ITR Date Extension: The Great Indian Waiting Game
ITR Date Extension: The Great Indian Waiting Game It’s that time of the year again — when coffee turns into our primary source of nutrition, Excel sheets are our best friends, and the entire country collectively asks one question: “Will the ITR date be extended or not?” For taxpayers and professionals alike, this has become… […]
Bareboat Charter Payments to AE Held at Arm’s Length When Key Functions and Risks Lie with Indian JV
Bareboat Charter Payments to AE Held at Arm’s Length When Key Functions and Risks Lie with Indian JV Mumbai ITAT deletes TP adjustment on bare‑boat charter hire in SP Armada Oil Exploration for AY 2021‑22 Introduction: In the case of SP Armada Oil Exploration Private Limited v. Deputy Commissioner of Income Tax – Circle 3(3)(1), Mumbai (ITA No. 6575/Mum/2024 for AY 2021‑22), the… […]
Failure to Grant Cross-Examination in Bogus Purchase Cases – Bombay High Court Upholds Relief, Restricts Addition to 15%
Failure to Grant Cross-Examination in Bogus Purchase Cases – Bombay High Court Upholds Relief, Restricts Addition to 15% Pr. CIT v. Ramelex Pvt. Ltd. (ITA No. 14/2022) Facts: 1. The assessee, Ramelex Pvt. Ltd., engaged in trading activities, was subjected to reassessment under Section 147 of the Income-tax Act. 2. Reopening was based on… […]
CBDT Extends Due Dates for Audit & ITR Filing
CBDT Extends Due Dates for Audit & ITR Filing CBDT has officially extended key due dates for Assessment Year 2025-26 under the Income-tax Act, 1961: Tax Audit Report (Section 44AB) – Extended from 31st October 2025 – 10th November 2025 Return of Income for Audit Cases (Section 139(1)) – Extended from 31st October 2025… […]
CBDT Empowers CIT (CPC), Bengaluru with Concurrent Powers for Rectification:
CBDT Empowers CIT (CPC), Bengaluru with Concurrent Powers for Rectification: Notification No. 155/2025 | Dated: October 27, 2025 Introduction: Issued under Sections 120(1) and 120(2) of the Income-tax Act, 1961, this Notification empowers the Commissioner of Income-tax, Centralized Processing Centre (CPC), Bengaluru, to exercise concurrent jurisdiction with other income-tax authorities. The CIT (CPC), Bengaluru… […]
Guide on TDS Compliance on payment to Non-Resident: All about TDS return filing after payment
Guide on TDS Compliance on payment to Non-Resident: All about TDS return filing after payment When TDS is deducted under Section 194 or Section 195 (which actually applies to payments to non-residents, such as fees for technical services, royalty, interest, or any other sum chargeable under the Act), the process of filing the TDS return is slightly different from… […]
Extension of time lines for filing of CRA -4 till Dec 31
Extension of time lines for filing of CRA -4 till Dec 31 The copy of the Circular is as under: The post Extension of time lines for filing of CRA -4 till Dec 31 appeared first on The Tax Talk.
Prosecution under Section 276C(2) Unsustainable When Entire Tax Paid Before Filing of Complaint
Prosecution under Section 276C(2) Unsustainable When Entire Tax Paid Before Filing of Complaint Madras High Court in G Square Layout Pvt. Ltd. v. DCIT (Crl.O.P.No.22880 of 2025) Facts: 1. The assessed filed its belated return for AY 2023-24 on 31st December 2023, admitting self-assessment tax of ₹ 8.72 crore but did not pay it… […]
Bogus purchases addition under section 69 C rws 115 BBE
Bogus purchases addition under section 69 C rws 115 BBE Jain Brothers v. NFAC, New Delhi-ITAT Delhi – ITA No. 5251/Del/2025 | Pronounced on: 22 October 2025 Facts of the Case • The Assessing Officer (AO) received information from the Investigation Wing that Balaji Trading Company was allegedly issuing bogus purchase bills to several… […]
Significant Economic Presence (SEP) under the Income-tax Act, 2025
Significant Economic Presence (SEP) under the Income-tax Act, 2025 Introduction: 1. The concept of Significant Economic Presence (SEP) is contained in Section 9 of the Income-tax Act, 2025, which takes effect from 1st April 2026. 2. This provision determines when the income of a non-resident shall be deemed to accrue or arise in India… […]
