https://www.sunilmaloo.com/insights.html Analysis on direct tax litigation, search assessments and real estate tax disputes. en-in Mon, 12 Oct 2026 06:45:11 +0000 https://www.sunilmaloo.com/article-section-92ca-reference-tpo-jurisdiction-limits.html https://www.sunilmaloo.com/article-section-92ca-reference-tpo-jurisdiction-limits.html Sat, 10 Oct 2026 00:00:00 +0000 A reference under section 92CA is transaction-specific. It does not hand the Transfer Pricing Officer the power to decide whether a permanent establishment exists, whether a treaty applies, or what the assessee's taxable income is. This article sets out where the line falls, how the Gujarat position shifted, and what the Finance Act 2026 has taken away from the limitation argument. https://www.sunilmaloo.com/article-section-270aa-waiver-misreporting-finance-act-2026.html https://www.sunilmaloo.com/article-section-270aa-waiver-misreporting-finance-act-2026.html Fri, 09 Oct 2026 00:00:00 +0000 For nine years section 270AA offered immunity from penalty to everyone except the one class of assessee who needed it most. The Finance Act, 2026 removed that exclusion with effect from 1 March 2026 and put a price on it instead. The Bombay High Court has now applied the new provision, held that the grant is mandatory, and held that an assessee rejected under the old law may apply again. This sets out the rewritten section, who it reaches and who it does not, what it costs, how to complete the revised Form No. 68 the portal now serves, the questions it leaves unanswered, how far back it goes, and why the Income-tax Act, 2025 does something materially different. The bare text of both sections is annexed. https://www.sunilmaloo.com/article-section-142a-dvo-reference-limitation-section-153.html https://www.sunilmaloo.com/article-section-142a-dvo-reference-limitation-section-153.html Wed, 07 Oct 2026 00:00:00 +0000 A reference to the Departmental Valuation Officer stops the limitation clock and, through the sixty-day floor, can hand the Assessing Officer more time than the reference itself consumes. The Gujarat High Court has quashed one made a day before the assessment went time-barred. This sets out the power, the clock, the controls on both, and what the Income-tax Act, 2025 does with all of it. https://www.sunilmaloo.com/article-crypto-held-abroad-foreign-asset-disclosure-window.html https://www.sunilmaloo.com/article-crypto-held-abroad-foreign-asset-disclosure-window.html Sat, 03 Oct 2026 00:00:00 +0000 The 2026 foreign asset disclosure scheme closes on 31 December. Nothing in it mentions crypto, and whether a crypto holding is an asset located outside India is undecided. https://www.sunilmaloo.com/article-assessment-on-non-existent-entity-amalgamation.html https://www.sunilmaloo.com/article-assessment-on-non-existent-entity-amalgamation.html Sun, 27 Sep 2026 00:00:00 +0000 Spice to Maruti Suzuki to Mahagun Realtors, what section 170(2A) changed and what it did not, and why the answer almost always turns on whether the officer was told. https://www.sunilmaloo.com/article-black-money-act-assessee-year-of-charge-penalty-prosecution.html https://www.sunilmaloo.com/article-black-money-act-assessee-year-of-charge-penalty-prosecution.html Sun, 27 Sep 2026 00:00:00 +0000 Who is an assessee, which year an undisclosed foreign asset is charged in, what the penalties and prosecution cost, and the disclosure window closing 31 December 2026. https://www.sunilmaloo.com/article-penny-stock-section-68-no-role-in-price-rigging.html https://www.sunilmaloo.com/article-penny-stock-section-68-no-role-in-price-rigging.html Sun, 27 Sep 2026 00:00:00 +0000 When the addition on exempt long-term capital gain is deleted because nothing links the assessee to the manipulation: the contentions, the courts, and the section 69C rider. https://www.sunilmaloo.com/article-section-153c-jurisdiction-satisfaction-note-block-period.html https://www.sunilmaloo.com/article-section-153c-jurisdiction-satisfaction-note-block-period.html Sun, 27 Sep 2026 00:00:00 +0000 How a third party's search becomes your assessment: the satisfaction note, the date the six years run from, the incriminating material test, and the section 153D approval. https://www.sunilmaloo.com/article-section-156a-insolvency-resolution-plan-tax-demand.html https://www.sunilmaloo.com/article-section-156a-insolvency-resolution-plan-tax-demand.html Sun, 27 Sep 2026 00:00:00 +0000 What section 156A does and does not do once the NCLT approves a resolution plan, why the extinguishment