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Saturday, October 4, 2025

DCIT vs. Kohinoor Foods Ltd. (ITAT Delhi): Section 68, Bogus Purchases, and Accommodation Entries — A Critical Legal Analysis

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The Expanding Contours of Section 68 The Delhi ITAT ruling in Deputy Commissioner of Income-tax vs. Kohinoor Foods Ltd. marks a pivotal mom...

Late Filing of Income Tax Return (ITR) – Penalty, Interest, and Consequences for FY 2024–25 (AY 2025–26)

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Filing your Income Tax Return (ITR) within the prescribed due date is not merely a procedural requirement—it directly affects your ability t...
Friday, October 3, 2025

Preliminary vs Preoperative Expenses — Financial Statement & Income Tax Treatment for FY 2024–25 (AY 2025–26)

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 The distinction between preliminary and preoperative expenses often determines not only where they appear in the financial statements bu...

Guide to Post-Sale Discount ITC Compliance: Law, Impact, and Best Practices After CBIC’s Withdrawal Circular

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Effective 1 October 2025 , the CBIC, through Circular No. 253/10/2025-GST , has withdrawn Circular No. 212/6/2024-GST . This removes the ear...

Electric Vehicles Depreciation under the Income Tax Act, 1961 — The Ultimate Analytical Guide

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The classification of electric vehicles (EVs) for depreciation under Section 32 of the Income Tax Act, 1961, is a critical consideration f...
Thursday, October 2, 2025

RBI Directions on Settlement of Claims of Deceased Bank Customers (2025)

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 The loss of a family member is already a heavy emotional burden. What often adds to the distress is the long, uncertain process of accessin...