Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
A parliamentary Select Committee reviewed the Income-Tax Bill, 2025, recommending multiple amendments to align definitions, clarify provisions, and ensure consistency with prior laws. Key suggestions included refining definitions of "capital asset," "infrastructure capital company," and "parent company"; clarifying deductions related to house property, scientific research, and employer pension contributions; and addressing ambiguities in carry forward of losses, tax rebates, and non-profit organization provisions. The Committee emphasized reinstating certain safeguards in anti-avoidance rules, expanding electronic payment acceptance to professionals, and specifying jurisdictional limits for evidence powers. It also proposed amendments to penalty discretion, valuation qualifications, and timelines for non-resident compliance. The Committee sought to remove inconsistencies with the repealed Income-tax Act, 1961, and recommended drafting corrections to enhance clarity, prevent litigation, and maintain fairness in tax administration. The report was presented to the Lok Sabha on July 21, 2025.
A parliamentary Select Committee reviewed the Income-Tax Bill, 2025, recommending multiple amendments to align definitions, clarify provisions, and ensure consistency with prior laws. Key suggestions included refining definitions of "capital asset," "infrastructure capital company," and "parent company"; clarifying deductions related to house property, scientific research, and employer pension contributions; and addressing ambiguities in carry forward of losses, tax rebates, and non-profit organization provisions. The Committee emphasized reinstating certain safeguards in anti-avoidance rules, expanding electronic payment acceptance to professionals, and specifying jurisdictional limits for evidence powers. It also proposed amendments to penalty discretion, valuation qualifications, and timelines for non-resident compliance. The Committee sought to remove inconsistencies with the repealed Income-tax Act, 1961, and recommended drafting corrections to enhance clarity, prevent litigation, and maintain fairness in tax administration. The report was presented to the Lok Sabha on July 21, 2025.
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