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Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. – Levy of Interest under Section 234B on Interest Received from Enhanced Land Acquisition Compensation
Facts of the CaseThe lands belonging to the assessees were acquired by the
Government of Haryana under the Land Acquisition Act, 1894. Dissatisfied with
the original compensation awarded, the assessees sought enhanceme...
Commissioner of Income Tax-IV, New Delhi vs Insilco Limited (2009) – Deductibility of Long Service Award Provision and Depreciation on Emergency/Insurance Spares under Sections 32 & 145 of the Income Tax Act
Facts of the CaseThe assessee, Insilco Limited, was engaged in the business
of manufacturing spray dried silica in technical collaboration with a German
company.The assessee had introduced a Long Service Award Scheme
...
Legal Position of Unabsorbed Depreciation under the Income Tax Act, 2025 – A Paradigm Shift in Indian Tax Law?
Legal Position of Unabsorbed
Depreciation under the Income Tax Act, 2025 – A Paradigm Shift in Indian Tax
Law?
IntroductionThe treatment of unabsorbed
depreciation has historically been one of the most taxpayer-f...
CBDT Notifies Mandatory Scrutiny Cases for FY 2026-27: Key Categories Every Taxpayer and Professional Should Know
CBDT Notifies Mandatory
Scrutiny Cases for FY 2026-27: Key Categories Every Taxpayer and Professional
Should KnowThe Central Board of Direct Taxes
(CBDT), vide Circular No. F.No.225/56/2026/ITA-II, has prescribed the
...
Income-tax (Amendment) Ordinance, 2026: Major Tax Relief for Foreign Investors in Indian Government Securities
Income-tax (Amendment) Ordinance, 2026: Major Tax Relief
for Foreign Investors in Indian Government SecuritiesIntroductionIn a significant move aimed at enhancing India's
attractiveness as a global investment destinati...
Wealth Creation Through Business Expansion: Government Schemes, Professional Opportunities & Growth Strategies for Sustainable Success in India
Wealth Creation Through Business
Expansion
THE STRATEGIC ROLE OF
PROFESSIONALS, TECHNOLOGY, AND GOVERNMENT INCENTIVES
Executive Summary: Wealth creation is one of ...
Due Diligence Before Investing: The Definitive Playbook for Smart Capital Allocation
Due
Diligence Before Investing: The Definitive Playbook for Smart Capital
Allocation
IntroductionInvesting is
one of the most effective methods of creating long-term wealth and achieving
financial independence. Ho...
Artificial Intelligence in Chartered Accountancy Practice: Essential Tools for Enhancing Efficiency, Compliance, and Practice Management
Artificial Intelligence in Chartered Accountancy Practice: Essential Tools for Enhancing Efficiency, Compliance, and Practice ManagementIntroductionThe Chartered Accountancy profession has always evolved in response to c...
आयकर रिटर्न दाखिल करते समय बरतें विशेष सावधानी : छोटी गलतियाँ बन सकती हैं टैक्स डिमांड, ब्याज एवं नोटिस का कारण Income Tax Return Filing: Minor Mistakes May Result in Tax Demands, Interest Charges, and Scrutiny Notices – Exercise Due Care
आयकर रिटर्न दाखिल करते समय बरतें विशेष सावधानी : छोटी गलतियाँ बन सकती हैं टैक्स डिमा...
Commissioner of Income Tax vs. Morgan Securities and Credits Pvt. Ltd. & Autometers Ltd. (In re: ITA No. 195/2009) – Applicability of Section 145 and Binding Nature of Division Bench Precedents on Revenue Assessment
Facts of the CaseThe Appellant Revenue (Income Tax Department) preferred a
statutory tax appeal docketed as ITA No. 195/2009 along with a
procedural application CM No. 2050/2009 before the High Court of Delhi.
The dis...