Income Declaration Scheme declarations can evidence share-capital sources, while round-tripped funds and cash-linked credits require further verificat...
Permanent establishment tests: independent subsidiary premises and principal-to-principal dealings did not create Indian taxability for offshore suppl...
Valuation Officer estimates govern property-value additions once statutory valuation is invoked, requiring fresh consideration of objections and compa...
Waiver of written show-cause notice may prevent a later procedural challenge after participation in customs adjudication, preserving statutory appella...
Retrospective invalidity of ocean-freight IGST supports refunds despite non-party status and prior credit utilisation, subject to authorised appeal gr...
Additional evidence in departmental appeals may include show-cause-notice material without introducing a new case where it merely corroborates existin...
Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income com...
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The Income-tax (Sixth Amendment) Rules, 2026 amend rule 231 to cover applications seeking waiver, as well as imposition, of penalty and substitute Form No. 161 for waiver applications. The prescribed form requires taxpayer and assessment or reassessment details, assessed and under-reported income, tax and interest payable, additional income-tax payable in lieu of penalty, and payment particulars. Additional income-tax is computed at 100% or 120% of tax on specified under-reported income categories. Applicants must verify that no appeal has been filed against the relevant order and undertake not to file one within the statutory period. The rules take effect upon Official Gazette publication.
The Income-tax (Sixth Amendment) Rules, 2026 amend rule 231 to cover applications seeking waiver, as well as imposition, of penalty and substitute Form No. 161 for waiver applications. The prescribed form requires taxpayer and assessment or reassessment details, assessed and under-reported income, tax and interest payable, additional income-tax payable in lieu of penalty, and payment particulars. Additional income-tax is computed at 100% or 120% of tax on specified under-reported income categories. Applicants must verify that no appeal has been filed against the relevant order and undertake not to file one within the statutory period. The rules take effect upon Official Gazette publication.
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