Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The tax authority issued the Income-tax (Twenty-First Amendment) Rules, 2025, effective 1 September 2025, amending the Income-tax Rules, 1962. The amendment revises Appendix-II, FORM NO. 7, paragraph 1, by replacing "assessment year...a sum" with wording that adds "or the block period..., as the case may be, a sum," thereby explicitly allowing sums to be stated for block periods as well as assessment years; the rules are promulgated under powers conferred by sections 295 and 156 of the Income-tax Act.
The tax authority issued the Income-tax (Twenty-First Amendment) Rules, 2025, effective 1 September 2025, amending the Income-tax Rules, 1962. The amendment revises Appendix-II, FORM NO. 7, paragraph 1, by replacing "assessment year...a sum" with wording that adds "or the block period..., as the case may be, a sum," thereby explicitly allowing sums to be stated for block periods as well as assessment years; the rules are promulgated under powers conferred by sections 295 and 156 of the Income-tax Act.
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