Builder’s Cash Receipts: When Can Unexplained On-Money Be Taxed Under Section 69A?
Builder’s Cash Receipts: When Can Unexplained On-Money Be Taxed Under Section 69A? ITAT Mumbai | M/s Madhu Developers | ITA No. 2372/Mum/2023 | Order dated 28 November 2023 The treatment of unaccounted cash receipts from sale of flats can create a difficult tax issue for builders. If loose papers found during a survey… […]
Telangana HC Sets Aside GAAR on ₹49 Crore Bonus-Stripping Loss: On-Market Share Trades Are Not an “Arrangement”
Telangana HC Sets Aside GAAR on ₹49 Crore Bonus-Stripping Loss: On-Market Share Trades Are Not an “Arrangement” Can a taxpayer’s purchase and sale of listed shares through the stock exchange, even if the transactions result in a substantial tax loss, automatically be treated as an “impermissible avoidance arrangement” under GAAR? The Telangana High… […]
Doctor’s Entire Gross Professional Receipts Cannot Be Taxed as Net Income Merely Because Return Was Not Filed: ITAT Chennai
Doctor’s Entire Gross Professional Receipts Cannot Be Taxed as Net Income Merely Because Return Was Not Filed: ITAT Chennai Selvakumar Arumugam v. ACIT, Non Corporate Ward 4(4), Coimbatore | ITA No. 128/CHNY/2026 | AY 2018-19 | ITAT Chennai ‘C’ Bench | Order dated 19 August 2026 Can the Income Tax Department treat a… […]
GST Interest on Retrospective Price Escalation: Can Additional Consideration for Earlier Supplies Attract Interest?
GST Interest on Retrospective Price Escalation: Can Additional Consideration for Earlier Supplies Attract Interest?. GST Interest | Section 50 | Section 142(2)(a) | Price Escalation Clause | Debit Notes | GSTAT Bengaluru When the price of goods supplied earlier is subsequently increased under a Price Escalation Clause, a natural question arises: Is the… […]
₹1.97 Crore in a Minor’s Name, Already Clubbed With Father: Madras High Court Quashes Reassessment Against Minor
₹1.97 Crore in a Minor’s Name, Already Clubbed With Father: Madras High Court Quashes Reassessment Against Minor Section 64(1A) | Section 148A | Section 148 | Minor’s Income | Reassessment | Madras High Court Can the Income-tax Department reopen an assessment in the hands of a minor when the minor’s income is already… […]
6 GOLDEN RULES OF TAX PLANNING – Tax Planning Has Changed – Has Your Strategy Changed?
6 GOLDEN RULES OF TAX PLANNING – Tax Planning Has Changed – Has Your Strategy Changed? “The right to tax planning is a legitimate right of every taxpayer, provided it remains within the framework of law.” Tax is generally considered a cost. However, it is a cost that can, to some extent, be… […]
Destruction of Source of Income: Supreme Court Clarifies When Compensation Becomes a Capital Receipt
Destruction of Source of Income: Supreme Court Clarifies When Compensation Becomes a Capital Receipt Karamchand Thapar & Bros. (P) Ltd. v. CIT — 80 ITR 167 (SC) When Compensation Is Not Income, But Compensation for Losing the Income-Generating Source A compensation receipt can sometimes look like income. It may be received in cash…. […]
Diversion of Income by Overriding Title: When Income Never Becomes the Assessee’s Income
Diversion of Income by Overriding Title: When Income Never Becomes the Assessee’s Income Supreme Court Explains the Difference Between “Diversion of Income by Overriding Title” and “Application of Income”Income Belong to Someone Else Before It Reaches You? One of the most fascinating principles in income-tax law is the distinction between “diversion of income by overriding… […]
Income Tax Department Cannot Recover Pre-Resolution Tax Dues After NCLT Approval of IBC Plan: Gauhati High Court
Income Tax Department Cannot Recover Pre-Resolution Tax Dues After NCLT Approval of IBC Plan: Gauhati High Court Meghalaya Infratech Ltd. | 2026 TAXSCAN (HC) 1678 SEO Title: Gauhati High Court Says Pre-Resolution Income Tax Dues Extinguished After IBC Resolution Plan Approval Meta Description: Gauhati High Court rules that Income Tax Department cannot recover… […]
Himachal Pradesh High Court Quashes ₹117.94 Crore GST Recovery Notice Against Morepen Laboratories: Omitted Rule Cannot Sustain Tax Proceedings Without Saving Provision
Himachal Pradesh High Court Quashes ₹117.94 Crore GST Recovery Notice Against Morepen Laboratories: Omitted Rule Cannot Sustain Tax Proceedings Without Saving Provision Case: Morepen Laboratories Ltd. v. Union of India & Ors. CWP No.: 20929 of 2025 Court: Himachal Pradesh High Court Judgment Date: 12 October 2026 SEO Title: Himachal Pradesh High Court… […]
