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Ad Hoc 10% Disallowance of Travelling & Telephone Expenses Deleted: No Discrepancies in Audited Books – Spectrum Talent Management v. ACIT (ITAT Delhi, 2025)
The assessee-firm, engaged in providing staffing solutions and operating in the services sector, claimed travelling and telephone expenses under Section 37(1) for the relevant assessment year. The Assessing Officer obser...
Supreme Court mandates strict timelines for oral arguments, issues Circular
Supreme Court mandates strict
timelines for oral arguments, issues Circular
To facilitate speedy and proper
administration of justice, Supreme Court issues Circular mandating arguing
Counsels to submit ‘timelines...
No Penalty on Wife for Non-Disclosure of Joint Foreign Investment When Husband Declares in ITR: PCIT v. Aditi Avinash Athavankar (Bom. HC, 2025)
For Assessment Year 2017-18, the allegation against the respondent-assessee (wife) pertained to non-disclosure of a foreign investment in Schedule FA of her income tax return. The material on record indicated that her na...
Judicial Review as the Sole Remedy Against AAAR Orders Under GST: Constitutional Recourse, Limits of Appeal & Key Case Law Analysis
REMEDY AGAINST ORDERS OF APPELLATE
AUTHORITY FOR ADVANCE RULING (AAAR) UNDER GST Brief Background and HistoryIn 1993, post the opening of the Indian economy in 1991,
India introduced the scheme of advance rulings ...
Fictitious Firms, Fake Invoicing & Fraudulent ITC under GST: Modus Operandi, Legal Exposure and Enforcement Framework
Fictitious
firms under GST: Busting the Racket IntroductionNearing half a decade since its inception, this flawed
yet functional indirect tax, GST, has become a matter of the moment in the world
of tax profession...
Prosecution under Section 276C(2) Quashed for Delayed Self-Assessment Tax: No Willful Evasion Established – Vilas Babanrao Kalokhe v. PCIT (Central) [2025]
The assessee, engaged in stone crushing and manufacturing of precast cement pipes, filed the return of income for AY 2022-23 on 05.11.2022. The self-assessment tax payable under Section 140A was not discharged along with...
No Penalty for Non-Disclosure of Joint Foreign Investment When Husband Declared It: PCIT v. Aditi Avinash Athavankar (2025) – Discretion under Black Money Act Upheld
No penalty on wife for not disclosing foreign investment if husband duly declared it in his ITR
For assessment year 2017-2018, the allegation against the respondent–assessee (wife) was non-disclosure of a foreign inve...
ICAI Extends Phase IV Peer Review Mandate to 31 December 2026 for Eligible CA Firms
Peer Review Board
The Institute of Chartered Accountants of India
31st December, 2025ANNOUNCEMENTDeferment of Phase IV of Peer Review MandateThe Council of the ICAI has decided that Phase IV of the Peer Review mandate,...
Reassessment Limitation under New Regime: Allahabad High Court in Dinesh Jain v. Union of India Applies Rajeev Bansal (SC) to Quash Time-Barred AY 2016-17 Notice
CA. Atul Agrawal, Former Vice Chairman CIRC
31/12/2025
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| VISITOR'S COUNT: 350
Reassessment Limitation under the New Regime: Hon’ble Allahabad High Court’s First Pronouncement on the issueIn Dinesh Jain v. Union of India, the Hon’ble Division Bench of the Allahabad High Court has examined the...
Compliance Templates & Checklist for Section 194T – TDS on Payments to Partners
CA. Atul Agrawal, Former Vice Chairman CIRC
31/12/2025
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| VISITOR'S COUNT: 330
I am writing to share a set of compliance requirement and a detailed checklist that have been compiled to assist in implementing the obligations under Section 194T of the Income‑tax Act, 1961 (payments by partnership f...