Bar on Updated Returns Post-Scrutiny Notice Issuance Reference: Section 139(8A) read with Section 143 of the Income-tax Act, 1961 Assessment Year: 2024-25 Status: In Favor of Revenue (Writ Petition Dismissed) 1. The Core Dispute: Filing Updated Returns during Scrutiny In this matter for Assessment Year 2024-25, the assessee’s case was selected for scrutiny under the… Read More »
Attachment of Admitted Sum as Benami Property and Remand for Further Prosecution Inquiry Reference: Sections 27, 53, and 54 of the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act) Status: Partly in Favor of Assessee / Remanded for Investigation 1. The Core Dispute: Demonetised Cash Deposits and Benami Loans The case involved a sum… Read More »
Legal Case Digest: Invalidation of Special Audit Orders for Missing Document Identification Number (DIN) Reference: Section 142(2A) read with Section 119 of the Income-tax Act, 1961; CBDT Circular No. 19/2019 Assessment Year: 2023-24 Status: In Favor of Assessee (Orders Quashed) 1. The Core Dispute: Procedural Mandates vs. Special Audit Powers In this case (e.g., Sanjay… Read More »
Writ Jurisdiction Barred After GSTAT Becomes Functional 1. The Core Dispute: Writ Remedy vs. Statutory Appeal The petitioner challenged a demand order passed under Section 73 (for FY 2019-20) which was subsequently affirmed by the first appellate authority. At the time of filing the writ petition, the Goods and Services Tax Appellate Tribunal (GSTAT) was… Read More »
Stay on Section 74 SCN: Jurisdictional Challenge Over 1/3rd Land Deduction (2026) 1. The Conflict: Mandatory 1/3rd Abatement for Land The controversy stems from Paragraph 2 of Notification No. 11/2017-Central Tax (Rate), which imposes a mandatory deeming fiction. It requires builders to deduct exactly 1/3rd of the total consideration as the value of land, regardless… Read More »
Commencemenr of the Sabka Bima Sabki Raksh (Amendment of Insurance Laws) Act 2025 MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 3rd February, 2026 S.O. 490(E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 (40 of… Read More »
Government notifies Baggage Rules, 2026. New Customs Baggage (Declaration and Processing) Regulations, 2026 and also issues a Master Circular New Rules will simplify procedures, enhance transparency, enable electronic and advance declarations and ensure smooth clearance New changes will allow enhanced general free allowance; transfer of residence benefits; special allowances for jewellery; new provisions for temporary… Read More »
Allowing deduction to non-life insurance business when TDS, not deducted earlier is paid later Part B of Schedule XIV of the Act provides for computation of profits and gains from insurance business other than life insurance. Paragraph 4(1)(a) of Schedule XIV provides that while computing the profits and gains of such business, any expenditure, allowance,… Read More »
Application of TDS on supply of manpower Section 393(1) [Table: Sl. No. 6(i)] provides for the tax deduction at source (TDS) in the case of payments made to contractors for carrying out any work. It provides for rate of deduction of 1% when payment is made to individual or HUF and 2% in other cases.… Read More »
Enabling filing of declaration for no deduction to a depository Section 393(6) of the Act provides that tax is not to be deducted at source in certain cases. As per the provisions of the said section, a written declaration is to be filed by the assessee for no deduction of tax at source to the… Read More »