Income Tax

Introduction Section 201 of the Income Tax Act 2025 provides a concessional tax regime for eligible domestic manufacturing companies. It allows qualifying companies to pay income tax at a reduced rate of 15%, subject to prescribed eligibility conditions and restrictions. However, the benefit is available only when the company exercises the option within the prescribed…

The Calcutta High Court has granted interim relief to a registered taxpayer by staying the coercive recovery of a ₹3.91 lakh GST demand. The Court observed that serious questions arise regarding the jurisdiction of the adjudicating authority that initiated proceedings under Section 74 of the CGST Act, 2017, warranting further judicial examination. The case is…

Section 87A Rebate Litigation: Is the ITAT Appeal Fee Always ₹10,000? A Fresh Perspective Can an Appeal Against Denial of Rebate Under Section 87A Be Filed with a Fee of Just ₹500? The recent litigation surrounding the denial of rebate under Section 87A has resulted in thousands of appeals before the Commissioner (Appeals) and the Income Tax…

Introduction Section 397 of the Income Tax Act, 2025 lays down the main compliance and reporting requirements related to tax deducted at source and tax collected at source. It covers TAN and PAN requirements, higher TDS and TCS rates, tax deposits, statement filing and correction of reporting errors.   This blog explains the major compliance…

A sitting judge of the Allahabad High Court has filed a petition challenging the denial of tax exemption on statutory allowances under the new tax regime. The plea seeks judicial review of the decision denying the exemption available on such allowances. A Bench of Justice Saumitra Dayal Singh and Justice Swarupama Chaturvedi directed the Union…

The Madras High Court on 8 July said that a provisional attachment of a taxpayer’s bank accounts under section 83 of the Central Goods and Services Tax (CGST) Act cannot be maintained only by reproducing the statutory language without revealing any tangible material or reasons to justify the action. Commissioner has the authority under section…

The Calcutta High Court has held that an order under Section 73 of the Central Goods and Services Tax (CGST/WBGST) Act, 2017 is validly issued within the prescribed limitation period if it is digitally signed by the proper officer on or before the statutory deadline, even if it is uploaded to the common portal on…

The Delhi High Court has set aside a GST special audit communication in Form ADT-03 and a DRC-01 issued for the FY 2018-19 after the department considered that no order u/s 73 of the Central Goods and Services Tax (CGST) Act had been passed by the deadline of 30 April 2024. A writ petition has…

Introduction Financial literacy matters more today than it ever has. With markets, taxes, and investment options growing more complex by the year, people are increasingly turning to digital platforms for guidance they can actually trust. Finance influencers have played a big part in this shift—breaking down complicated topics into content that’s easy to follow, backed…

Section 153C Cannot Be Invoked Mechanically: ITAT Jaipur Quashes Proceedings for Lack of Independent Satisfaction   AO Cannot Simply Copy the Satisfaction Note of the Searched Person-Independent Application of Mind Is Mandatory Search assessments under Sections 153A and 153C of the Income-tax Act confer extraordinary powers upon the Income Tax Department. However, these powers are…