If the investment is yours, the exemption is yours—even if the property is registered in someone else’s name: Section 54F exemption allowed even if Property Registered in others name In a significant and practical ruling, the Tribunal has held that deduction under Section 54F cannot be denied merely because the new residential property is registered in…

Search Assessment u/s 153A Fails Without Fresh Incriminating Material | ITAT Strikes Down Additions Based on ED Evidence & Mechanical Approval u/s 153D   Search assessments under the Income-tax Act are often perceived as the strongest weapon in the hands of the tax department. However, a recent Tribunal ruling has once again reinforced a critical…

Incentives under the Package Scheme of Incentives in Maharashtra is taxable under the Income Tax Act The taxability of government subsidies has long been a debated issue under the Income-tax Act, but one principle continues to dominate the discussion-the “purpose test.” A recent Tribunal ruling has once again clarified that government subsidy not attributable to a specific asset…

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…