CBDT Notifies HUDCO Bonds as Long-Term Specified Asset u/s 54EC for FY 2025-26…
CBDT Notifies HUDCO Bonds as Long-Term Specified Asset u/s 54EC for FY 2025-26… The copy of the Notification is as under: The post CBDT Notifies HUDCO Bonds as Long-Term Specified Asset u/s 54EC for FY 2025-26… appeared first on The Tax Talk.
Income tax dept notifies form ITR-B for taxpayers on whom search, or requisition operation has been initiated
Income tax dept notifies form ITR-B for taxpayers on whom search, or requisition operation has been initiated The Ministry of Finance has notified form ITR-B for FY 2025-26 (AY 2026-27) through a gazetted notification on April 7, 2025. The form ITR-B is needed to be filed by those taxpayers who have to disclose any… […]
Deduction towards contingent liability allowed by AO: No revision U/s 163 permissible if AO had conducted proper inquiry and verification – ITAT Mumbai
Deduction towards contingent liability allowed by AO: No revision U/s 163 permissible if AO had conducted proper inquiry and verification – ITAT Mumbai Mumbai Tribunal in the case of National Stock Exchange of India Ltd (ITA No 642/Mum/2020) hashled that the AO had conducted proper inquiry and verification while allowing the claim of the… […]
Assessing Officer refuses to even issue the summons under section 131(1) – ITAT deleted addition
Assessing Officer refuses to even issue the summons under section 131(1) – ITAT deleted addition Here is one interesting judgement by ITAT, Delhi Bench holding that, in case where the transactions are supported by relevant documents, when the assessee is a regular investor and when the Assessing Officer refuses to even issue the summons… […]
Redeveloped Flat received from builder is not a “Gift” under section 56(2)(x): Mumbai ITAT
Redeveloped Flat received from builder is not a “Gift” under section 56(2)(x): Mumbai ITAT During the redevelopment process, normally the flat owner offers his own existing flat to the builder who rebuilds it and allocate the higher area flat to the existing owner. The question arises as to whether the difference between the stamp… […]
Bombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute!
Bombay High Court Grants Interim Relief to Hindustan Coca-Cola in ₹2,500 Cr GST Dispute! In a significant development, the Bombay High Court has granted ad-interim relief to Hindustan Coca-Cola Beverages Pvt. Ltd. against a massive ₹2,500 crore GST demand issued on grounds of alleged undervaluation due to retrospective discounts given to distributors. Let us… […]
ITC cannot deny ITC even if the supplier registration cancelled from retrospective date.
ITC cannot deny ITC even if the supplier registration cancelled from retrospective date. The Hon’ble High court in its recent judgement in the case of M/S Solvi Enterprises vs Additional Commissioner Grade 2 And … on 24 March, 2025(1287/2025), has held that ITC cannot deny ITC even if the supplier registration cancelled from retrospective date. In… […]
Section 153D: Approval must be self-contained piece of evidence demonstrating that due process of law is followed in approving
Section 153D: Approval must be self-contained piece of evidence demonstrating that due process of law is followed in approving The Hon’ble Tribunal held that Section 254(1) of the Act and Rule 11 of the ITAT Rules make it clear that the Tribunal is competent to consider any ground or issue not taken by either… […]
Know about the changes in the New Tax Audit Report in Form No. 3CD
Know about the changes in the New Tax Audit Report in Form No. 3CD 1. Introduction of Clause 36B for Buyback Receipts – Disclosure of the buyback receipts of shares under section 2(22)(f) has to be reported along with the following details: (a) Amount received for buyback of shares (b) Cost of acquisition of… […]
Updated Returns: A Second Chance That Costs Extra (But Saves You More)
Updated Returns: A Second Chance That Costs Extra (But Saves You More) Missed declaring some income? Skipped filing a return altogether? The tax department is giving you a second shot to set things right—but you’ll need to pay for the privilege. Here’s everything you need to know about the Updated Return scheme and how… […]
