Tax on salary 2025-26 ! टैक्स बचाने के लिए फार्म जमा करने की आखिरी तारीख ! INCOME TAX LATEST UPDATE
Tax on salary 2025-26 ! टैक्स बचाने के लिए फार्म जमा करने की आखिरी तारीख ! INCOME TAX LATEST UPDATE
Daily Archives: November 24, 2025
IMPORTANT INCOME TAX CASE LAW 22.11.2025
IMPORTANT INCOME TAX CASE LAW 22.11.2025 Section Case Law Title Brief Summary Citation Relevant Act Section 10(1) Changela Mohanbhai R HUF v. PCIT Revision proceedings initiated by PCIT for not issuing a single notice under Section 133(6) were invalid because the A.O. had made specific inquiries for agricultural income (which is exempt under Section 10(1))… Read More »
TDS Credit on Part Payment Allowed in Year of Deduction as Income was Taxed in Earlier Year
TDS Credit on Part Payment Allowed in Year of Deduction as Income was Taxed in Earlier Year Issue Whether the assessee is entitled to claim credit for Tax Deducted at Source (TDS) in Assessment Year (AY) 2023-24 on a part payment received for a property sale, even though the entire capital gain from the sale… Read More »
Reassessment Notices Issued by JAO Quashed: Mandatory Faceless Procedure Ignored
Reassessment Notices Issued by JAO Quashed: Mandatory Faceless Procedure Ignored Issue Whether the Jurisdictional Assessing Officer (JAO) has the jurisdiction to issue notices under Section 148A and Section 148 for reassessment after the notification of the E-Assessment of Income Escaping Assessment Scheme, 2022, or if such jurisdiction is exclusively vested in the National Faceless Assessment… Read More »
Hewlett Packard Financial Services (India) Pvt. Ltd. v. Dy. CIT (Based on matching facts for AY 2011-12)
Hewlett Packard Financial Services (India) Pvt. Ltd. v. Dy. CIT (Based on matching facts for AY 2011-12) Issue Whether the “HP Indigo Digital Press Printer,” a high-end digital offset printer leased out by the assessee, should be classified as “Plant and Machinery” (eligible for 15% depreciation) or as “Computer/Computer Peripheral” (eligible for 60% depreciation), considering… Read More »
Revision of Agricultural Income Assessment Quashed: AO’s Test-Check and Plausible View Upheld
Revision of Agricultural Income Assessment Quashed: AO’s Test-Check and Plausible View Upheld Issue Whether the Principal Commissioner of Income Tax (PCIT) can invoke revisionary jurisdiction under Section 263 on the ground that the Assessing Officer (AO) failed to make sufficient inquiries (such as issuing notices under Section 133(6)) regarding agricultural income, when the AO had… Read More »
Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA
Enhancing Tax Transparency on Foreign Assets & Income: Understanding CRS & FATCA A. Purpose of CRS and FATCA In this globalized economy, tax transparency and compliance has become paramount to ensure that taxpayers disclose their global income and assets accurately. The Common Reporting Standard (CRS) and the Foreign Account Tax Compliance Act (FATCA) are international… Read More »
Direct Tax Collections Continue Strong Growth Momentum: CBDT Releases Time Series Data (FY 2000–01 to FY 2024–25)
Direct Tax Collections Continue Strong Growth Momentum: CBDT Releases Time Series Data (FY 2000–01 to FY 2024–25) Issue: To provide a comprehensive, longitudinal view of India’s direct tax collections, showcasing the sustained growth trajectory, expansion of the taxpayer base, and improvements in compliance and tax administration efficiency. Facts: The Central Board of Direct Taxes (CBDT)… Read More »
CBIC Seeks Comments/Inputs on the Legality of Bunching of Multiple Financial Years into a Single Demand Notice under the GST Act
CBIC Seeks Comments/Inputs on the Legality of Bunching of Multiple Financial Years into a Single Demand Notice under the GST Act Issue: To address the numerous writ petitions filed across various High Courts challenging the practice of issuing a single, consolidated GST demand notice that covers non-compliance across multiple financial years (bunching), and to… Read More »
SC to Examine Validity of Central SCN When State Proceedings Close Without Adjudication
SC to Examine Validity of Central SCN When State Proceedings Close Without Adjudication Issue Interpretation of Section 6(2)(b): Does the statutory bar on parallel proceedings prevent Central GST authorities from issuing a Show Cause Notice (SCN) on a subject matter for which State GST authorities had already issued an SCN, even if the State proceedings… Read More »