The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) has held that once the books of accounts and the resultant trading results are accepted by the Assessing Officer (AO),…
The Gujarat High Court ruled that assignment of long-term leasehold rights amounts to transfer of immovable property and subsequently, falls outside the scope of supply. Therefore quashed the show cause…
The Madras High Court recently directed the Income Tax Department to allot a fresh Permanent AccountNumber (PAN) to an assessee after it was found that the same PAN had been erroneously issued to another…
The Ministry of Finance has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025, bringing important changes to modernise the Capital Gains Accounts Scheme (CGAS), 1988. Wider Coverage of Sections…
On 21 November 2025, the Central Government notified the implementation of parts of the Code on Wages, 2019 through a notification published in the Gazette of India. The notification states…
This analysis provides a statutory and strategic examination of the parallel structures of tax concessions extended across the primary categories of assessees: non-corporate entities (Individuals, HUF, AOP, BOI, AJP) under…
I. Statutory and Operational Foundation of the HUF A. Defining the Hindu Undivided Family (HUF) The Hindu Undivided Family (HUF) constitutes a distinct and unique legal entity within the Indian…
Introduction The implementation of tax and anti-money laundering laws in India comes with a robust set of legislative tools, with the attachment of property being one of the most critical.…
The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter ₹35,00,000 to the Commissioner of Income Tax (Appeals) [CIT(A)] to allow the assessee to prove the complete…
Each year on 26 November, India observes Constitution Day to commemorate the adoption of the Constitution by the Constituent Assembly in 1949. More than a ceremonial anniversary, the day serves…