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Final Deadline Alert: Correct TDS/TCS Returns for FY 2018-19 to 2023-24 Before 31 March 2026
Final Deadline – 31 March 2026 for Correcting TDS/TCS
Returns for FY 2018-19 to FY 2023-24The Central Board of Direct Taxes (CBDT) has provided an
exceptional one-time window allowing all deductors to revise, correct...
Quashes Section 263 revision, holds Section 69C inapplicable where source of payment remains undisputed
Quashes Section 263 revision, holds Section 69C inapplicable where source of payment remains undisputedDelhi ITAT quashes revisionary proceedings under Section 263, holding that Section 69C could not be invoked in the ab...
Dividend/interest income not profit ‘derived’ from business, ineligible for Section 36(1)(viii) deduction claim
Dividend/interest income not profit ‘derived’ from business, ineligible for Section 36(1)(viii) deduction claimIn a judgment pronounced on 10.12.2025, Supreme Court dismisses assessee’s (National Cooperative Develo...
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
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 ...
Deemed Let-Out Property: Contemporary Tax Treatment of Residential, Commercial and Stock-in-Trade Units After the Finance Act, 2024
Deemed Let-Out
Property: Contemporary Tax Treatment of Residential, Commercial and
Stock-in-Trade Units After the Finance Act, 2024 A central
feature of the scheme of taxation under the head “Income from House ...
The Dispute Resolution Panel (DRP): Concept, Scope and Appellate Framework under the Income-tax Act, 1961
The Dispute
Resolution Panel (DRP): Concept, Scope and Appellate Framework under the
Income-tax Act, 1961 1. IntroductionThe Dispute
Resolution Panel (DRP) is one of the most significant innovations introduced in...
THE MERCANTILE METHOD OF ACCOUNTING & THE ACCRUAL SYSTEM UNDER THE INCOME-TAX ACT, 1961
THE MERCANTILE
METHOD OF ACCOUNTING & THE ACCRUAL SYSTEM UNDER THE INCOME-TAX ACT, 1961
1. IntroductionThe method of
accounting adopted by an assessee forms the very foundation upon which taxable
income is comp...
Addition under Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are Rejected and Cash Sales Duly Recorded?
Addition under
Section 68 for Demonetisation Cash Deposits – Whether Possible When Books Are
Rejected and Cash Sales Duly Recorded? ITAT Mumbai –
Rakesh Jain v. DCIT (2025)ITA No.
546/Mum/2025 │ Order date...
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)
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) I. Conceptual
Framework1. Section
45(3) â...
Addition under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of Provisos to Section 68 – Valuation under Section 56(2)(viib)
Addition
under Section 68 – Evidentiary Value of Statements under Section 131 – Scope of
Provisos to Section 68 – Valuation under Section 56(2)(viib)
Madras High
Court – PCIT, Central–1, Chennai v. Lalith...