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Concept of Block of Assets under Section 32 of the Income-tax Act, 1961
Concept of
Block of Assets under Section 32 of the Income-tax Act, 1961 The shift from
asset-wise depreciation to the “block of assets” approach marked a significant
evolution in Indian tax depreciation law. ...
Role of Audit Evidence under SA 500 (Audit Evidence) Issued by ICAI in the Work of a Financial Auditor
Role of
Audit Evidence under SA 500 (Audit Evidence) Issued by ICAI in the Work of a
Financial Auditor Audit evidence
lies at the heart of the auditor’s responsibility to express an independent
opinion on fina...
Notices issued under section 148 by JAO post April 1, 2022, valid & legal; Faceless scheme does not mandate faceless issuance
Notices issued under section 148 by JAO post April
1, 2022, valid & legal; Faceless scheme does not mandate faceless issuanceWhile adjudicating the validity of notice issued by
Jurisdictional Assessing Officer (JAO...
Estimation Theory Not Applicable for Entirely Bogus Purchases: Mumbai ITAT Restores Full Addition in DCIT v. Deepak Shah (2025)
Estimation theory inapplicable where entire
purchases are non-genuine; Restores addition Mumbai
ITAT allows Revenue’s appeal and
reverses CIT(A) order and restores addition on account of purchases being
ent...
December 2025 — Monthly event calendar: topics & activity ideas
Event Date
Act
Applicable Form
Obligation
07/12/2025
Income Tax
Challan No. ITNS-281
"Payment of TDS/TC...
Taxation of Private Trusts in India: Conceptual Framework, Classification and Emerging Issues
Taxation of Private Trusts in India: Conceptual Framework,
Classification and Emerging IssuesThe taxation of private trusts in
India is governed primarily by sections 160 to 167 of the Income-tax Act, 1961.
These prov...
TAX-RATE DETERMINATION FOR CHARITABLE TRUSTS NOT CLAIMING SECTION 11 BENEFIT Whether Normal Slab Rates Apply or Maximum Marginal Rate (MMR) as AOP/BOI
TAX-RATE DETERMINATION FOR CHARITABLE
TRUSTS NOT CLAIMING SECTION 11 BENEFIT Whether Normal Slab Rates Apply or
Maximum Marginal Rate (MMR) as AOP/BOICase: Vindhya Trust v. DCIT, ITAT Delhi
(2025)ITA Nos. 2121 &a...
Who is eligible to claim depreciation in a lease transaction - Whether the lessor (person who hires or leases the asset for a consideration) or the lessee (who hires for business use) ?
Who
is eligible to claim depreciation in a lease transaction - Whether the lessor
(person who hires or leases the asset for a consideration) or the lessee (who
hires for business use) ?
As per income tax Act, 1961,...
Section 10(46) Tax Exemption Granted to HSBTE Panchkula: Key Provisions and Compliance Conditions under CBDT Notification 163/2025
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF
DIRECT TAXES)
NOTIFICATION New Delhi, the 26th November, 2025 S.O. 5442(E).—
In exercise of the powers conferred by clause (46) of section 10 of th...
NOTIFICATION No. 11/2025–Central Tax New Delhi, the 27th March, 2025., Amendments to CGST Rules via Notification 11/2025: Key Changes in Rule 164, Appeal Handling under Section 128A, and Critical Compliance Precautions for Professionals
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3,
SUB-SECTION (i)] GOVERNMENT
OF INDIA MINISTRY OF FINANCE (DEPARTMENT&nb...