INCOME TAX APPELLATE TRIBUNAL DEHRADUN: Section 153A and section 148/147 cannot be initiated for the search year.The Assessee can only be assessed u/s 143(3)for the search year. Read More ...

Ahmadabad ITAT: Where audit report in Form No. 10B was already filed and available on record, when assessee's return was processed by CPC, denial of exemption under section 11 merely on account of alleged belated filing of Form No. 10B, was not justifiable. Further the learned CIT(Appeals) erred in declining to condone the delay of 1021 days… Read More ...

ITAT Mumbai: For the purpose of treating an asset being office premises as a part of the 'block of assets', it is not necessary that the possession of the office premises should have been given to the assessee. Once payment is made and there is a registered agreement, the office premises acquired during the year could be… 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 ...