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CA. Ajay Kumar agarwal

FCA

Delhi

[email protected]

Joined: Dec 2025

About Author

Chartered Accountant I 30K+ Followers I Mentor I Public Speaker I Author & Speaker - Direct Tax, FEMA & FDI laws, Merger & Acquisition , Business Restructuring and Search and Seizure matters.

Articles by CA. Ajay Kumar agarwal 77

Whether difference between turnover reflected in CBEC / Service Tax data and turnover recorded in the books of account can, by itself, justify an addition for under-reported revenue without independent enquiry by the Assessing Officer, Deepsons (India) Pvt. Ltd. vs Assistant Commissioner of Income Tax, Circle 7(1), Delhi

27 Jan 2026 | 794 Views

Denial of Deduction u/s 54B – Investment in Agricultural Land in Wife’s Name, Adel Saini vs. Income Tax Officer, Ward-1(1), Faridabad

27 Jan 2026 | 701 Views

Revision u/s 263 – Taxability of Interest on Enhanced Compensation u/s 28 of the Land Acquisition Act, 1894, ITAT Delhi-Shri Jagpal v. Principal Commissioner of Income Tax, Faridabad

27 Jan 2026 | 2027 Views

Capital Gains versus Business Income: Substance of Holding, Intention and Conduct Prevail over Revenue Assumptions- Correct head of income - profit earned by the assessee on sale of land - ‘capital gains’ or ‘business profits’ - Circular No.4/2007 dated 15.06.2007 -a distinction between a "capital asset" and a "trading asset"

27 Jan 2026 | 1335 Views

Revision u/s 264 – PCIT bound to follow ITAT Special Bench: Tax on Deemed STCG u/s 50 at LTCG rate u/s 112, Samir N. Bhojwani. vs. Principal Commissioner of Income Tax & Ors. Writ Petition (L) No. 37709 of 2025

21 Jan 2026 | 739 Views

Nil -Withholding Certificates under Section 197 of the Income-tax Act: Statutory Discipline, Treaty Interpretation and Judicial Control over Revenue Discretion, Nord Anglia Education Limited v. Deputy Commissioner of Income Tax (International Taxation) W.P.(C) 13473/2025

21 Jan 2026 | 617 Views

Political donation and deduction under section 80GGC – reopening, borrowed satisfaction and violation of natural justice, Tushar Vipinchandra Shukla v. ITO, Ward-5(3)(2), Ahmedabad

21 Jan 2026 | 887 Views

ITAT Delhi in Goswami Bhagwan Lal Education Society v ITO (ITA No. 2238/Del/2025, order dated 27.11.2025) holds that non-filing of Form 10B is a curable defect; denial of section 11 exemption and taxation of gross receipts under section 143(1) is impermissible.

16 Jan 2026 | 946 Views

Taxability of Consultancy Income under India–UAE DTAA vis-à-vis Significant Economic Presence (SEP), Article 14, India–UAE DTAA vs Section 9(1)(i): Vijay Mariappan Austin Prakash v ACIT (ITA No. 89/VIZ/2025)

16 Jan 2026 | 1508 Views

ITAT Ranchi Denies Section 80G Recognition for Commercially Outsourced Hospital Trust – Jeevan Rekha Trust v. CIT (Exemption) [ITA Nos. 23 & 24/RAN/2025] | Impact of New Noble Educational Society Ruling

11 Jan 2026 | 898 Views

Reassessment Notice under Section 148 Valid on Third-Party Excel Sheet After 01-04-2021 – Delhi High Court in Veena Arora v. CIT-12, Delhi (W.P.(C) No. 22/2026)

11 Jan 2026 | 1805 Views

Benami Transactions & Demonetisation Cash Routing: Provisional Attachment, “Reasons to Believe” and Independent Satisfaction — M/s Bajrang Traders v. Initiating Officer (SAFEMA Tribunal, 2025)

06 Jan 2026 | 1221 Views

Revision under Section 264 vis-à-vis Appeal under Section 246A: Scope of Discretion, Errors in Return and the Preventive Role of Revisional Jurisdiction — An Analysis of the Bombay High Court decision in Swaminarayan Mandir Trust Versus Commissioner of Income Tax (Exemptions), Mumbai & Ors

06 Jan 2026 | 1810 Views

Sanction for Prosecution under Section 276B Cannot Be Mechanical Where TDS Is Paid with Interest – Karnataka High Court Sets Aside Sanction in M/s GM Infinite Dwelling India Pvt. Ltd. & Ors. VersusThe Commissioner of Income Tax (TDS), Bengaluru & Anr.

