ITAT Chandigarh Allows Section 87A Rebate on Long-Term Capital Gains from Debt Mutual Funds The Income Tax Appellate Tribunal (ITAT), Chandigarh, in a significant ruling on December 10, 2025, allowed a taxpayer to claim a rebate under Section 87A of the Income-tax Act, 1961, on Long-Term Capital Gains (LTCG) arising from debt mutual funds… Read More »
Karnataka HC Quashes ECL Blocking Without Hearing & Reasons S. A. Enterprises v. The Assistant Commissioner of Central Tax Karnataka High Court October 17, 2025 27868 of 2025 Core Issue The central issue was whether GST authorities can block a taxpayer’s Electronic Credit Ledger (ECL) under Rule 86A of the CGST Rules via a simple… Read More »
Notification under section 10(46A) of the Income Tax Act, 1961 in the case of Kota Development Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 7th January, 2026 S.O. 101(E).—In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act,… Read More »
Notification under section 10(46A) of the Income Tax Act, 1961 in the case of Kota Development Authority MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 7th January, 2026 S.O. 100(E).—In exercise of the powers conferred by sub-clause (b) of clause (46A) of section 10 of the Income-tax Act,… Read More »
Notification u/s 10(23EE) of the Income Tax Act, 1961 in the case of Core Settlement Guarantee Fund MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th January, 2026 S.O. 115(E).— In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43… Read More »
Notification on Special Deposit Schemes MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 9th January, 2026 F. No. 5(3)-B(PD)/2023.—It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs) Notification No.F.16(1)-PD/75 dated 30th… Read More »
AO’s Failure to Verify Depreciation on Impaired Goodwill Justifies Revision Under Section 263 Issue Whether the Principal Commissioner was justified in invoking revisionary jurisdiction under Section 263 on the ground that the Assessing Officer failed to examine the claim of depreciation on goodwill which was impaired to nil in the books of account. Facts Nature… Read More »
Limitation Period is Sacrosanct: Section 148 Notice for AY 2013-14 Issued on 31.07.2022 Held Invalid as Issued Beyond ‘Surviving Time’ Under Reassessment Scheme ISSUE Whether a notice under Section 148 dated 31.07.2022, issued for Assessment Year 2013-14 pursuant to the procedure under Section 148A (following the Supreme Court’s Ashish Agarwal directions), is valid, or… Read More »
Reassessment Invalid Where AO Relies Solely on Suspicious Transaction Report (STR) and Ignores Assessee’s Detailed Reply and Evidence Regarding Related Party Transactions ISSUE Whether the Assessing Officer (AO) can validly pass an order under Section 148A and issue a reopening notice under Section 148 solely based on inputs from a Suspicious Transaction Report (STR)… Read More »
Limitation Period is Sacrosanct: High Court Refuses to Condone Delay Beyond Statutory Maximum Citing Supreme Court Precedent ISSUE Whether the High Court, in exercise of its writ jurisdiction, can direct the Appellate Authority to accept an appeal filed beyond the maximum condonable period prescribed under Section 107 of the GST Act, merely on the… Read More »