The Telangana High Court’s recent decision to quash reassessment proceedings under Sections 148A and 148 of the Income Tax Act, 1961, for failing to comply with the faceless assessment mandate,…
Small Businesses, Big Relief: Understanding Presumptive Taxation and the High Court’s Landmark Ruling For lakhs of small business owners across India, the compliance burden of income tax can feel…
Surveys under the Income Tax Act often unearth unaccounted stock, leaving both businesses and tax professionals grappling with a crucial question: Should such excess stock be taxed as regular business…
The digital age has transformed how businesses communicate, with WhatsApp, emails, and other messaging platforms now woven into daily operations. This shift has not gone unnoticed by tax authorities, who…
Timelines are the backbone of tax litigation. For taxpayers and practitioners, a single miscalculation of an appeal deadline can mean the difference between a fair hearing and a lost cause….
India’s capital gains exemption regime is designed to encourage taxpayers to reinvest their gains in productive assets—be it a new home or agricultural land. Yet, in real life, the process…
The Calcutta High Court’s recent decision in Winsome Highrise Pvt. Ltd. & Anr. vs Union of India & Ors. has sent ripples through the Indian tax community. By setting aside…
Section 54F and the Changing Landscape of Capital Gains Exemption Section 54F of the Income Tax Act has long served as a vital relief for taxpayers looking to reinvest capital…
Section 263 and the Supreme Court’s New Guardrails: A Fresh Look at Revisionary Powers Section 263 of the Income Tax Act, 1961 has long been a double-edged sword in the…
Picture a scenario where a single approving authority is expected to review and sign off on 85 complex tax assessment orders in just one day. Can genuine scrutiny and independent…