INCOME TAX Act 1961 vs 2025 Section wise Table Based on the comprehensive excerpts provided from both the Income-tax Act, 1961 (as amended by Finance Act, 2025) and the Income-tax Act, 2025, here is the exhaustive section-mapping table. 1. Preliminary, Definitions & Basis of Charge Old Section (IT Act, 1961) Heading in Old Act New… Read More »
IMPORTANT INCOME TAX CASE LAWS 28.02.2026 Section Case Law / Advisory Core Ruling & Strategic Summary Citation S. 9 (Intl. Tax) ANZ Banking Group [Intra-Bank Interest] Interest paid by an Indian branch of a foreign bank to its Head Office/Overseas branches is not taxable in India. Click Here S. 28(iv) Mithi Software Tech [Loan Waiver]… Read More »
Depreciation on Goodwill in Slump Sale: Residual Value Recognized as Depreciable Intangible Asset Issue Whether depreciation is allowable on “Goodwill” arising in a slump sale when it is calculated as a residual amount (Purchase Consideration minus Fair Value of identifiable assets) rather than being specifically earmarked or paid for as a separate asset. Facts The… Read More »
Verification Report and PMGKY Disclosure Lead to Quashing of Benami Attachment of Jewellery I. Provisional Attachment under the Benami Act Issue Whether provisional attachment of jewellery seized during an income-tax search can be sustained under the Prohibition of Benami Property Transactions Act, 1988 (PBPTA), when a verification report proves the jewellery does not match the… Read More »
ITAT Hyderabad Dismissal of Appeal for Lack of Territorial Jurisdiction and Inability to Administratively Transfer to Cuttack Bench The Legal Issue Whether the Income Tax Appellate Tribunal (ITAT) has the power to transfer an appeal to another Bench at a different headquarters (e.g., Hyderabad to Cuttack) or whether an appeal filed in the wrong jurisdiction… Read More »
Section 205: Protection Against Double Taxation When Employer Defaults on TDS The Core Issue Can the Income Tax Department demand tax directly from an employee if their employer has deducted the tax from their salary but failed to deposit it with the Government? Facts of the Case (A.Y. 2020-21 & 2021-22) The Mismatch: The assessee’s… Read More »
Excess Interest Spread (EIS) Paid to Originators is Not Subject to TDS Under Section 194LBC The Legal Issue Whether a Securitisation Trust is required to deduct Tax Deducted at Source (TDS) under Section 194LBC on the payment of Excess Interest Spread (EIS) to the “originator” (the bank or NBFC that sold the loans to the… Read More »
Mandatory Claim in Return of Income for Section 80-JJAA Deductions (Section 80A(5)) The Legal Issue Whether a deduction under Section 80-JJAA (related to new employment generation) can be allowed if it was not claimed in the original or revised Return of Income (ITR), but was instead raised for the first time during appellate proceedings before… Read More »
Investment in Life Insurance Policy Treated as Unexplained Investment The Issue Whether a ₹50 lakh investment in a life insurance policy can be treated as unexplained investment under Section 69 when the assessee claims the funds belonged to a Hindu Undivided Family (HUF) but fails to provide documentary evidence. The Facts The Discovery: The Assessing… Read More »
Additions in Search Assessments (Section 153A) are Legally Unsustainable Without “Incriminating Material” Specifically Seized from the Assessee The Legal Issue Whether the Income Tax Department can make additions to an assessee’s income under Section 153A based on documents found during a search on third parties, especially when no “incriminating material” was found during the search… Read More »