Garg Garg & Associates

10% Deposit for Stay of Demand in Budget 2026 – Full Analysis, Applicability & Strategy

raghav — Thu, 16 Apr 2026 21:05:37 +0000

10% Deposit for Stay of Demand in Budget 2026 – Full Analysis, Applicability & Strategy Budget 2026 proposes reducing stay of demand deposit from 20% to 10% under Section 220(6). Is 10% deposit mandatory for income tax stay? Understand Budget 2026 changes, applicability, retrospective impact, and expert strategy for handling tax demand cases. …

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Section 221 Penalty: When Delay in Tax Payment Becomes Costly

raghav — Thu, 16 Apr 2026 21:05:37 +0000

Section 221 Penalty: When Delay in Tax Payment Becomes Costly In the complex world of income tax compliance, one of the most frequently misunderstood provisions is Section 221 of the Income Tax Act, 1961. Many taxpayers assume that once a demand is raised, delay in payment will only attract interest. However, the law goes…

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Unsigned ‘Dumb Document’ Not Incriminating Material – 153C Proceedings Quashed

raghav — Thu, 16 Apr 2026 21:05:37 +0000

Unsigned ‘Dumb Document’ Not Incriminating Material – 153C Proceedings Quashed In a significant ruling that strengthens taxpayer protection against mechanical invocation of search provisions, the ITAT Hyderabad has held that proceedings under Section 153C cannot be initiated merely on the basis of an unsigned agreement of sale seized from a third party. The decision reiterates…

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When 3 Days Delay Travels to ITAT: The Curious Case of Casual Dismissals by CIT(A)

raghav — Wed, 15 Apr 2026 20:49:26 +0000

When 3 Days Delay Travels to ITAT: The Curious Case of Casual Dismissals by CIT(A) In the world of taxation, we often deal with crores, complex interpretations, and high-stakes litigation. But sometimes, the system throws up situations so ironic that they almost read like satire. Imagine this: An assessee files an appeal with a delay of…

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Is Section 292BC the Final Nail in the Coffin for Technical Challenges to Assessments?

raghav — Wed, 15 Apr 2026 20:49:26 +0000

Is Section 292BC the Final Nail in the Coffin for Technical Challenges to Assessments? The tax litigation landscape in India has always witnessed a fascinating tug of war between substance and procedure. For years, taxpayers have successfully challenged assessments on technical grounds—especially where statutory approvals were found to be mechanical, hurried, or inadequately reasoned. Enter…

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Budget 2026 received President Assent: Key Personal Tax Changes Every Investor Must Act On

raghav — Tue, 14 Apr 2026 20:46:59 +0000

Budget 2026 received President Assent: Key Personal Tax Changes Every Investor Must Act On The Finance Bill 2026 has now received Presidential assent, and what were earlier “proposals” are now enforceable provisions of law. While the Budget did not tinker much with tax slabs, it has introduced several structural changes that directly impact…

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Agricultural Income in New Income-tax Act, 2025: Tax-Free, But Not Trouble-Free Anymore (Part–4)

raghav — Mon, 13 Apr 2026 20:40:12 +0000

Agricultural Income in New Income-tax Act, 2025: Tax-Free, But Not Trouble-Free Anymore (Part–4) This article forms Part–4 of my ongoing series on the New Income-tax Act, 2025, where in the last three weeks we have examined various structural and procedural changes introduced in the new law. While many of those changes were more in the nature…

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Gujarat High Court pulls up CBDT for 11 years of non-compliance with Court directions on timely release of ITR forms & utilities.

raghav — Fri, 10 Apr 2026 20:03:47 +0000

Gujarat High Court pulls up CBDT for 11 years of non-compliance with Court directions on timely release of ITR forms & utilities.

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Section 44AD vs 44ADA: Can Wrong TDS u/s 194J Turn Business Income into Professional Income? A Growing Litigation Issue

raghav — Thu, 09 Apr 2026 19:53:05 +0000

Section 44AD vs 44ADA: Can Wrong TDS u/s 194J Turn Business Income into Professional Income? A Growing Litigation Issue A new and increasingly common controversy is emerging in income tax assessments—Assessing Officers are treating income as “professional income” merely because TDS was deducted under Section 194J, and forcing taxpayers into Section 44ADA instead of Section…

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Section 68 Cannot Tax Recorded Sales Again | ITAT Mumbai Rules Against Double Taxation of Turnover

raghav — Thu, 09 Apr 2026 19:53:05 +0000

Section 68 Cannot Tax Recorded Sales Again | ITAT Mumbai Rules Against Double Taxation of Turnover In a significant ruling with wide practical implications, the ITAT Mumbai has clarified that sales already recorded as turnover cannot be taxed again under Section 68 as unexplained cash credit, especially when books of account are not rejected under Section…

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