05 Jan 2026 | 1220 Views

Allowance of claim of interest expenses - assessee had claimed as business expenses and alternatively, as expenses allowable under the head “Income from House Property” u/s 24(b) - asset was put to use, Rup Kumar Ramchandani Prop. M/s SHE, Ajmer Versus Income Tax Officer, Ward-1 (2) Ajme

29 Dec 2025 | 852 Views

Appeal Maintainable Despite Low Tax Effect Due to Accommodation Entry Exception: Delhi High Court in Pr. CIT-1 v. Agroha Fincap Ltd. (ITA No. 60/2024, 23.12.2025)

29 Dec 2025 | 1180 Views

Delhi HC: Revenue Appeal Maintainable Despite Low Tax Effect Due to Accommodation Entry Exception; Reassessment Quashed for Invalid Section 151 Approval | Pr. CIT-1 v. Agroha Fincap Ltd. (2025)

27 Dec 2025 | 1386 Views

Registration of Legal Heir / Representative Assessee on the Income-tax e-Filing / ITBA Portal Procedure, Documentary Requirements and Indemnity Format

27 Dec 2025 | 4023 Views

TDS Credit Cannot Be Restricted u/s 143(1) When Reflected in Form 26AS: Pune ITAT in ACIT v. Gateway Terminals India Pvt. Ltd. on Section 199 & Rule 37BA

24 Dec 2025 | 2768 Views

Representation regarding mechanical issuance of notices and non-consideration of responses under the Faceless Assessment and Faceless Appeal Schemes

24 Dec 2025 | 944 Views

Overseas Commission to Non-Resident Agents Not Disallowable u/s 37(1): Ahmedabad ITAT in DCIT v. Kewalram Textiles Pvt. Ltd. (AY 2017-18) Relying on CIT v. Toshoku Ltd.

24 Dec 2025 | 903 Views

Non-Compete Fee: Revenue or Capital Expenditure? Supreme Court in Sharp Business System (India) Pvt. Ltd. v. CIT (2025) on Section 37(1), Enduring Benefit Test & Depreciation u/s 32(1)(ii)

24 Dec 2025 | 1234 Views

Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

23 Dec 2025 | 1488 Views

Levy of Late Filing Fee under Section 234E for TDS Statements:

23 Dec 2025 | 2673 Views

Validity of Reopening of Assessment and Addition under Section 69 without Rejection of Books

20 Dec 2025 | 1256 Views

Alleged Bogus Purchases: Deletion vs Remand Depends on Charging Provision — ITAT Delhi Deletes Addition u/s 69, ITAT Pune Orders Remand u/s 37 | KDP Infrastructure Pvt. Ltd. & Taparia Tools Ltd. (2025)

20 Dec 2025 | 1452 Views

Rate of Exchange for Conversion into Rupees of Income Expressed in Foreign Currency, (Rule 115 of the Income-tax Rules, 1962)

17 Dec 2025 | 10347 Views

Disclosed Foreign Investments in Minors’ Names Not Unexplained u/s 69; Foreign Tax Credit Cannot Be Denied for Procedural Lapse in Form 67 – ITAT Delhi

17 Dec 2025 | 1074 Views

“Reasonable Cause” and “Sufficient Cause” under the Income-tax Act, 1961 – Conceptual Distinction, Statutory Application and Judicial Approach

17 Dec 2025 | 2061 Views

Taxability of Ex-gratia / Retrenchment Compensation Paid Under Government-Supported Schemes – Statutory Framework, Judicial Interpretation and Admissibility of New Claim

17 Dec 2025 | 4671 Views

Penalty proceedings u/s 274 r/w section 271(1)(c) - estimation of income - bogus purchases

16 Dec 2025 | 1252 Views

Global Real Estate Transparency and Schedule FA: A New Compliance Reality for Indian Taxpayers

15 Dec 2025 | 933 Views

FOLLOW FOR MORE UPDATES, WORD OF WISDOM, SEMINAR UPDATES, SEBI UPDATES, INCOME TAX LAW, & GST FAQS UPDATES.

13 Dec 2025 | 772 Views

Delhi High Court Upholds PCIT-Only Sanction for High-Value Tax Evasion Prosecution: Collegium Approval Not Required Under CBDT Circulars

12 Dec 2025 | 996 Views

Whether the assessment framed u/s 153A for Assessment Year 2010-11 (pursuant to search action) was barred by limitation, as it fell beyond the permissible extended period of 10 years prescribed under Explanation 1 to Section 153A(1), particularly in light of the binding judgment of the Delhi High Court in Ojjus Medicare Pvt. Ltd

11 Dec 2025 | 825 Views

Deemed Let-Out Property: Contemporary Tax Treatment of Residential, Commercial and Stock-in-Trade Units After the Finance Act, 2024

11 Dec 2025 | 5295 Views

The Dispute Resolution Panel (DRP): Concept, Scope and Appellate Framework under the Income-tax Act, 1961

10 Dec 2025 | 3390 Views

THE MERCANTILE METHOD OF ACCOUNTING & THE ACCRUAL SYSTEM UNDER THE INCOME-TAX ACT, 1961

10 Dec 2025 | 9053 Views

Addition under Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are Rejected and Cash Sales Duly Recorded?

