Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Addition under Section 50C – Assessment Finalised Without Awaiting DVO Report – Whether Sustainable in Law?
Section 50C Addition Finalised
Without Awaiting DVO Report – Legality ExaminedRajni Arvind Birla v. ITO,
Ward-3(1)(1), Ahmedabad
ITAT Ahmedabad | ITA No. 930/Ahd/2025 | Order dated 28.11.20251. Core ControversyThe T...
Revision of Tax Audit Report – A Comprehensive Professional Analysis
Revision of Tax Audit Report – A
Comprehensive Professional Analysis 1. General PrincipleA Tax Audit Report, once issued,
is ordinarily not intended to be revised. The very nature of an audit report
demands fin...
SMALL COMPANY COMPLIANCE CHECKLIST
SMALL COMPANY COMPLIANCE CHECKLIST
(Applicable from FY 2025–26 as per revised thresholds w.e.f. 01-12-2025)
Eligibility: Paid-up Capital ≤ ₹10 Crore AND Turnover ≤ ₹100 Crore
Annual Eligibility Verification...
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS
APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT
AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS
Introduction
In the real estate sector, Joint Development Agreements
(JDAs) are a common arrangement betw...
Scope of Rectification under Section 254(2) – Whether ITAT Was Right in Modifying Its Earlier Order?
Scope of Rectification under
Section 254(2) – Whether ITAT Was Right in Modifying Its Earlier Order? M/s Devaraj & Others v. ITO,
Coimbatore:-Madras High Court | TCA Nos. 319/2016 & 538/2021 | Judgment
...
Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)]
Exemption
of Income of any University or other Educational Institution Substantially
Financed by Government [Section 10(23C)(iiiab)] The provisions of section 10(23C)(iiiab) grant exemption
of income earned by an...
Book profit on sale of a motor vehicle forming part of a continuing depreciable block cannot be taxed separately once the full sale consideration is reduced under Section 43(6)(c).
ITAT Ahmedabad: Suyog Electricals Ltd. v. DCIT, Circle
2(1)(1), Vadodara, ITA No. 1352/Ahd/2025, order dated 25 November 2025.Core Issue: Whether an addition of Rs. 4,83,894, being the
book profit on sale of a motor ve...
Severance compensation constitutes ‘profits in lieu of salary’, not capital receipts, under amended Section 17(3)(iii)
Severance compensation constitutes ‘profits in lieu of salary’, not capital receipts, under amended Section 17(3)(iii)Hyderabad ITAT holds that the severance compensation of Rs. 26,97,912/- received by the Assessee i...
Supreme Court : Upholds High Court’s view that emails to GST Practitioner constitute valid service
Supreme Court : Upholds High Court’s view that emails to GST Practitioner constitute valid serviceSupreme Court dismisses Assessee’s SLP challenging the Delhi High Court’s judgement which had upheld the validity of...
Estimate of value of assets by Valuation Officer [Section 142A]
Estimate of value of assets by Valuation Officer [Section
142A]Section 142A of the Income Tax Act, 1961 was initially
inserted by the Finance (No. 2) Act, 2004, with retrospective effect from
15.11.1972. It was amende...