Articles

The new forms and rules will be officially announced by the Income Tax Department around the implementation date of April 1, 2026

TDS Under the New Income Tax Act, 2025: Checklist for Preparation

TDS Under New Income Tax Act, 2025: Checklist for Preparation

Judgement

High Court quashes reassessment notice issued to Sir Jamsetjee Jejeebhoy Charity Fund, ruling that audit objections do not constitute valid information for reopening completed assessments.

Bombay HC: Audit Objection Cannot Justify Reopening of Assessment under Section 148A

ITAT ruled that the AO erred in disallowing Rs. 1.56 crore expense in AY 2016–17 since the related Form 15CA pertained to AY 2015–16 remittance

AO Not Justified in disallowing expense when Form 15CA Relates to prior year: ITAT

ITAT held that expenses incurred to make a residential property habitable like embedded fixtures qualify as cost of improvement under Section 48.

Costs Incurred to Make House Habitable Qualify as Part of Asset's Cost of Improvement: ITAT

ITAT rules that a registered valuer’s report without comparable sale evidence cannot override a DVO’s valuation based on verified market data and procedures.

Registered Valuer’s Unsupported FMV Report Cannot Override DVO’s Comparable Sales-Based Estimate

ITAT rules that a gift received from a brother-in-law qualifies as a genuine and exempt transaction under Income Tax Act. No tax liability arises.

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TDS Under New Income Tax Act, 2025: Checklist for Preparation

Bombay HC: Audit Objection Cannot Justify Reopening of Assessment under Section 148A

AO Not Justified in disallowing expense when Form 15CA Relates to prior year: ITAT

Costs Incurred to Make House Habitable Qualify as Part of Asset's Cost of Improvement: ITAT

Registered Valuer’s Unsupported FMV Report Cannot Override DVO’s Comparable Sales-Based Estimate

ITAT: Gift from Brother-in-Law Held Genuine and Tax-Free Under Income Tax