What is not taxable under section 5(2) cannot be brought to tax indirectly through a deeming fiction under section 69.
What is not taxable under section 5(2) cannot be brought to tax indirectly through a deeming fiction under section 69. Recently, an ITAT has held that, what is not taxable under section 5(2) cannot be brought to tax indirectly through a deeming fiction under section 69. Facts and action of Assessing Officer Assessee,… […]
Delhi HC upheld Concurrent Jurisdiction of JAO/FAO for issuing notice under section 148
Delhi HC upheld Concurrent Jurisdiction of JAO/FAO for issuing notice under section 148 The Delhi High Court held that the impugned notices issued under Section 148 by the Jurisdictional Assessing Officer (JAO) are not void ab initio, reiterating its consistent view in TKS Builders (P.) Ltd. that both JAO and FAO possess concurrent jurisdiction to… […]
Profit on sale of assets is still taxable even if the block of assets continues to exist?
Profit on sale of assets is still taxable even if the block of assets continues to exist? ITAT Ahmedabad: Suyog Electricals Ltd. v. DCIT, Circle 2(1)(1), Vadodara, ITA No. 1352/Ahd/2025, order dated 25 November 2025 was having an issue as to whether Profit on sale of assets is still taxable even if the block… […]
PF WITHDRAWAL SIMPLIFIED – FROM 13 RULES TO JUST 3
PF Withdrawal Simplified – from 13 Rules to Just 3 EPFO 3.0 Revolution: The Employees’ Provident Fund Organisation (EPFO) is undertaking a landmark digital and administrative overhaul with the imminent launch of EPFO 3.0. This major upgrade aims to redefine how millions of salaried employees access their retirement savings by simplifying the complex system… […]
Applicability of Section 54F When Assessee Holds a Jointly-Owned Residential Property: Legal Analysis, Case Law, and ITAT Delhi Ruling in Kusum Sahgal v. ACIT
Applicability of Section 54F When Assessee Holds a Jointly-Owned Residential Property: Legal Analysis, Case Law, and ITAT Delhi Ruling in Kusum Sahgal v. ACIT Section 54F of the Income-tax Act, 1961 continues to be one of the most litigated provisions in capital gains taxation-especially when a taxpayer owns a fractional share or jointly-owned residential property. A recurring question appears… […]
TCS on Motor Vehicles Above ₹10 Lakh: The Most Misunderstood Provision in Income Tax-And Why Even Second-Hand Dealers, Companies, Firms and Large Individuals Must Comply
TCS on Motor Vehicles Above ₹10 Lakh: The Most Misunderstood Provision in Income Tax-And Why Even Second-Hand Dealers, Companies, Firms and Large Individuals Must Comply If there is one provision that has quietly created massive non-compliance across India, it is Section 206C(1F)-TCS on sale of motor vehicles exceeding ₹10 lakh. Many taxpayers, dealers, and… […]
Selling Inherited Property? Here Are the Top 5 Tax Rules You Must Know
Selling Inherited Property? Here Are the Top 5 Tax Rules You Must Know If there is one topic that quietly sits in a corner for years and then suddenly becomes the hero of family discussions, it is inherited property. The day someone decides to sell it, long-forgotten documents surface, relatives become tax experts, and… […]
Applicability of TDS on interchange fees and payment gateway charges?
Applicability of TDS on interchange fees and payment gateway charges? Tax Deducted at Source (TDS) is generally not applicable to interchange fees, payment gateway charges, or the Merchant Discount Rate (MDR). This position has been clarified by the Central Board of Direct Taxes (CBDT) and upheld by various court rulings. CBDT Clarification and Judicial… […]
ITAT Mumbai Deletes ₹10.84 Cr Addition Against Preity Zinta; Holds Loans Were Genuine, Not Unexplained Cash Credits
ITAT Mumbai Deletes ₹10.84 Cr Addition Against Preity Zinta; Holds Loans Were Genuine, Not Unexplained Cash Credits Preity G Zinta vs ITO (Int. Tax) (ITA No. 4199/MUM/2025) Facts: 1.Assessing Officer (AO) treated the net credits of Rs 10.84 crore as unexplained cash credits under section 68, alleging that the amounts were routed through a… […]
Digital communications or whatsapp Chat cannot by themselves, justify tax additions: ITAT
Digital communications or whatsapp Chat cannot by themselves, justify tax additions: ITAT Recently, Mumbai ITAT in the case of DCIT v. Niru Dhiren Shah (ITA No. 4294/Mum/2025) was concerned with the issue of evidentiary value of WhatsApp Chats in Tax Proceedings. Let us have a Short Overview of the Case: – A search was… […]
