Taxation of Sale of Under-Construction Property Before Registration
Taxation of Sale of Under-Construction Property Before Registration Buying an under-construction flat or property has become very common in India. But what happens if you decide to sell your rights in that property before registration or possession? Will the gain be taxed as capital gains or as income from other sources? This question is one of the most debated… […]
Delhi High Court Allows Consolidated Show Cause Notices in GST ITC Fraud Cases
Delhi High Court Allows Consolidated Show Cause Notices in GST ITC Fraud Cases Case: Ambika Traders v. Additional Commissioner, Adjudication DGGSTI, CGST Delhi North Court: Delhi High Court (Justices Prathiba M. Singh & Rajneesh Kumar Gupta) Date of Decision: 29th July 2025 Introduction One of the hotly debated issues in Goods and Services Tax (GST) litigation is whether… […]
Calcutta High Court Quashes Reassessment: Borrowed Satisfaction Cannot Justify Reopening
Calcutta High Court Quashes Reassessment: Borrowed Satisfaction Cannot Justify Reopening Case: PCIT-1, Kolkata vs. Krishna Nirman Pvt. Ltd. Citation: ITAT/126/2025, Order dated 31st July 2025 Court: Calcutta High Court (Chief Justice T.S. Sivagnanam and Justice Chaitali Chatterjee Das) Introduction Reassessment proceedings under Section 147 of the Income Tax Act, 1961 are meant to plug tax leakages where income… […]
Charitable Trust Renewal & Tax Audit Deadlines: A Stressful September Ahead for CAs
Charitable Trust Renewal & Tax Audit Deadlines: A Stressful September Ahead for CAs Friends, September this year is shaping up to be one of the toughest months for both charitable trusts and tax professionals. All charitable trusts that were already registered under Section 12A or Section 10(23C)(vi) of the Income Tax Act, and had earlier received a 5-year registration from CPC valid… […]
ITAT Delhi: Secondment of Employees Does Not Create Fixed Place PE under India–Japan DTAA
ITAT Delhi: Secondment of Employees Does Not Create Fixed Place PE under India–Japan DTAA Mitsui Mining and Smelting Company Ltd. v. ACIT, International Taxation Citation: [2025] 177 taxmann 434 (Delhi – Trib.) (ITAT Delhi, 31 July 2025) Core issue: Whether secondment of Japanese employees to the Indian subsidiary (Mitsui Kinzoku Components India Pvt. Ltd.)… […]
Agricultural Income: A Comparative Analysis of the 1961 and 2025 Income-tax Acts:
Agricultural Income: A Comparative Analysis of the 1961 and 2025 Income-tax Acts: Agricultural Income: A Comparative Analysis of the 1961 and 2025 Income-tax Acts: Both the Income-tax Act, 1961 (old law) and the Income-tax Act, 2025 (new law, effective 1 April 2026) define agricultural income in Section 2(1A) (1961 Act) and Section 2(5) (2025 Act)… […]
Punjab & Haryana High Court Grants Bail to Income Tax Officer in ₹25 Lakh Bribery Case
Punjab & Haryana High Court Grants Bail to Income Tax Officer in ₹25 Lakh Bribery Case The Punjab and Haryana High Court has granted bail to an Income Tax Officer accused in a ₹25 lakh bribery case, clarifying that direct bail pleas can be entertained in exceptional circumstances. Justice Sumeet Goel allowed the petition, observing… […]
Widow entitled to TDS in the name of her late husband, after she had declared his income in her own tax returns (ITRs): ITAT
Widow entitled to TDS in the name of her late husband, after she had declared his income in her own tax returns (ITRs): ITAT Lovely Das Versus Addl/JCIT (Case No.: I.T.A. Nos.: 291, 292, 293 & 294/KOL/2025) Facts: 1. The appellant, Lovely Das of Kolkata, became proprietor of her late husband Jagbandhu Das’s sole… […]
The Finance Act, 2025, due to a drafting lapse, inadvertently reduced the standard deduction under the new tax regime from ₹75,000 to ₹50,000, for FY 25-26
The Finance Act, 2025, due to a drafting lapse, inadvertently reduced the standard deduction under the new tax regime from ₹75,000 to ₹50,000, for FY 25-26 So lets understand the drafting part-how a small drafting error can significant impact:- Proviso to S.16(a)(i) for standard deduction, links its availability to the concessional tax regime under… […]
Lack of Enquiry vs. Inadequate Enquiry’ – ITAT Chennai Allows Appeal, Strikes Down 263 Order
Lack of Enquiry vs. Inadequate Enquiry’ – ITAT Chennai Allows Appeal, Strikes Down 263 Order Subramaniam Mohan Sundaram & Ors. v. PCIT (Central)-2, Chennai (ITA Nos. 951–959/Chny/2025) Facts: 1. A survey u/s 133A was conducted on 26.11.2019, revealing certain investments in immovable property and FDs. Case was reopened by notice u/s 148 on 31.03.2021…. […]
