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Supreme Court Confirms Deletion of Section 271D Penalty Where No Recorded Satisfaction in Assessment Order
The Supreme Court of India in PCIT vs Parivar Television Pvt. Ltd. has dismissed the Revenue’s Special Leave Petition and upheld the deletion of the penalty imposed under Section 271D of the Income-tax Act, 1961, on th...
CBDT Takes Enforcement Action Against Intermediaries Facilitating Bogus Deduction Claims in Income-tax Returns
CBDT NUDGEs taxpayers against the claims of bogus deductions through data-driven approachAfter a massive nationwide operation, the Central Board of
Direct Taxes (CBDT) has acted against several intermediaries involved i...
Delhi High Court to Decide Whether Sports Associations’ Activities Are Charitable or Commercial for Exemption under Sections 11 and 12
The Delhi High Court has admitted the Revenue’s appeal against the order passed by the Income Tax Appellate Tribunal (ITAT) in the case of Delhi and District Cricket Association. The appeal has been admitted as other c...
Undisclosed Bitcoin Income Taxable Under Black Money Act; Addition for Foreign Assets Deleted Due to Wrong Assessment Year — Pune ITAT, Shaista Suhel Patanwala v. ADIT(Inv.), Pune [TS-1626-ITAT-2025(PUN)]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) partly allowed the assessee’s appeal by deleting the addition made towards undisclosed foreign assets to the extent of ₹86.80 lakhs, while simultaneously uph...
CBDT NUDGES Taxpayers Against Bogus Donation Claims Through Data-Driven Detection Drive
Ministry of FinanceCBDT NUDGEs taxpayers against the claims of bogus deductions through data-driven approachFake donations claims to political parties and trusts Under Tax ScannerMany taxpayers revise returns after CBDT ...
Bombay High Court Quashes Backdated Section 154 Rectification Order Passed Without DIN – Siemens Ltd. v. DCIT (2025)
In a significant ruling, the Bombay High Court has quashed a backdated rectification order passed under Section 154 of the Income-tax Act on the ground that it was issued manually without quoting a Document Identificatio...
ICAI – Important Professional Update Migration of UDIN Portal to ICAI DigiCA Platform
ICAI – Important Professional Update
Migration of UDIN Portal to ICAI DigiCA PlatformMembers are hereby informed that the Institute of Chartered
Accountants of India (ICAI) is in the process of migrating the existing...
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Karol Bagh CPE Study
Circle of NIRC of ICAI Seminar will be held at 5:00 PM on Monday, 15th D...
New Income Tax Return (ITR) Forms under Income-tax Act, 2025 – Lok Sabha Clarification on Timeline and Simplification
The Income-tax Return (ITR) forms
pertaining to the first tax year 2026–27 shall be notified prior to Financial
Year 2027–28, since the ITR forms relating to the Income-tax Act, 2025 would
require consequent...
Commissioner must follow binding jurisdictional HC precedent despite SC pendency; sec. 264 revision allowed: HC, Shangri-La International Hotel Management Pte. Ltd. vs. Commissioner of Income-tax (International Tax) - [2025] (Delhi)
Commissioner must follow binding jurisdictional High Court precedent despite pendency before Supreme Court; revision under section 264 allowableShangri-La International Hotel Management Pte. Ltd. v. Commissioner of Incom...