Stay of Demand and the 20% Recovery Rule: CBDT Instructions and Judicial Reinforcement by the Bombay High Court
Stay of Demand and the 20% Recovery Rule: CBDT Instructions and Judicial Reinforcement by the Bombay High Court The power of the Income-tax Department to recover tax demand during the pendency of appellate proceedings is statutorily traceable to section 220 of the Income-tax Act, 1961, which provides that any amount specified as payable in… […]
Can a Partner Claim Presumptive Taxation under Section 44ADA? ITAT Delhi Settles a Long-Running Controversy
Can a Partner Claim Presumptive Taxation under Section 44ADA? ITAT Delhi Settles a Long-Running Controversy Section 44ADA of the Income-tax Act, 1961 was introduced with a simple and taxpayer-friendly objective: to reduce compliance burden for small professionals by offering a presumptive taxation regime. Yet, despite its clear wording, the provision has become a fertile… […]
PF & ESI Late Deposit: Supreme Court Steps In – Big Relief Possible for Taxpayers
PF & ESI Late Deposit: Supreme Court Steps In – Big Relief Possible for Taxpayers The long-running controversy surrounding deduction of employees’ contribution to PF and ESI has once again reached the Supreme Court, bringing renewed hope for thousands of taxpayers facing additions and disallowances across the country. On 27th January 2026, the Supreme… […]
Appointment of Independent Director Beyond Permissible Tenure: ROC Mumbai Imposes Personal Penalty on Company Secretary
Appointment of Independent Director Beyond Permissible Tenure: ROC Mumbai Imposes Personal Penalty on Company Secretary A recent adjudication in the matter of M/s Clean Max Enviro Energy Solutions Ltd. has sent a strong compliance message to companies and professionals alike: voluntary compliance cannot override statutory prohibitions. The Registrar of Companies, Mumbai has imposed penalties not only on… […]
Capital Gains on Transfer of Leasehold Rights: Section 50C Applies Even Without Absolute Ownership
Capital Gains on Transfer of Leasehold Rights: Section 50C Applies Even Without Absolute Ownership One of the most common misconceptions among industrialists and companies holding plots from MIDC or similar authorities is this: “We are only lessees, not owners. So Section 50C should not apply to us.” The Bombay High Court has now firmly… […]
Partial partition amount to a “transfer” under Income Tax law?
Partial partition amount to a “transfer” under Income Tax law? Partial partition doesn’t amount to a “transfer” in law but it can still create tax consequences because of a deeming fiction under the Act. The distinction is subtle but extremely important. 1. Nature of partial partition-still no transfer in substance From a pure legal… […]
Budget Expectations 2026: Between Hope, Hype and Hard Reality
Budget Expectations 2026: Between Hope, Hype and Hard Reality By the time you read this column, the nation will be barely a week away from the annual ritual called the Union Budget. Offices will buzz, WhatsApp groups will explode, TV studios will turn into virtual trading floors of speculation, and every Indian-taxpayer or otherwise-will… […]
Gujarat High Court Clarifies the Law on Reassessment vs Search Assessments: Section 147 Cannot Bypass Section 153C
Gujarat High Court Clarifies the Law on Reassessment vs Search Assessments: Section 147 Cannot Bypass Section 153C The interplay between reassessment provisions under sections 147/148 and search-related provisions under sections 153A and 153C has been a recurring source of litigation. A recent decision of the Hon’ble Gujarat High Court has now brought much-needed clarity by drawing… […]
Limited Scrutiny Means Limited Powers: ITAT Delhi Quashes Section 263 Revision in Harun Ali vs Pr. CIT
Limited Scrutiny Means Limited Powers: ITAT Delhi Quashes Section 263 Revision in Harun Ali vs Pr. CIT A recent decision of the Hon’ble Income Tax Appellate Tribunal, Delhi Bench in Harun Ali vs Principal Commissioner of Income Tax (ITA No. 3444/Del/2025, Assessment Year 2015–16) once again reinforces a crucial but often misunderstood principle of income-tax law: a limited scrutiny assessment… […]
No Addition under Section 69A on Repayment of Loan Already Accepted as Genuine: Key Ruling of ITAT Delhi
No Addition under Section 69A on Repayment of Loan Already Accepted as Genuine: Key Ruling of ITAT Delhi Hon’ble ITAT, Delhi, in the case of M/s Gehna Impex Pvt. Ltd. v. Jt. CIT for A.Y. 2016-17 (ITA No. 4499/Del/2025), wherein has been held that no addition under section 69A can be sustained where the… […]
