Ignoring binding precedent is not judicial independence-it is a mistake. ITAT can entertain Miscellaneous Application (MA) make rectification under Section 254(2)
Ignoring binding precedent is not judicial independence-it is a mistake. ITAT can entertain Miscellaneous Application (MA) make rectification under Section 254(2) In tax litigation, one of the most underestimated yet powerful remedies is the Miscellaneous Application under Section 254(2) of the Income-tax Act. Many practitioners treat it as a limited rectification tool-but a recent landmark ruling… […]
Mechanical Approval u/s 151 & Wrong Jurisdiction: Reassessment Held Invalid by ITAT Delhi
Mechanical Approval u/s 151 & Wrong Jurisdiction: Reassessment Held Invalid by ITAT Delhi Reassessment under Section 147 of the Income Tax Act is not merely a procedural exercise-it requires strict compliance with jurisdictional conditions and statutory safeguards. In a significant ruling, the Delhi ITAT has once again reiterated that mechanical approval under Section 151 and assumption of… […]
Reassessment Cannot Become a Fishing Expedition: No Addition on Recorded Reason, No Valid Reopening
Reassessment Cannot Become a Fishing Expedition: No Addition on Recorded Reason, No Valid Reopening Reassessment under Section 147 of the Income Tax Act is often a matter of intense litigation. A crucial legal principle has now been reiterated by the Delhi ITAT—if no addition is made on the issue for which reassessment was initiated,… […]
Tax Changes from 1 April 2026: Big Relief for Salaried Employees & Senior Citizens | Allowances, HRA & New Forms Explained
Tax Changes from 1 April 2026: Big Relief for Salaried Employees & Senior Citizens | Allowances, HRA & New Forms Explained From 1st April 2026, a series of important tax changes come into effect that directly impact salaried employees and senior citizens. These reforms focus on higher tax-free allowances, stricter documentation, and simplified compliance,… […]
Startup Tax Holiday Gets a Big Boost: Eligibility Limit Raised to ₹300 Crore
Startup Tax Holiday Gets a Big Boost: Eligibility Limit Raised to ₹300 Crore In a significant move aimed at strengthening India’s startup ecosystem, the Finance Bill 2026 has expanded the scope of the much-discussed startup tax holiday. With effect from April 1, 2026, the turnover eligibility limit for claiming tax benefits under Section 80-IAC (now… […]
Section 68 & The Case of the Missing Directors: When Suspicion Took a Beating
Section 68 & The Case of the Missing Directors: When Suspicion Took a Beating If there is one section in the Income Tax Act that refuses to retire, it is Section 68. Like that one over-enthusiastic guest at a wedding who just won’t leave, Section 68 keeps appearing in assessments-especially wherever there is share… […]
New Income Tax Act 2025 – Can the Department Access Your WhatsApp, Emails & Digital Life? (Part-2)
New Income Tax Act 2025 – Can the Department Access Your WhatsApp, Emails & Digital Life? (Part-2) In the last few months, social media has been flooded with alarming messages – “From 1-4-2026, the Income Tax Department can read your WhatsApp chats, emails and social media messages.” For many taxpayers, this sounds less like a tax… […]
Finance Bill 2026: Not Just Tweaks, But a Silent Tax Revolution
Finance Bill 2026: Not Just Tweaks, But a Silent Tax Revolution The Finance Bill 2026, as passed by the Lok Sabha, may look like a routine annual exercise. But scratch beneath the surface, and it reveals a series of powerful, structural changes that will quietly reshape tax administration, litigation, and taxpayer rights in India…. […]
CBDT Extends Due Date for TDS Certificates (Q3 FY 2025–26) to 31 March 2026
CBDT Extends Due Date for TDS Certificates (Q3 FY 2025–26) to 31 March 2026 The Central Board of Direct Taxes (CBDT), vide Circular No. 02/2026 dated 25 March 2026, has extended the due date for issuance of TDS certificates for the quarter ending 31 December 2025. As per Section 203 read with Rule 31,… […]
Section 68: When Paper Speaks Louder Than Presence – A Big Relief for Genuine Share Capital Cases
Section 68: When Paper Speaks Louder Than Presence – A Big Relief for Genuine Share Capital Cases In income tax proceedings, few provisions create as much anxiety as Section 68. Especially when it comes to share capital and share premium, the Assessing Officer often becomes suspicious-sometimes excessively so. A recent decision of the Calcutta… […]
