1 APRIL 2025 से किन RELATIVE से पैसे ले सकते हैं ! NEW INCOME TAX RULES 2025 Income Tax on Gift

No addition u/s 69 for cash deposits from liquor sales during demonetization, if properly accounted. Issue: Whether cash deposits made in Specified Bank Notes (SBNs) during the demonetization period by a State Government undertaking engaged in liquor sales should be treated as unexplained investments under Section 69 of the Income-tax Act, 1961, and taxed under… Read More »

Reassessment Invalid Due to Full Disclosure by Assessee. Issue: Whether a reassessment initiated under Section 147 of the Income-tax Act, 1961, is valid when the assessee had fully and truly disclosed all material facts necessary for completing the original assessment. Facts: The assessee had given interest-free loans to related concerns and claimed interest on borrowed… Read More »

Post-Commencement Subsidy Deemed Revenue Receipt Under Section 28(iv). Issue: Whether a subsidy received by an assessee-company engaged in manufacturing milk and milk products for developing an integrated cold chain facility, after the commencement of business, should be treated as a revenue receipt under Section 28(iv) of the Income-tax Act, 1961. Facts: The assessee-company, engaged in… Read More »

High Hostel Fees Disqualify Educational Institution from Tax Exemption. Issue: Whether a charitable organization operating a pre-primary school and a residential hostel, charging high hostel fees, qualifies for exemption under Section 10(23C)(vi) of the Income-tax Act, 1961. Facts: The assessee, a charitable organization, operated a pre-primary school for tribal students and a residential hostel for… Read More »

Seized Assets Deemed Benami Due to Concealment and Retracted Statements. Issue: Whether transactions or arrangements relating to seized movable properties (cash and gold bullion) were Benami under Section 2(9)(b) of the Prohibition of Benami Property Transactions Act (PBPTA), 1988, when a partnership firm claimed ownership but evidence suggested concealment of beneficial owners and later retracted… Read More »