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    May 26, 2026   Case LawsIncome Tax
    Notional interest on slump sale balance deleted as commercially expedient arrangement, with consistency in revenue treatment supporting the assessee.
    May 26, 2026   Case LawsIncome Tax
    Real income theory and corroborated cash explanations: ITAT upheld deletion of one addition and sustained the balance.
    May 26, 2026   Case LawsIncome Tax
    Bad debt deduction and section 158A procedure upheld on distinct write-off, no double deduction, and pending High Court issue
    May 26, 2026   Case LawsIncome Tax
    Corpus donations for construction treated as capital receipts and held not taxable despite lack of trust registration.
    May 26, 2026   Case LawsIncome Tax
    CSR donation qualifies for section 80G deduction where statutory conditions are met despite business expense disallowance.
    May 26, 2026   Case LawsIncome Tax
    Beneficial ownership of bank account controls section 68 addition where deposits were made in trust account, not assessee's account.
    May 26, 2026   Case LawsIncome Tax
    Penalty not automatic on deemed additions and omitted fixed deposit interest; each item must be independently tested for concealment.
    May 26, 2026   Case LawsIncome Tax
    Holding period for immovable property starts when enforceable rights arise, making the gain short-term capital gain.
    May 26, 2026   Case LawsIncome Tax
    Royalty and subcontract disallowances sent back for fresh verification; consequential penalty under section 270A also kept open.
    May 26, 2026   Case LawsIncome Tax
    Retrospective tolerance band and agreement-date indexation defeat property tax additions; unexplained investment remanded for verification
    May 26, 2026   Case LawsCustoms
    Cost recovery charges for CFS customs deployment upheld; prior conduct, res judicata and estoppel barred renewed challenge.
    May 26, 2026   Case LawsCustoms
    Written acceptance of enhanced import value does not waive the right to challenge reassessment under customs law.
    May 26, 2026   Case LawsCustoms
    Incomplete BIS testing cannot justify reclassification or confiscatory action; declared customs classification restored and enhanced redemption fine s...
    May 26, 2026   Case LawsIndian Laws
    Grave suspicion and Section 65B compliance barred reliance on CCTV footage, sustaining discharge of accused officers.
    May 25, 2026   NotificationsCustoms
    Anti-dumping duty on natural mica based pearl industrial pigments extended until 25 November 2026
    May 25, 2026   NotificationsCustoms
    Anti-dumping duty on Monoisopropylamine imports from China imposed for five years to address dumping and injury
    May 25, 2026   CircularsDGFT
    TRQ allocation for raw cane sugar to the USA: export quota notified, with origin certification and reporting conditions continuing.
    May 25, 2026   CircularsCustoms
    ICES 1.5 goes live at Kadakola ICD, enabling EDI-based import export processing and customs operations.
    May 25, 2026   CircularsDGFT
    Digital Certificate of Origin module launched for Agarwood exports, enabling online applications, verification, and electronic issuance.
    May 25, 2026   Case LawsGST
    Binding advance ruling bars contrary show cause notice; writ jurisdiction available despite alternative remedy
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    May 26, 2026   Case Laws Income Tax
    Notional interest on slump sale balance deleted as commercially expedient arrangement, with consistency in revenue treatment supporting the assessee.
    May 26, 2026   Case Laws Income Tax
    Real income theory and corroborated cash explanations: ITAT upheld deletion of one addition and sustained the balance.
    May 26, 2026   Case Laws Income Tax
    Bad debt deduction and section 158A procedure upheld on distinct write-off, no double deduction, and pending High Court issue
    May 26, 2026   Case Laws Income Tax
    Corpus donations for construction treated as capital receipts and held not taxable despite lack of trust registration.
    May 26, 2026   Case Laws Income Tax
    CSR donation qualifies for section 80G deduction where statutory conditions are met despite business expense disallowance.
    May 26, 2026   Case Laws Income Tax
    Beneficial ownership of bank account controls section 68 addition where deposits were made in trust account, not assessee's account.
    May 26, 2026   Case Laws Income Tax
    Penalty not automatic on deemed additions and omitted fixed deposit interest; each item must be independently tested for concealment.
    May 26, 2026   Case Laws Income Tax
    Holding period for immovable property starts when enforceable rights arise, making the gain short-term capital gain.
    May 26, 2026   Case Laws Income Tax
    Royalty and subcontract disallowances sent back for fresh verification; consequential penalty under section 270A also kept open.
    May 26, 2026   Case Laws Income Tax
    Retrospective tolerance band and agreement-date indexation defeat property tax additions; unexplained investment remanded for verification
    May 26, 2026   Case Laws Customs
    Cost recovery charges for CFS customs deployment upheld; prior conduct, res judicata and estoppel barred renewed challenge.
    May 26, 2026   Case Laws Customs
    Written acceptance of enhanced import value does not waive the right to challenge reassessment under customs law.
    May 26, 2026   Case Laws Customs
    Incomplete BIS testing cannot justify reclassification or confiscatory action; declared customs classification restored and enhanced redemption fine set aside.
    May 26, 2026   Case Laws Indian Laws
    Grave suspicion and Section 65B compliance barred reliance on CCTV footage, sustaining discharge of accused officers.
    May 25, 2026   Notifications Customs
    Anti-dumping duty on natural mica based pearl industrial pigments extended until 25 November 2026
    May 25, 2026   Notifications Customs
    Anti-dumping duty on Monoisopropylamine imports from China imposed for five years to address dumping and injury
    May 25, 2026   Circulars DGFT
    TRQ allocation for raw cane sugar to the USA: export quota notified, with origin certification and reporting conditions continuing.
    May 25, 2026   Circulars Customs
    ICES 1.5 goes live at Kadakola ICD, enabling EDI-based import export processing and customs operations.
    May 25, 2026   Circulars DGFT
    Digital Certificate of Origin module launched for Agarwood exports, enabling online applications, verification, and electronic issuance.
    May 25, 2026   Case Laws GST
    Binding advance ruling bars contrary show cause notice; writ jurisdiction available despite alternative remedy

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      Home› Highlights › Bill › 2016 › March, 2016 › This
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      Bill

      Insertion of new section 270A - Penalty for underreporting and...

      New Section 270A Introduced: Penalties for Underreporting and Misreporting Income, Addressing Minimum Alternate Tax Compliance.

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      BillMarch 2, 2016Act-Rules
      Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Appropriate provisions to cover minimum alternate tax and alternate minimum tax cases
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      ActsIncome Tax
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