Important Updates Of Case Laws, Articles And Association News
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Association News
ITAT Amendment Rules, 2025 Notified: Appeals to Be Filed with Digital Signature
Case Laws
Ramkrushna Sharda Sevashram vs. CIT (Exemption) (ITAT Rajkot)
ITAT Rajkot: Assessee applied for regular registration under section 12A(1)(ac)(iii) of the Act. But due to oversight, the trustees did not notice the receipt of mail related to proceedings under section 12A(1)(ac)(iii). Hence the assessee was not able to file response for the notice within specified time limit. Hence, the application for regular registration under section 12A… Read More ...
ITAT Hyderabad: Penalty u/s 270A(9) cannot be levied if income is offered under the wrong head of 'Capital Gains' instead of 'Other sources' (i) For levy of penalty under section 270A(9) of the Act, the case of the assessee must fall under one of the clauses (a) to (f) of the said sub-section. In the present case,… Read More ...
Articles
The Direct Tax Code(DTC) 2025: Overall analysis and Key Changes
By Vanshika Godbole: The article discusses the Direct Tax Code(DTC) 2025, which has replaced the old Income Tax Act 1961. The article discusses how the new DTC Act came into existence and all the key changes that it has brought. The article highlights the advantages of bringing this new act and how it will ease out the complications… Read More .. .
Budget 2026: Why Income Tax Amendments Will Be Made in the 2025 Act Instead of the Repealed 1961 Law
By Adv. Aaditya Bhatt and Adv. Chandni Joshi: India's taxation landscape is undergoing a historic transformation with the Income Tax Act, 2025 replacing the six-decade-old Income Tax Act, 1961 from April 1, 2026. This article examines why Budget 2026 amendments will be incorporated into the new 2025 Act rather than the repealed 1961 legislation. The legal framework, established under Section 536 of the… Read More ...
Final Order beyond Limitation Period: Approach of ITAT to Section 153(4) read with Sections 143(3), 144C and 144B
By Adv. Chandni Joshi: This paper considers the contentious issue of extending the statutory time limits under Section 153 to complete tax assessment through the DRP facility under Section 144C of the Income Tax Act. However, recent judgments of various tribunals as well as judgments of prominent high courts, such as the Madras, Bombay, and Delhi high courts, indicate… Read More ...
Section 80P(2)(d): Deduction of Interest on Statutory Investments with Cooperative Banks – An In-depth Legal Analysis
By Adv. Aaditya Bhatt: The Gujarat High Court has made a landmark decision on the matter, ruling that cooperative societies can satisfactorily claim tax deductions under Section 80P(2)(d) Income Tax Act for the interest income generated through their investments in cooperative banks. According to the court decision, cooperative banks, because they fall under the state cooperative societies Acts, fall… Read More ...
Right-Angled Input Tax Credit (ITC) Claim: How to Avoid GST Departmental Assessments, Mismatch Notices & Penalties.
By Rakesh Kushwah: Input Tax Credit (ITC) remains one of the most litigated and closely monitored areas under the Goods and Services Tax (GST) framework. With increasing reliance on system-driven matching, auto-generated statements such as GSTR-2B, and data analytics by tax authorities, incorrect or unsupported ITC claims frequently result in mismatch notices, reversals, interest demands, and assessments under… Read More ...
Regards,
Editorial Board