Income Tax
Can “Diary Notings” and “Retracted Statements” Alone Sustain an Addition?
In appellate tax practice, the truth is simple: a case is only as strong as the evidence that supports it.
In a recent landmark decision, the Income...
Income Tax
Can Profit Be Taxed Twice on the Same Bogus Purchase?
When books of accounts are accepted, can the Assessing Officer still tax “profit” on alleged bogus purchases again?
In a recent decision, the ITAT Delhi...
Latest Articles
Income Tax
Prem Prakash Gupta v. ITO – ITAT Jaipur Ruling on Turnover Definition for Stamp Vendors
Introduction
The concept of turnover under the Income-tax Act often appears straightforward, until it is applied to agency-based businesses. For licensed stamp vendors, where sales...
Income Tax
AI Hallucination in Court: ITAT Recalls Order Over Fake ChatGPT-Generated Case Laws in Buckeye Trust Tax Dispute
A recent tax tribunal order, hastily withdrawn after citing non-existent court judgments, has sparked concerns over the possible use of generative AI—a groundbreaking technology...
Income Tax
Advance Tax Payment
Advance tax may seem tricky, but knowing the basics can help you manage your money. This knowledge can also prevent surprises at the end...
Income Tax
How Family Transfers Can Impact Your Tax Bill – Clubbing of Income
Have you ever thought that gifting an asset to a family member might save you tax? Think again! The Income Tax Department has laid...
Company Law and IBC
Incorporating a Wholly Owned Company in India
India is a lucrative destination for foreign investors looking to expand their business presence. One of the most popular ways for foreign entities to...
Company Law and IBC
Section 139 of the Companies Act, 2013
When it comes to running a company, transparency and accountability are key. One of the pillars supporting these values is the role of auditors....
Income Tax
1961 to 2025 : Tax Transformation
Finance Minister Nirmala Sitharaman tabled the new Income Tax Bill, 2025, in Parliament on February 13, 2025. It aims to overhaul and modernize the...
Income Tax
Section 80TTB for Senior Citizens in India
For many seniors, handling money in retirement is about smart planning and enjoying their golden years. One of the most beneficial provisions in the...
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