10 Dec 2025 | 2072 Views

CASE STUDY SERIES, Section 45(3), Section 45(4), Section 9B & Rule 8AB – Income-tax Act, 1961** (With conceptual integration through CBDT Circular No. 14/2021)

09 Dec 2025 | 4142 Views

Addition under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of Provisos to Section 68 – Valuation under Section 56(2)(viib)

09 Dec 2025 | 1017 Views

Merger, Demerger and Income-tax Applicability – A Brief Overview

09 Dec 2025 | 6162 Views

Addition under Section 69 read with Section 115BBE – Cash Deposits During Demonetisation – Rate of Tax Prior to 01.04.2017 – ITAT Chandigarh Decision

09 Dec 2025 | 1049 Views

RBI has issued a new notification regarding Reserve Bank of India (Payments Banks – Undertaking of Financial Services) (Amendment) Directions, 2025

08 Dec 2025 | 1175 Views

Foreign Tax Credit under Indian Income-tax Law – Concept and Procedure for Residents and Non-Residents

08 Dec 2025 | 2604 Views

Offences under Sections 276B, 278B and 278E – Delhi High Court Declines Quashing at Pre-Trial Stage

06 Dec 2025 | 1237 Views

Peak Cash Credit – A Fair Method to Determine Unexplained Cash Under the Income-tax Act

06 Dec 2025 | 2786 Views

Concept of Materiality in Audit – Foundation, Purpose, and Practical Application

06 Dec 2025 | 1216 Views

Section 54F – Eligibility and Scope of Disqualification under the Proviso Clarification: Plots and Commercial Properties Do Not Trigger the Proviso

05 Dec 2025 | 1804 Views

Penalty under Section 270A – Whether Penalty Proceedings Can Continue When Quantum Appeal Is Pending Before CIT(A)

05 Dec 2025 | 5259 Views

Addition under Section 56(2)(viib): Validity of DCF Method and Differential Premium — Tribunal Reiterates Binding Effect of Jurisdictional High Court Rulings

05 Dec 2025 | 1720 Views

Deduction u/s 80IAC – Whether Delay in Filing Form 10CCB is Fatal?

04 Dec 2025 | 2083 Views

Concept of Block of Assets under Section 32 of the Income-tax Act, 1961

04 Dec 2025 | 4119 Views

Role of Audit Evidence under SA 500 (Audit Evidence) Issued by ICAI in the Work of a Financial Auditor

04 Dec 2025 | 3025 Views

Taxation of Private Trusts in India: Conceptual Framework, Classification and Emerging Issues

03 Dec 2025 | 4449 Views

TAX-RATE DETERMINATION FOR CHARITABLE TRUSTS NOT CLAIMING SECTION 11 BENEFIT Whether Normal Slab Rates Apply or Maximum Marginal Rate (MMR) as AOP/BOI

03 Dec 2025 | 3438 Views

Who is eligible to claim depreciation in a lease transaction - Whether the lessor (person who hires or leases the asset for a consideration) or the lessee (who hires for business use) ?

03 Dec 2025 | 2715 Views

Addition under Section 50C – Assessment Finalised Without Awaiting DVO Report – Whether Sustainable in Law?

02 Dec 2025 | 1260 Views

APPLICABILITY OF INCOME TAX AND GST ON JOINT DEVELOPMENT AGREEMENT IN REAL ESTATE FOR LANDOWNERS AND BUILDERS

01 Dec 2025 | 8007 Views

Scope of Rectification under Section 254(2) – Whether ITAT Was Right in Modifying Its Earlier Order?

01 Dec 2025 | 1930 Views

Exemption of Income of any University or other Educational Institution Substantially Financed by Government [Section 10(23C)(iiiab)]

30 Nov 2025 | 9991 Views

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).

29 Nov 2025 | 2354 Views

Estimate of value of assets by Valuation Officer [Section 142A]

28 Nov 2025 | 3102 Views

Concept of Diversion of Income by Overriding Title

28 Nov 2025 | 4511 Views

Refusal of Registration under Section 12AA – Whether Educational Activities Constitute Charitable Purpose?

28 Nov 2025 | 1291 Views

Applicability of Section 54F Where Assessee Holds a Jointly-Owned Residential Property

27 Nov 2025 | 5139 Views

Main Features of the Four Labour Codes

27 Nov 2025 | 2341 Views

DTAA Rate vs. Section 206AA – Whether 206AA Overrides a Treaty Rate When Non-Resident Has No PAN

26 Nov 2025 | 2391 Views

Scope of Total Income [Section 5]

24 Nov 2025 | 9535 Views

Validity of Reassessment Notices under Section 148: Whether Jurisdiction Lies with JAO or FAO?

24 Nov 2025 | 4592 Views

Penalty for Non-Disclosure of Foreign Assets

22 Nov 2025 | 1578 Views

Section 145B : Taxability of certain income

22 Nov 2025 | 3801 Views

Addition on Cash Deposited

21 Nov 2025 | 2387 Views

Penalty u/s 271DA – Requirement of Recording Satisfaction for Violation of Section 269ST – ITAT Delhi Dismisses Revenue’s Appeal

20 Nov 2025 | 3533 Views

Time limit for completion of Block Assessment of Search cases [Section 158BE of the Income Tax Act, 1961]

19 Nov 2025 | 4494 Views

Disallowance for marked-to-market loss [Section 40A(13)]

19 Nov 2025 | 2770 Views

Reclassification of Business Loss as Speculation Loss and Its Impact on Penalty Under Section 270A

19 Nov 2025 | 1758 Views