ITAT Kolkata held that reassessment under Section 147 was invalid as it relied solely on existing records. In absence of new tangible material, reopening amounted to impermissible ...

This analysis explains capital asset definition, computation rules, and exemptions under the Income-tax Act. Landmark Supreme Court rulings clarify when capital gains can and cannot be ...

From April 1, 2026, taxpayers will operate under a cleaner, simpler Income Tax Act that keeps tax rates intact but makes ...

Possible prosecution, unless immunity or waiver is sought under section 440 (on payment of penalty at 120% of tax, subject to ...

India is set to witness one of the most significant tax reforms in decades. Starting April 1, 2026, the Central Government will roll out a completely new income tax law, replacing the decades-old ...

The 2026-27 Budget, seeking to harmonise the government's imperative to grant certainty while ensuring a rational tax policy, ...

Petition questions Section 247 of Income Tax Act, 2025, saying expanded powers to access digital devices and virtual space ...

Central Board of Direct Taxes has released draft Income-tax Rules and Forms to simplify compliance under the Income-tax Act, 2025, cutting paperwork, raising PAN thresholds, and expanding tax-free ...

With less than two months to go before India’s biggest direct tax overhaul in six decades takes effect, the income tax (I-T) ...

The Income Tax Department has released the Draft Income Tax Rules, 2026, offering taxpayers, professionals, and stakeholders ...

CBDT chairman Ravi Agrawal says Budget 2026-27 builds on recent tax reforms to simplify laws, cut litigation and improve certainty ahead of the new Income Tax Act rollout.

Addressing a seminar on Direct Taxes organised by the Income Tax Bar Association, Calcutta, Justice Mahadevan, who was the ...