Form 73 Income Tax Rules 2026 pdf download and Key points Form 73 Income Tax Rules 2026 pdf download and Key points FORM NO. 73 [See rule 145] Statement of income distributed by a securitisation trust to be provided to the investor under section 221 Under the Income-tax Rules, 2026, Form No. 73 replaces the… Read More »
Form 72 Income Tax Rules 2026 pdf download and Key points Form 72 Income Tax Rules 2026 pdf download and Key points FORM NO. 72 [See rule 145] Statement of income paid or credited by a securitisation trust to be furnished under section 221 Under the Income-tax Rules, 2026, Form No. 72 replaces the erstwhile… Read More »
Important Income Tax Case Laws 18.04.2026 Section Case Law Title Key Judicial Ruling Citation Sec 2(47) N. G. Chandra Reddy (HUF) JDA Transfer: An irrevocable license/possession via GPA is a “transfer.” However, if consideration was taxed in later years, it cannot be taxed again in the year of transfer (No double taxation). Click Here Sec… Read More »
Form 71 Income Tax Rules 2026 pdf download and Key points Form 71 Income Tax Rules 2026 pdf download and Key points FORM NO. 71 [See rule 142] Verification by an accountant for computation of exempt income of specified fund, attributable to the investment division of an offshore banking unit, for purposes of Schedule VI… Read More »
Form 70 Income Tax Rules 2026 pdf download and Key points Form 70 Income Tax Rules 2026 pdf download and Key points FORM NO. 70 [See rule 141] Annual Statement of exempt income and income taxable at concessional rate for an investment division of an offshore banking unit. Under the Income-tax Rules, 2026, Form No.… Read More »
Penalty under Section 270A cannot be levied for disallowances already made in the Section 143(1) intimation. The Dispute The assessee delayed PF/ESI remittances. Stage 1: The CPC disallowed this in the Section 143(1) intimation. Stage 2: After a search, the AO passed a Section 153A order, repeating the same disallowance and adding a penalty for… Read More »
Additions in search assessments for “unabated” years are illegal without specific incriminating material. The Dispute: Completed Assessments vs. Search Powers The Conflict: A search was conducted on the assessee. The Assessing Officer (AO) issued notices for the previous six years and made various additions and disallowances. The Revenue’s Stance: Once a search is initiated, the… Read More »
APAs signed with the CBDT are binding; the TPO cannot override them with standard ALP adjustments. The Dispute The assessee, a subsidiary involved in ink manufacturing, had its international transactions adjusted by the Transfer Pricing Officer (TPO). However, the assessee had already concluded a “Rollback” APA with the CBDT covering that specific year. The Verdict… Read More »
Adoption of Stamp Duty Value without referring to a Valuation Officer is illegal if the taxpayer objects. The Dispute: Circle Rate vs. Real-World Value The Conflict: The assessee purchased three properties where the Stamp Duty Value (SDV) was significantly higher than the actual price paid (a gap of ₹94.69 lakhs). The Revenue’s Stance: Under Section… Read More »
Buy-back of shares results in extinguishment of capital, not “acquisition of property” under Section 56(2)(x). The Dispute: Restructuring vs. Asset Acquisition The Conflict: The assessee-company bought back its own equity shares from shareholders at a price lower than the Fair Market Value (FMV). The Revenue’s Stance: The Assessing Officer (AO) argued that the company “purchased”… Read More »