that payments made by a diagnostic company to its consultant doctors are...
Replacing Dies and Moulds Is Not Capital Spend: Madras HC Upholds Relief to TVS Motor
The Madras High Court has dismissed a long-pending income tax appeal filed by the Income Tax Department against TVS Motor Company Ltd., affirming multiple...
Factual Disputes Must Be Decided by AO: Delhi High Court Refuses to Quash Reassessment Notice
The Delhi High Court has declined to quash a reassessment notice issued under Section 148 of the Income Tax Act, 1961, holding that disputes...
Booking.com’s Commission Income Not Taxable in India in Absence of PE : ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that commission income earned by Booking.com B.V., a Netherlands-based online accommodation booking...
Reassessment Based Solely on Audit Objection Invalid: Allahabad HC
The Allahabad High Court has quashed reassessment proceedings initiated against leather exporter for Assessment Year 2017–18, holding that reassessment cannot be sustained when it...
Draft Income-tax Rules, 2026 Propose Mandatory CA Verification for Foreign Tax Credit Claims
The Central Board of Direct Taxes (CBDT), through the Draft Income-tax Rules, 2026, has proposed a significant compliance change for taxpayers claiming Foreign Tax...
NPO Merger Rules Amended: New Section 354A to Exempt Accreted Income Tax from April 2026
Under the Income-tax Act, 1961, Chapter XII-EB deals with the taxation of accreted income of certain specified entities, including charitable and non-profit organisations (NPO)....
Short-Term Loan Repaid in 2 Days Can’t Be Treated as Bogus Without Proper Enquiry: Delhi High Court
The Delhi High Court has dismissed an appeal filed by the Income Tax Department against Sperry Plast Ltd., holding that merely because a loan...
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