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Income Tax
Section 54 is about Intent, Not Brick-by-Brick Completion
Tax law often forgets one thing: real life doesn’t move at the speed of statutes.Construction approvals get delayed. Plans change. Timelines slip.
The Kolkata Bench of the ITAT has now reaffirmed this reality in a...
Income Tax
Why India Needs Joint Taxation in Budget 2026 ?
In India, marriage changes almost everything social status, financial responsibilities, lifestyle choices.
Except one thing.
Income tax.
Even after marriage, the tax system continues to treat spouses as two completely unrelated individuals. Two returns. Two slabs. Two...
Income Tax
When Evidence Speaks Louder Than Technicalities: A Clear Message on Section 68 and Rule 46A
Tax litigation often turns not on facts, but on procedure.This recent ITAT ruling cuts through that noise and delivers a simple, powerful message: genuine evidence cannot be rejected merely on technical grounds.
The Background
The case...
Income Tax
No Tax Exemption for Tiger Global on Flipkart Stake Sale
The Supreme Court’s decision in the Tiger Global–Flipkart case is not just another capital gains dispute. It is a watershed moment in India’s international tax jurisprudence, fundamentally altering how tax treaties, tax residency certificates,...
Income Tax
Gujarat High Court Clarifies: Section 147 and Section 153C Cannot Be Used Interchangeably
Background: Why this Case was Important~
Under the Income-tax Act, the department has different provisions to reopen or reassess income. Two such provisions are:
• Section 147 – used when the Assessing Officer (AO) believes that...
GST
ITC Cannot Be Denied for Supplier Default!
Tripura High Court Protects Genuine TaxpayersÂ
Input Tax Credit (ITC) is the backbone of the GST framework. For businesses, it is not an incentive—it is a statutory mechanism to avoid tax cascading.
Yet, one concern continues...
Articles
Section 54 exemption was allowed even with ₹0 invested in Capital Gain Account Scheme.
Section 54 is a beneficial provision intended to encourage investment in residential housing by granting exemption from LTCG tax. However, taxpayers often face disallowance due to procedural lapses, particularly non-deposit of unutilized gains in the...
Company Law and IBC
How Binny Bansal lost DTAA protection despite moving abroad ?
The Income Tax Appellate Tribunal (Bengaluru Bench) rejected Binny Bansal’s claim of non-resident status for AY 2020–21, denying him benefits under the India–Singapore DTAA.
Despite relocating to Singapore, the Tribunal held that he continued to...
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