Once Form 2 Is Issued Under VSVS, CIT(A) Cannot Remand Assessment; Proceedings Stand Settled Conclusively Issue Whether the CIT(A)/NFAC and Tribunal erred in deciding and remanding an appeal when a declaration under the Direct Tax Vivad se Vishwas Scheme, 2024 had already been accepted with Form No. 2 issued and full payment made. Facts Pendency… Read More »
Company Performing Broader Auto-Component Manufacturing Functions Is a Valid Transfer Pricing Comparable Under TNMM Issue Whether a company performing broader auto-component manufacturing functions can be selected as a valid comparable under the Transactional Net Margin Method (TNMM), especially when accepted in subsequent assessment years. Whether the Assessing Officer (AO) is required to grant set-off of… Read More »
Online Assessment Notification: ICAI CCIB Paper 1 on 8th August 2026 Notification for Online Assessment Test (AT) for Certificate Course Investment Banking (CCIB) – 8th August 2026. Paper 1 – 10:00 AM to 12:00 Noon IST through Digital learning Hub, Organized by Financial Markets and Investors’ Awareness Committee of ICAI – (13-07-2026) The ICAI Financial… Read More »
ICAI Online Information Systems Audit (ISA) Eligibility Test Notification (22nd August 2026) Notification for Online Eligibility Test (ET) for Post Qualification Course on Information Systems Audit on Saturday, 22nd August, 2026 (10:00 AM to 12:30 PM). – (16-07-2026) Based on the provided document, here are the key points for the ICAI Online Eligibility Test (ET)… Read More »
ICAI Online Assessment Test for Certificate Course on NBFCs (9th August 2026) Notification for Online Assessment Test (AT) for Certificate Course Non-Banking Financial Companies (NBFCs) – 9th August 2026. Paper 1 – 10:00 AM to 12:00 Noon IST through Digital learning Hub, Organized by Financial Markets and Investors’ Awareness Committee of ICAI. – (23-07-2026) ICAI… Read More »
INCOME TAX CASE LAWS 24.07.2026 Section Case Law Title / Source Brief Summary Citation Relevant Act N/A India-Mauritius DTAA Amendment Protocol approved to amend the India-Mauritius DTAA to curb treaty shopping by revising the preamble and introducing the Principal Purpose Test (PPT) to deny treaty benefits for abusive arrangements. Click Here Income-tax Act, 1961 /… Read More »
Criminal Prosecution Under Section 276C Quashed as Underlying Penalty Under Section 271AAB Was Deleted Issue Whether criminal prosecution under Section 276C(1)(i) for willful attempt to evade tax can be sustained when the foundational penalty under Section 271AAB has been quashed by the Income Tax Appellate Tribunal and no stay on the quashing order exists. Facts… Read More »
Short Response Window and Unsubstantiated Veil-Lifting Invalidates Section 179 Recovery Order Against Directors Issue Whether a Section 179 order holding directors liable for a public limited company’s tax dues is legally sustainable when issued with only two days’ response time and without providing foundational facts to lift the corporate veil. Facts Tax Default and Notice:… Read More »
Reassessment Notice Issued Under TOLA for AY 2015-16 Quashed as Time-Barred Following Rajeev Bansal Precedent Issue Whether reassessment proceedings initiated for Assessment Year 2015-16 under Section 148, following the deemed show-cause notice procedure pursuant to Ashish Agarwal, are time-barred and liable to be quashed under Section 149 read with TOLA in light of the Supreme… Read More »
Reopening Order Set Aside and Remanded for Non-Conduct of Inquiry Under Section 148A(a) Despite Prior Approval Reopening Order Set Aside and Remanded for Non-Conduct of Inquiry Under Section 148A(a) Despite Prior Approval Issue Whether an order passed under Section 148A(d) and subsequent notice issued under Section 148 are legally sustainable when the Assessing Officer obtained… Read More »