Month: September 2025

Income Tax Department had issued an advisory on new time limit for filing TDS/TCS correction returns as per Income Tax Act 2025 which reduced time limit to two years from six years. The Finance Act (No. 2), 2024, has amended Section 200(3) and Section 206C(3B) of the Income-tax …

Provision for discount allowed as expenses as it had been discharged fully in the subsequent Assessment Year. In a recent judgment, the Karnataka High Court upheld the allowance of provision for discount following the matching principle as it had been discharged fully in the subsequent Assessment Year. ABCAUS …

Startup companies may now amalgamate/merge with unlisted companies – The Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025 The MCA has notified the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025 to amend 2016 Rules. Rule 25 related to merger or amalgamation of certain companies has been modified …

Merely because vendor could not produce evidence for original purchase of software sold to assesssee, the depreciation thereon could not be disallowed. In a recent judgment, ITAT Ahmedabad has held that merely because vendor could not produce the evidence for original purchase of software made by it, the …

Absence of documentary proof would not lead to conclusion that cash amount was not paid when the receiver has executed a promissory note – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that absence of documentary proof would not lead to the conclusion that cash …

Addition u/s 69C towards alleged bogus purchase deleted due to failure of AO to bring on record any material/evidence for alleging such transactions. In a recent judgment, Kolkata ITAT has deleted addition made u/s 69C towards alleged bogus purchase due to failure of the AO to bring on …

Reopening on the allegation of non disclosure of illegal mining was quashed as Apex Court did not declare it illegal till the date of its decision In a recent judgment Hon’ble Supreme Court dismissed the SLP of the Revenue against the order of the High Court quashing reopening …

Order u/s 148A(d) set aside as sanctioning authority wrongly recorded that no response was filed in response to the notice issued u/s 148A(b). In a recent judgment, Hon’ble Calcutta High Court held that the order u/s 148A(d) was vitiated as the sanction granting authority had wrongly recorded that …

Supreme Court declines to entertain inordinate delay of seven/six years in filing appeal by shifting responsibility of delay on counsel- SLP dismissed In a recent judgment, Hon’ble Supreme Court dismissed the SLP against the judgment of the High Court upholding the ITAT order that shifting responsibility of delay …

When assessee is given immunity from disclosing chicken, can’t be asked to disclose eggs – ITAT deleted addition u/s 69A In a recent judgment, ITAT quashed addition u/s 69A towards interest income on money declared under IDS-2016 observing that when the assessee is given immunity not to disclose …