News

Budget 2026 marks a transition phase where tax changes will be aligned with the new Income Tax Act, 2025, shifting from section-based provisions to a simplified schedule-based structure.

Budget 2026 and New Income Tax Act 2025: Why Tax Rules Are Changing Before They Begin

Judgement

Tribunal holds NBFC was engaged in genuine lending activity and not a paper entry provider

Registered NBFC Can’t Be Treated as Accommodation Entry Provider: ITAT

Tribunal held the reassessment invalid because the income tax department failed to issue the notice through the correct officer.

Reassessment Declared Invalid Because Notice Was Issued Without Proper Authority: ITAT

The High Court criticised the Income Tax Department's re-initiation of the assessment proceedings, calling it arbitrary and unconstitutional.

Delhi High Court Quashes Tax Reassessment on NDTV Promoters Radhika and Prannoy Roy

ITAT held that once an NCLT-approved resolution plan is in force under the IBC, income-tax proceedings cannot continue.

Once Insolvency Plan Is Approved, Income Tax Proceedings Cannot Continue: ITAT

ITAT reduces the demonetisation cash addition from Rs. 2.26 crore to Rs. 2 lakh and held that normal tax provisions, not section 115BBE, apply for AY 2017-18.

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Budget 2026 and New Income Tax Act 2025: Why Tax Rules Are Changing Before They Begin

Registered NBFC Can’t Be Treated as Accommodation Entry Provider: ITAT

Reassessment Declared Invalid Because Notice Was Issued Without Proper Authority: ITAT

Delhi High Court Quashes Tax Reassessment on NDTV Promoters Radhika and Prannoy Roy

Once Insolvency Plan Is Approved, Income Tax Proceedings Cannot Continue: ITAT

ITAT Reduces Demonetisation Cash Addition from Rs. 2.26 Crore to Rs. 2 Lakh; Section 115BBE Ruled Out