Recent Post by the taxtalk
BSNL Ex-Gratia Scheme: ITAT Allows Full Exemption Despite 1400+ Days Delay – Big Relief for Taxpayers In a significant and taxpayer-friendly ruling, the Pune ITAT has delivered much-needed relief to individuals who opted for the BSNL revival scheme and ended up paying tax due to incorrect reporting. The decision clarifies a crucial issue: ex-gratia…
Ignoring binding precedent is not judicial independence-it is a mistake. ITAT can entertain Miscellaneous Application (MA) make rectification under Section 254(2) In tax litigation, one of the most underestimated yet powerful remedies is the Miscellaneous Application under Section 254(2) of the Income-tax Act. Many practitioners treat it as a limited rectification tool-but a recent landmark ruling…
Mechanical Approval u/s 151 & Wrong Jurisdiction: Reassessment Held Invalid by ITAT Delhi Reassessment under Section 147 of the Income Tax Act is not merely a procedural exercise-it requires strict compliance with jurisdictional conditions and statutory safeguards. In a significant ruling, the Delhi ITAT has once again reiterated that mechanical approval under Section 151 and assumption of…
Reassessment Cannot Become a Fishing Expedition: No Addition on Recorded Reason, No Valid Reopening Reassessment under Section 147 of the Income Tax Act is often a matter of intense litigation. A crucial legal principle has now been reiterated by the Delhi ITAT—if no addition is made on the issue for which reassessment was initiated,…
Tax Changes from 1 April 2026: Big Relief for Salaried Employees & Senior Citizens | Allowances, HRA & New Forms Explained From 1st April 2026, a series of important tax changes come into effect that directly impact salaried employees and senior citizens. These reforms focus on higher tax-free allowances, stricter documentation, and simplified compliance,…