ITAT Delhi: Reassessment proceedings Section 147 - Where notice under section 148 was issued not only in contravention of provisions of section 151 as sanction of concerned Specified Authority as prescribed i.e PCCIT was not obtained, but same was also time-barred as per provisions of section 149 as same was issued after three years, therefore, impugned notice… Read More ...

Delhi ITAT: Hon'ble Delhi ITAT held that mechanical approval cannot be sustainable in law in the light of judicial dicta available. The approval memo is totally silent on the issues involved and has granted omnibus approval without any thoughtful process being discernible. A single approval u/s 153D has been accorded in respect of Three assessment years and… Read More ...

Bombay High Court: S. 148A : Reassessment-Conducting inquiry, providing opportunity before issue of notice-Reassessment notice issued after 29.03.2022 by Jurisdictional AO instead of Faceless AO is without jurisdiction and void ab initio-DRP cannot ignore binding jurisdictional High Court ruling in Hexaware Technologies Ltd-Refusal to follow jurisdictional precedent is impermissible-the Court also cautioned the tax authorities that continued disregard… Read More ...

By Shreyam Shah, B.Com. F.C.A.,DISA, Partner - B S Shah and Co.: Like the Union Budget itself, our attempt to analyze its proposals under the Direct Tax Laws and GST has also been a yearly phenomenon since last many years. We attempt to make our Analytical Note on Budget Highlights, a unique and comprehensive piece of work, in the sense that, with respect to each important amendment… Read More ...

By Adv. Aaditya Bhatt and Adv. Chandni Joshi: Finance Minister Nirmala Sitharaman presented India's Union Budget 2026-27 on February 1, 2026, centering it around three kartavyas (duties): accelerating economic growth, expanding opportunities, and empowering citizens. The budget allocates ₹40,000 crore for semiconductors, ₹10,000 crore for biopharma, and establishes rare earth corridors, positioning India as a global manufacturing powerhouse while maintaining fiscal discipline with… Read More ...

By Vanshika Godbole: The article discusses the Direct Tax Code(DTC) 2025, which has replaced the old Income Tax Act 1961. The article discusses how the new DTC Act came into existence and all the key changes that it has brought. The article highlights the advantages of bringing this new act and how it will ease out the complications… Read More ...