Development agreement without transfer of possession does not trigger capital gains tax. Issue Whether entering into a Development Agreement without handing over possession under Section 53A of the Transfer of Property Act or evidencing a transfer under Section 2(47)(vi) constitutes a “transfer” under Section 2(47) read with Section 45, attracting long-term capital gains tax in… Read More »
Executing a JDA granting construction rights alone does not constitute transfer or trigger capital gains tax. Issue Whether the execution of a registered Joint Development Agreement (JDA) granting construction and approval rights constitutes a “transfer” under Section 2(47)(v) of the Income-tax Act, 1961 read with Section 53A of the Transfer of Property Act, 1882, making… Read More »
Assessing Officer’s unverified classification of agricultural land as a non-capital asset warrants a de novo assessment. Issue Whether the assessment treating the sale proceeds of agricultural land as long-term capital gains based solely on an Inspector’s field enquiry—without placing official Revenue reports on record—warrants a fresh, de novo examination by the Assessing Officer when contradictory… Read More »
Crypto-Asset Reporting Obligations Under Section 509 of The Income Tax, Act 2025 Crypto-Asset Reporting Obligations Under Section 509 of The Income Tax, Act 2025 Released on : 24th July 2026 Disclaimer This Guidance Note intends to provide guidance to Reporting Crypto-Asset Service Providers (RCASPs) for compliance with the reporting obligations under section 509 of the… Read More »
INCOME-TAX (THIRD AMENDMENT) RULES, 2026 – AMENDMENT IN RULE 332 AND INSERTION OF FORM ITR-BN INCOME-TAX (THIRD AMENDMENT) RULES, 2026 – AMENDMENT IN RULE 332 AND INSERTION OF FORM ITR-BN NOTIFICATION G.S.R. 656(E) [NO. 97/2026/F. NO. 370142/11/2026-TPL], DATED 24-7-2026 In exercise of the powers conferred by section 294, read with section 533 of the Income-tax Act,… Read More »
Google and KDDI are ready to back Japanese startups. Google and KDDI are ready to back Japanese startups. The Google AI Futures Fund backs the startups that are building what’s next in AI — and we’re extending our support to Japan. In partnership with Japanese telecom leader KDDI, we’re launching the AI Startup Support Program… Read More »
GST CASE LAWS 27.07.2026 GST CASE LAWS 27.07.2026 Relevant Act Section Case Law Title Citation Brief Summary Central Goods and Services Tax Act, 2017 Section 7 CG Tollway Ltd. v. Union of India Click Here Notice issued against the High Court order holding that VAT precedents dealing with works contracts are inapplicable under GST (a… Read More »
Supreme Court Issues Notice on Dismissal of Appeal Beyond Section 107(4) Outer Condonation Limit Supreme Court Issues Notice on Dismissal of Appeal Beyond Section 107(4) Outer Condonation Limit Issue Whether the Appellate Authority and High Court were justified in rejecting an appeal for delay beyond the maximum condonable period under Section 107(4), where the limitation… Read More »
IGST Remitted Inadvertently Under Wrong Major Head Must Be Appropriated Towards CGST and SGST Liabilities Issue Whether a taxpayer who inadvertently paid its entire tax liability under the IGST head instead of splitting it between CGST and SGST can seek direct adjustment/appropriation of the IGST payment towards CGST and SGST liabilities instead of paying fresh… Read More »
Assessment Order Passed Without Granting Requested Personal Hearing Violates Section 75(4) and Is Void Issue Whether an assessment order confirming tax demands under Section 75 can be sustained when the taxpayer’s explicit request for a personal hearing was denied by the department. Facts The proceedings pertain to the assessment years 2017–18 through 2022–23 under the… Read More »