27 Nov 2025, 05:55 pm
Income Tax - Disability Pension, Exemption, Refund, Limitation, Interest - The petitioner, a retired Lt. Col. of the Indian Army, sustained serious spinal injuries due to a fall during an operation in 1985. He was granted disability pension in 2018 with retrospective effect from 2006. The petitioner...
Income Tax - Transfer Pricing, Corporate Guarantee, Interest Income - The assessee is engaged in manufacturing camshafts. The assessee filed its return of income for AY 2021-22 and the case was selected for scrutiny. The transfer pricing officer (TPO) proposed an adjustment of Rs.21.46 lakhs on acco...
Income Tax - Sub-contract expenses, Royalty, Difference in Gross receipts - The assessee is a partnership firm engaged in the business of civil contracts, mainly of government departments and government undertakings. The Assessing Officer (AO) made additions to the assessee's income under sections 6...
Income Tax - Revision of assessment order, disallowance of expenses, allocation of expenses between tonnage and non-tonnage divisions - The assessee company was involved in towage, berthing and un-berthing of ships, tug operations, comprehensive port management services and related services. The ass...
Income Tax - Disallowance of business expenses, Verification of warranty provision, Disallowance of employees' provident fund contribution - The assessee, an industrial crane manufacturer, filed appeals against orders passed by the CIT(A) which had upheld various disallowances made by the Assessing ...
Notification No. 62/2024 | 18-Jul-2024
Amendment to Notification No. 51/2021/F. No. 370142/43/2020-TPL , dated the 5th May, 2021
Notification No. 03/2025 | 17-Oct-2025
Approval of M/s Institute of Advanced Medical Research & Innovations Forum for Scientific Research under Section 35(1)(iia) of the Income Tax Act, 1961
Notification No. 155/2025 | 27-Oct-2025
Delegation of concurrent powers to the Commissioner of Income Tax, CPC Bengaluru for Rectification of Mistakes U/s 154 and issuance of Notices U/s 156 of Income Tax Act, 1961
Notification No. 02/2025 | 17-Oct-2025
Approval of M/s Mazumdar Shaw Medical Foundation for Scientific Research under Section 35(1)(iia) of the Income Tax Act, 1961
Notification No. 63/2024 | 18-Jul-2024
Amendment to Notification No. 52/2021/F. No. 370142/42/2020-TPL , dated the 5th May, 2021
Circular No. 15/2025 | 29-Oct-2025
Extension of timelines for filing of various reports of audit and Income Tax Returns (ITRs) for the Assessment Year 2025-26
F.No.225/215/2018/ITA-II | 21-Oct-2025
C&AG performance Audit report No.1 of 2019 on "Assessment of assesses in entertainment sector" - Verification of expenses in assessment of Entertainment sector
Circular No. 14/2025 | 25-Sep-2025
Extension of timelines for filing of various reports of audit for Financial Year 2024-25 (relevant to Assessment Year 2025-26) by auditable assessees
Circular No. 13/2025 | 19-Sep-2025
Waiver of Interest under Section 220(2) on Delayed Demand Payment Due to Incorrect Claim of Rebate under Section 87A - Order under section 119 of the Income-tax Act, 1961
Circular No. 12/2025 | 15-Sep-2025
Extension of due date for filing of ITRs for the Assessment Year 2025-26

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  • vivek
    05-Nov-2025
    The expenses incurred during a ‘no-income period’ would be considered as allowable u/s 37(1) of ITA’61 or 34(1) of ITA’25
    As per both ITA’61 and ITA’25 the position remains the same that any expenditure laid out or expended wholly and exclusively for the purposes of...
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