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Whether the assessment framed u/s 153A for Assessment Year 2010-11 (pursuant to search action) was barred by limitation, as it fell beyond the permissible extended period of 10 years prescribed under Explanation 1 to Section 153A(1), particularly in light of the binding judgment of the Delhi High Court in Ojjus Medicare Pvt. Ltd
Whether the
assessment framed u/s 153A for Assessment Year 2010-11 (pursuant to search
action) was barred by limitation, as it fell beyond the permissible extended
period of 10 years prescribed under Explanation 1 to ...
Deemed Let-Out Property: Contemporary Tax Treatment of Residential, Commercial and Stock-in-Trade Units After the Finance Act, 2024
Deemed Let-Out
Property: Contemporary Tax Treatment of Residential, Commercial and
Stock-in-Trade Units After the Finance Act, 2024 A central
feature of the scheme of taxation under the head “Income from House ...
The Dispute Resolution Panel (DRP): Concept, Scope and Appellate Framework under the Income-tax Act, 1961
The Dispute
Resolution Panel (DRP): Concept, Scope and Appellate Framework under the
Income-tax Act, 1961 1. IntroductionThe Dispute
Resolution Panel (DRP) is one of the most significant innovations introduced in...
THE MERCANTILE METHOD OF ACCOUNTING & THE ACCRUAL SYSTEM UNDER THE INCOME-TAX ACT, 1961
THE MERCANTILE
METHOD OF ACCOUNTING & THE ACCRUAL SYSTEM UNDER THE INCOME-TAX ACT, 1961
1. IntroductionThe method of
accounting adopted by an assessee forms the very foundation upon which taxable
income is comp...
Addition under Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are Rejected and Cash Sales Duly Recorded?
Addition under
Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are
Rejected and Cash Sales Duly Recorded? ITAT Mumbai –
Rakesh Jain v. DCIT (2025)ITA No.
546/Mum/2025 │ Order date...
CASE STUDY SERIES, Section 45(3), Section 45(4), Section 9B & Rule 8AB – Income-tax Act, 1961** (With conceptual integration through CBDT Circular No. 14/2021)
CASE STUDY
SERIES Section 45(3),
Section 45(4), Section 9B & Rule 8AB – Income-tax Act, 1961**(With
conceptual integration through CBDT Circular No. 14/2021) I. Conceptual
Framework1. Section
45(3) ...
Addition under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of Provisos to Section 68 – Valuation under Section 56(2)(viib)
Addition
under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of
Provisos to Section 68 – Valuation under Section 56(2)(viib)
Madras High
Court – PCIT, Central–1, Chennai v. Lalith...
Information Systems Audit – Assessment Test (ISA – AT), 7th February 2026
The
next ISA-AT (under Syllabus 3.0) will be held on 7 February 2026
(Saturday), 9:00 AM – 1:00 PM (IST).
The
exam will be conducted in Computer Based Test (CBT) mode only.
It
is open onl...
Applicability of the Income-tax Act, 2025 from May 2027 CA Exams Onwards
What the Announcement Says (from Institute of Chartered
Accountants of India — BOS)
The
Income-tax Act, 2025 has received Presidential assent on 21 August 2025.
The
Act will come into force from 1 Apr...
Merger, Demerger and Income-tax Applicability – A Brief Overview
Merger,
Demerger and Income-tax Applicability – A Brief Overview 1. Concept of
Merger (Amalgamation)In income-tax
law, a merger is treated as an “amalgamation” as defined in section 2(1B) of
the Income-tax...