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TAX REASSESSMENT PROCEEDINGS
ITR filing season AY 2026-27: Received Section 143(2) notice for AY 2025-26? What it means and how to respondAs Section 143(2) scrutiny notices for AY 2025-26 reach taxpayers during the ITR filing season for AY 2026-27, this article explains why ta...- ITAT: Accrued interest component on non-convertible debentures sales is taxable as interest incomeThe ITAT has held that the accrued interest component embedded in sale proceeds from non-convertible debentures cannot automatically be tre...
- Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...
- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- Mumbai man received tax notice over unreported income, not filing ITR; ITAT rules in his favour on TDS benefit, tax demand reducedManoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through t...
- TDS credit must be allowed even without income tax return, says Income Tax Appellate TribunalThe Income Tax Appellate Tribunal has ruled that tax deducted at source credit cannot be denied once income is taxed. This decision came in...
- ITR assessment rules change from April 2026: Four key amendments explainedFour key changes to Income Tax Return (ITR) assessment rules will be effective from April 2026 for Tax Year 2026-27. These amendments, intr...
- No more technical escapes? Finance Bill 2026 pushes taxpayers to fight cases on meritsThe Finance Bill 2026 introduces significant changes to tax litigation in India. Tax cases will now be decided based on facts and merits, m...
- Big Four partners, top professionals hit with Income Tax notices over ‘exempt income’ claimsThe Income Tax department has issued scrutiny notices to senior professionals, equity partners of Big4 firms, and retired individuals regar...
- Shah Rukh Khan wins big in ITAT ruling: Understanding foreign tax credit ruleBollywood superstar Shah Rukh Khan won a significant legal battle as the Income Tax Appellate Tribunal (ITAT) ruled in his favor, overturni...
- SC dismisses UP govt's appeal against Allahabad HC's Flipkart tax orderThe Supreme Court upheld the Allahabad High Court's decision to quash tax reassessment proceedings against Flipkart India for the assessmen...
- Budget proposes steps to reduce litigation, 'Vivad Se Vishwas' scheme 2.0 in offingBudget 2024-25 proposes 'Vivad Se Vishwas' scheme 2.0, reduces reassessment limit to 5 years, and increases appeal thresholds. Changes to I...
- Congress leader Ajay Maken accuses BJP of 'tax terrorism', calls for I-T dept to pursue over Rs 4,600 cr demand from saffron partySpeaking at a press conference held at the AICC headquarters alongside Congress General Secretary Jairam Ramesh, party treasurer Ajay Maken...
- Congress' Maken says party served Rs 1,823 cr notice by I-T dept, calls it a 'premeditated, diabolical campaign'The Congress party has been issued a notice of around Rs 1,823 crore by the Income Tax department, adding to its financial worries before t...
- Congress's plea against tax re-assessment by IT authorities dismissed by HCThe Delhi High Court on Thursday rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it f...
- Delhi HC set to pass order on Cong's pleas against tax re-assessment proceedingsDelhi High Court to rule on Congress party's tax challenge involving over Rs 520 crore 'escaped' income. Justices Varma and Kaurav's decisi...
- Delhi High Court stays IT reassessment proceedings against NGO Oxfam IndiaThe NGO has filed a petition challenging the notices and orders issued against it after a survey was conducted in September 2022. The reass...
- HC stays Income Tax reassessment of PE Creations' investmentThe Delhi High Court has put a stop to the Income-Tax Department's reassessment proceedings into the investment made by private equity firm...
- Taxman challenges HC order quashing reassessment noticesIn the 2021 budget, the government had amended a provision governing reassessment proceedings under Section 148 of the Income-Tax Act, 1961...
- Over 1,300 I-T notices from old regime quashed by Delhi HCThe court's verdict may have a bearing on around 133,000 reassessment notices issued by the department after March 31, an income tax depart...
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