Insights & Resources

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.

Bombay High Court reaffirms that statutory law prevails over CBDT guidelines in compounding offences under income tax legislation.

Rajasthan High Court upholds Section 153C action based on WhatsApp chats corroborated by digital records and cash book evidence.

ITAT rules that failure to transfer liabilities with assets disqualifies a demerger from tax exemption under Section 2(19AA) of the IT Act.

Delhi HC clarifies that cash violations under Section 269ST don't void contracts; unjust enrichment cannot override contractual claims.

SC clarifies whether royalty on minerals is a tax or a fee, reaffirming state powers in a landmark ruling with retrospective effect.

Special Bench of ITAT rules in favour of Mashreq Bank, allowing full PE expense deductions under pre-2008 India–UAE tax treaty.

The Delhi High Court clarifies reassessment timelines, approvals, and JAO powers under the faceless regime post Finance Act, 2021.

SC rules that statutory amendments apply prospectively and cannot extinguish vested tax exemptions granted under unamended law.

Karnataka HC holds that GST recoveries made under coercion during probe cannot qualify as self-ascertained payments under Section 74(5).

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.

Kerala HC holds GST officers cannot seize cash unless it’s stock-in-trade, reaffirming constitutional limits on tax enforcement powers.

Madras HC quashes Section 153C assessments, holding absence of separate satisfaction note renders the proceedings void ab initio.

SC upholds HC’s ruling that s. 153C reassessments must be backed by specific incriminating material for each assessment year.

CBIC orders GST officers to drop appeals over Section 73 interest and penalty if tax is paid, clarifying relief under Section 128A.

Delhi HC quashes reassessment of a non-resident entity, affirming that tax authorities must rely on specific, relevant, and timely evidence.

CBDT clarifies the application of the Principal Purpose Test (PPT) under India's tax treaties to prevent treaty abuse and ensure compliance.

Introduction   In CGST v. Yogesh Gupta [i] , the Court of the Ld. Additional Chief Judicial Magistrate, Gurugram (‘ Ld. Court ’) examined...

CBDT’s latest amendment prescribes conditions for VC Funds & IFSC Finance Companies under Sections 10(23FB) & 94B of the Income-Tax Act.

Delhi HC reinforces adherence to Delhi HC rules reassessment notices issued beyond statutory limitation invalid.