Income Tax
Finance Bill, 2026: Key Direct Tax Amendments on Assessments and Appeals
The Finance Bill, 2026 introduces important refinements to the direct tax regime with a clear focus on easing compliance and reducing avoidable disputes. These...
Income Tax
Budget 2026: 5 Major Personal Tax Changes Every Taxpayer Must Know
Union Budget 2026 introduces targeted reforms aimed at easing compliance, reducing litigation, and rationalizing personal taxation. While tax rates remain unchanged, several structural and...
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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...
Income Tax
Whether the delay of 304 days in filing the appeal deserved to be condoned in absence of any explanation or affidavit ?
In the complex world of appellate tax litigation, time isn’t just a procedural formality it’s often the deciding factor between justice and finality.
The Income...
Income Tax
The Aishwarya Rai Bachchan ₹4 Crore Tax Case – Expert Analysis
In 2025, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, delivered a significant judgment in favor of Ms. Aishwarya Rai Bachchan, setting aside an...
Income Tax
Share sale proceeds not unexplained Karnataka HC upholds ITAT Order deleting Addition of Rs. 7cr. u/s 68.
Facts of the case
The assessee filed its return of income, declaring a STCL on sale of shares held in X Ltd. to three entities.
The...
Income Tax
Bought property cheaper than stamp value? That’s not ‘underreporting’.
Facts of the Case
The assessee, as b co-owner, purchased two properties at consideration amounts lower than the SDV of those properties.
The AO invoked section...
Income Tax
ITAT Judgement: You can’t call the purchases fake when you’ve already cashed in on the sales.
Facts of the case
The assessee was a proprietor engaged in wholesale trading. During scrutiny, AO noticed sundry creditors of significant amount.
Notices u/s 133(6) were...
Income Tax
Vodafone Idea Sale & Leaseback: Tax Planning or Colourable Device?
Issue Involved
Whether sale and lease back transaction are permissible as a part of tax planning?
Facts of the Case
The assessee had claimed lease rent as...
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