Articles

The Ministry of Finance has introduced some significant changes in buy-back taxation in the Finance Act (No. 2), 2024, which is effective from October 1, 2024.

Important Income Tax Alert: Major Amendment in Buy-Back Taxation

Judgement

ITAT quashes 1.32 crore addition for cash deposit during demonetization, holding sales genuine

Cash During Demonetization: ITAT Says VAT Accepted Sales Can’t Be Taxed Again u/s 68

ITAT quashes 2.79 crore additions; holds AO’s actions lacked fair hearing, evidence, and legal justification.

No Proof, No Tax: ITAT Quashes 2.79 Cr Additions Based on Assumptions

High Court sets aside reassessment as 148A(b) notice didn’t mention escaped income of Rs. 11.37 Cr. AO acted beyond the notice scope.

Income Tax: HC Quashes Reopening Based on Insight Portal & Form 15CA/15CB Data

Missed claiming the Section 87A rebate? ITAT rules that such omissions are correctable. CPC can't deny a rebate if a revised return is filed under Section 139(5).

Income Tax Section 87A Rebate Denied by CPC? ITAT Rules in Favor of Taxpayer

The Central Board of Direct Taxes (CBDT), on June 13, 2025, issued a circular outlining the mandatory parameters under which certain Income Tax Returns (ITRs) are selected for complete scrutin

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Important Income Tax Alert: Major Amendment in Buy-Back Taxation

Cash During Demonetization: ITAT Says VAT Accepted Sales Can’t Be Taxed Again u/s 68

No Proof, No Tax: ITAT Quashes 2.79 Cr Additions Based on Assumptions

Income Tax: HC Quashes Reopening Based on Insight Portal & Form 15CA/15CB Data

Income Tax Section 87A Rebate Denied by CPC? ITAT Rules in Favor of Taxpayer

What Triggers an ITR Scrutiny Notice? Here is what the IT Department Looks while selecting ITR's for Scrutiny