Monthly Archives: April 2026

Infrastructure EPC Firms Qualify as Developers; Physical Goods Movement Disproves “Bogus Purchase” Allegations. 1. Section 80-IA: EPC Contractor as a “Developer” The Dispute: The Revenue denied the deduction, claiming the assessee was a “Works Contractor” (who simply builds) rather than a “Developer” (who takes risks). The Judicial Verdict: The Court ruled in favour of the… Read More »

Supreme Court Confirms Lessors are Entitled to Depreciation; Slaps Cost on Revenue for Delayed Appeal. The Dispute: “Real Lease” vs. “Financial Transaction” The Conflict: The assessee had leased out various assets and claimed depreciation under Section 32. The Revenue’s Stand: The Assessing Officer (AO) argued that these were not genuine leases but mere financial transactions… Read More »

AO Can Reopen Non-Filer Cases Based on Form 26AS, But Cannot Arbitrarily Estimate Profit Rates. I. Reassessment Validity: Form 26AS as “Information” The Dispute: The assessee did not file a return for AY 2010-11. The AO discovered contract income via ITS data and Form 26AS and reopened the case under Section 147. The Assessee’s Stand:… Read More »

Section 280 Income Tax Notice (Income Escaping Assessment) New Income Tax Act 2025 Under the Income-tax Act, 2025, a Section 280 Notice is the formal legal notice issued by an Assessing Officer (AO) to initiate proceedings for assessing or reassessing income that has escaped assessment for a specific tax year. This notice is the actual… Read More »

Condonation request for Form 10A u/s 12A User Manual 1. Overview In case taxpayers did not file Form 10A before the specified due date, there was no Existing functionality on e-Filing portal to condone the delay for filing of Form 10A. Now, the Taxpayer can file the Condonation request for filing Form 10A under section… Read More »