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Section 54F – Eligibility and Scope of Disqualification under the Proviso Clarification: Plots and Commercial Properties Do Not Trigger the Proviso
Section 54F
– Eligibility and Scope of Disqualification under the ProvisoClarification:
Plots and Commercial Properties Do Not Trigger the Proviso Section 54F of
the Income-tax Act, 1961 grants exemption from l...
Penalty under Section 270A – Whether Penalty Proceedings Can Continue When Quantum Appeal Is Pending Before CIT(A)
Penalty
under Section 270A – Whether Penalty Proceedings Can Continue When Quantum
Appeal Is Pending Before CIT(A) The
introduction of Section 270A by the Finance Act 2016 marked a shift from
the traditional r...
Addition under Section 56(2)(viib): Validity of DCF Method and Differential Premium — Tribunal Reiterates Binding Effect of Jurisdictional High Court Rulings
Addition under
Section 56(2)(viib): Validity of DCF Method and Differential Premium — Tribunal
Reiterates Binding Effect of Jurisdictional High Court Rulings ITAT Delhi:
Intermesh Shopping Network Pvt. Ltd. vs....
Deduction u/s 80IAC – Whether Delay in Filing Form 10CCB is Fatal?
Deduction
u/s 80IAC – Whether Delay in Filing Form 10CCB is Fatal? Scope of
Amendment to Section 80IA(7) – ITAT Delhi :FIVD India
Consulting Pvt. Ltd. v. DCIT, Circle 1(1), GurgaonITA No.
3877/Del/2025 | Ord...
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...