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CBDT Notifies ITR-B for Search-Related Income Tax Returns: A Step Toward Streamlined Block Assessments
The CBDT has notified Form ITR-B as a new income tax return form specifically for block assessments arising from search and seizure actions. Effective retrospectively from 01.09.2024, the new r. 12AE introduces procedural clarity, a digital filing framework, and enables stricter scrutiny of undisclosed income and tax credit claims. This marks a key shift toward structured compliance in high-stakes search proceedings under ch. XIV-B.
Apr 144 min read
Bombay High Court Reaffirms: CBDT Guidelines Cannot Override Statutory Powers in Tax Compounding Cases
Bombay High Court reaffirms that statutory law prevails over CBDT guidelines in compounding offences under income tax legislation.
Mar 202 min read
Section 153C Validly Invoked on Basis of WhatsApp Chats Corroborated by Evidence: Rajasthan High Court
Rajasthan High Court upholds Section 153C action based on WhatsApp chats corroborated by digital records and cash book evidence.
Mar 204 min read
ITAT: Corporate Restructuring Must Meet All Conditions of Section 2(19AA) to Avoid Capital Gains Tax on Demerger
ITAT rules that failure to transfer liabilities with assets disqualifies a demerger from tax exemption under Section 2(19AA) of the IT Act.
Mar 174 min read
Delhi High Court: Violation of Section 269ST of the Income-tax Act Does Not Render Contract Void or Bar Recovery Claims
Delhi HC clarifies that cash violations under Section 269ST don't void contracts; unjust enrichment cannot override contractual claims.
Mar 14 min read
ITAT Resolves Conflicting Views and Allows Full Deduction of PE Expenses under the Pre-Amended Article 7(3) of the India-UAE DTAA
Special Bench of ITAT rules in favour of Mashreq Bank, allowing full PE expense deductions under pre-2008 India–UAE tax treaty.
Feb 286 min read
From the Finance Act, 2021 to the Decisions in Ashish Agarwal & Rajeev Bansal: Delhi HC Clarifies Key Aspects of Reassessment under the Income-tax Act
The Delhi High Court clarifies reassessment timelines, approvals, and JAO powers under the faceless regime post Finance Act, 2021.
Feb 276 min read
Retrospective Relief: ITAT Allows TCS Credit to Assessee for Minor’s Clubbed Income Under Section 64(1A)
ITAT rules that TCS credit on a minor’s income, clubbed under Section 64(1A), must be granted to the parent, even before 01.01.2025.
Feb 204 min read
Kerala High Court: GST Officers Cannot Seize Cash Unless It Is Stock-in-Trade
Kerala HC holds GST officers cannot seize cash unless it’s stock-in-trade, reaffirming constitutional limits on tax enforcement powers.
Feb 194 min read
[Madras HC] Proceedings Under Section 153C Declared Void Ab Initio for Lack of Separate Satisfaction Note
Madras HC quashes Section 153C assessments, holding absence of separate satisfaction note renders the proceedings void ab initio.
Feb 183 min read
Supreme Court: Affirms Limits on Section 153C Reassessment Powers under the Income-tax Act
SC upholds HC’s ruling that s. 153C reassessments must be backed by specific incriminating material for each assessment year.
Feb 153 min read
Delhi High Court Quashes Reassessment Notices for Non-Resident Entities
Delhi HC quashes reassessment of a non-resident entity, affirming that tax authorities must rely on specific, relevant, and timely evidence.
Feb 43 min read
CBDT Notifies Income-Tax (Second Amendment) Rules, 2025: Key Changes for VC Funds & IFSC Finance Companies
CBDT’s latest amendment prescribes conditions for VC Funds & IFSC Finance Companies under Sections 10(23FB) & 94B of the Income-Tax Act.
Feb 13 min read
Delhi High Court Reinforces Statutory Limitation in Tax Reassessment Proceedings
Delhi HC reinforces adherence to Delhi HC rules reassessment notices issued beyond statutory limitation invalid.
Jan 313 min read
ITAT Quashes Reassessment Notice for Lack of Fresh Tangible Material and Independent Inquiry
In Minal Shroff v. ITO, the ITAT quashed a reassessment under Section 147 for relying solely on third-party alerts, without any fresh inquiry or tangible material. This case reaffirms critical safeguards for taxpayers and clarifies that the ‘reason to believe’ must be the AO’s own, not borrowed.
Jan 276 min read
MFN Clause Not Self-Executing: Supreme Court Reiterates the Requirement of Notification for the MFN Clause in DTAAs to Apply
The Supreme Court rules that the MFN clause in DTAAs is not automatic and requires government notification under the Income-tax Act, 1961.
Jan 255 min read
Orissa HC Upholds Assessee’s Right to Compounding for TDS Default under Section 276B of the Income-tax Act,1961
Orissa HC rules that assessees facing TDS prosecution under s. 276B can seek compounding under s. 320 CrPC per CBDT Circular guidelines.
Jan 253 min read
Supreme Court Clarifies Share Capital Reduction as a ‘Transfer’ Under the Income Tax Act
The Supreme Court rules that share capital reduction qualifies as a ‘transfer’ under tax law, impacting capital gains taxation.
Jan 185 min read
Bombay High Court Quashes Reassessment Proceedings Due to Lack of New Evidence
The Bombay High Court quashes reassessment proceedings, highlighting that reopening assessments without fresh evidence is unlawful.
Jan 25 min read
Judicial Interpretation of Long-Term Capital Gain Exemption and MAT Computation under IT Act
This case clarifies the interplay between LTCG exemptions under Section 10(38) and MAT computations under Section 115JB of the IT Act.
Jan 1, 20253 min read