Tax Compliance Made Easier: Capital Gains Accounts Now Digital
Tax Compliance Made Easier: Capital Gains Accounts Now Digital Introduction: The CBDT vide Notification No. 161/2025 dated November 19, 2025 has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025, introducing significant digital-enablement reforms to the Capital Gains Accounts Scheme (CGAS), 1988. The amendments have been issued under various provisions of section 54 and… […]
When Scholarships Become Business Expenditure: What Harish Salve’s Case Teaches About Modern Brand-Building Under Income Tax Law
When Scholarships Become Business Expenditure: What Harish Salve’s Case Teaches About Modern Brand-Building Under Income Tax Law Can paying Oxford University fees for two students ever become a tax-deductible business expense? In the fascinating case of Harish Narinder Salve vs ACIT (ITAT Delhi), the Tribunal said yes-and in doing so, widened the contours of what “business expenditure”… […]
Can New Grounds Be Taken before ITAT without it being there before CIT (Appeal)?
Can New Grounds Be Taken before ITAT without it being there before CIT (Appeal)? One of the most common doubts among taxpayers and professionals is whether new grounds can be raised for the first time before the Income Tax Appellate Tribunal (ITAT), even if they were never argued before the CIT(A). The short answer is YES, and… […]
Can a Partner Claim Expenses Against Remuneration? Delhi ITAT Gives a Landmark Clarification
Can a Partner Claim Expenses Against Remuneration? Delhi ITAT Gives a Landmark Clarification A recent decision of the Delhi ITAT has sparked widespread interest among professionals and business partners across India. The question was simple but extremely important: Can a partner in a partnership firm claim expenses such as travel, telephone, fuel, car depreciation and… […]
Your ITR vs Your Data: Why Many Taxpayers Got 143(2) Scrutiny Notices This Year
Your ITR vs Your Data: Why Many Taxpayers Got 143(2) Scrutiny Notices This Year If your email inbox suddenly looks more active than your bank account, don’t worry-you’re not alone. The country is experiencing a full-fledged Section 143(2) Storm for AY 2024-25. Across India, taxpayers are asking the same question: “Why me?” And interestingly,… […]
Can ITC Be Availed on Imports Made Through Courier?
Can ITC Be Availed on Imports Made Through Courier? Let us take a look at how this old Central Excise controversy has evolved under GST In the Central Excise regime, a persistent dispute existed around availing CENVAT credit on goods imported through courier. When small consignments were brought in under the Courier Imports &… […]
ITC cannot be rejected merely on the ground that the supplier’s GST registration was cancelled with retrospective effect.
ITC cannot be rejected merely on the ground that the supplier’s GST registration was cancelled with retrospective effect. In The case of Engineering Tools Corporation v. the Assistant Commissioner (ST), the Madras High Court (‘High Court’) held that an Input Tax Credit (‘ITC’) claim cannot be rejected merely on the ground that the supplier’s… […]
Non-disclosure of required details in audit report: ROC penalized auditor
Non-disclosure of required details in audit report: ROC penalized auditor ROC penalized Deloitte Haskins & Sells, Statutory Auditor of the Company, for failing to provide any adverse remarks / qualifications in its report, as required u/s 143 of the Companies Act, 2013. However, there are significant compliance issues, namely: – Non-disclosure of MSME interest details…. […]
CA issuance of Form No. 15CB under the Income-Tax Act does not amount to abetment of money laundering.
CA issuance of Form No. 15CB under the Income-Tax Act does not amount to abetment of money laundering. Supreme Court has recently protected a Practicing Chartered Accountant. I that merely issuing Form 15CB under the Income-Tax Act does not amount to abetment of money laundering. In this case, a Chartered Accountant had issued Form… […]
Penny Stock Addition: Genuineness must be tested on human probabilities and surrounding circumstances, not mere documentation- ITAT Ahemedabad
Penny Stock Addition: Genuineness must be tested on human probabilities and surrounding circumstances, not mere documentation- ITAT Ahemedabad ITAT Ahmedabad in the case of Gitaben Dineshbhai Patel v. ITO-ITA No. 717/Ahd/2025 | Order dated: 4 November 2025 on penny stock matter has held that genuineness must be tested on human probabilities and surrounding circumstances,… […]