comes from the Code and not from the Income-tax Act, and where the law is still open. https://www.sunilmaloo.com/article-section-170a-modified-return-business-reorganisation.html https://www.sunilmaloo.com/article-section-170a-modified-return-business-reorganisation.html Sun, 27 Sep 2026 00:00:00 +0000 The six-month window, the two versions of the section, and the Bombay High Court line holding that a modified return is not an invitation to scrutinise the year again. https://www.sunilmaloo.com/article-tds-property-purchase-nri-seller-no-tan.html https://www.sunilmaloo.com/article-tds-property-purchase-nri-seller-no-tan.html Fri, 25 Sep 2026 00:00:00 +0000 TAN is no longer required when a resident buys property from an NRI: a PAN-based Form No. 141 Schedule E replaces TAN and Form No. 144 from 1 October 2026. https://www.sunilmaloo.com/article-firm-llp-conversion-section-47-xiiib.html https://www.sunilmaloo.com/article-firm-llp-conversion-section-47-xiiib.html Wed, 23 Sep 2026 00:00:00 +0000 Firm to company, company to LLP, firm to LLP and LLP to company: which route carries an exemption, what its conditions are, and what the charge looks like when one of them fails. https://www.sunilmaloo.com/article-firm-llp-reconstitution-section-9b-section-45-4.html https://www.sunilmaloo.com/article-firm-llp-reconstitution-section-9b-section-45-4.html Wed, 23 Sep 2026 00:00:00 +0000 How a partner joining, leaving, diluting or selling a stake is taxed: the two separate charges, what the capital account must exclude, and where the law is still open. https://www.sunilmaloo.com/article-slump-sale-taxation-section-50b-section-77.html https://www.sunilmaloo.com/article-slump-sale-taxation-section-50b-section-77.html Tue, 22 Sep 2026 00:00:00 +0000 How a slump sale is taxed under section 50B and section 77: what an undertaking is, why net worth is not what a business is worth, and what breaks deals. https://www.sunilmaloo.com/article-section-32-goodwill-depreciation-slump-sale.html https://www.sunilmaloo.com/article-section-32-goodwill-depreciation-slump-sale.html Mon, 21 Sep 2026 00:00:00 +0000 Depreciation on goodwill from a slump sale after the Finance Act 2021 bar: ITAT Mumbai allows it in Hi-Tech Radiators v DCIT. https://www.sunilmaloo.com/article-section-149-fifty-lakh-reopening-or-appeal-stage.html https://www.sunilmaloo.com/article-section-149-fifty-lakh-reopening-or-appeal-stage.html Sat, 19 Sep 2026 00:00:00 +0000 Assessed escapement ran to crores. The addition that finally stood was a few lakh. ITAT quashed the reopening, measuring the fifty lakh on what survived. https://www.sunilmaloo.com/article-on-money-seized-cash-book-extrapolation.html https://www.sunilmaloo.com/article-on-money-seized-cash-book-extrapolation.html Wed, 16 Sep 2026 00:00:00 +0000 A seized cash book multiplied by 100, six years reopened on a search, and a Tribunal that quashed every year and then decided the merits anyway. https://www.sunilmaloo.com/article-section-153c-limitation-common-assessing-officer.html https://www.sunilmaloo.com/article-section-153c-limitation-common-assessing-officer.html Wed, 16 Sep 2026 00:00:00 +0000 Does the clock under the third proviso to section 153B(1) run from the section 127 order or from the satisfaction note? ITAT Delhi answers it. https://www.sunilmaloo.com/article-family-arrangement-not-a-transfer.html https://www.sunilmaloo.com/article-family-arrangement-not-a-transfer.html Sat, 12 Sep 2026 00:00:00 +0000 When a family settlement is treated as no transfer at all, when it is recharacterised as a sale, and what follows under sections 67 and 92. https://www.sunilmaloo.com/article-will-trust-llp-huf-partition-tax-overlay.html https://www.sunilmaloo.com/article-will-trust-llp-huf-partition-tax-overlay.html Sat, 12 Sep 2026 00:00:00 +0000 What each of the four succession vehicles actually costs in tax, what none of them costs, and the two limits that decide between them in practice. https://www.sunilmaloo.com/article-after-income-tax-search-panchnama-to-block-notice.html https://www.sunilmaloo.com/article-after-income-tax-search-panchnama-to-block-notice.html Thu, 10 Sep 2026 00:00:00 +0000 What happens after an income tax search under the Income-tax Act, 2025: the last panchnama, the clocks under ss.247–251, the block period, the s.294 notice, Form ITR-BN, 60% tax and 50% penalty. https://www.sunilmaloo.com/article-section-270a-penalty-specify-limb.html https://www.sunilmaloo.com/article-section-270a-penalty-specify-limb.html Wed, 09 Sep 2026 00:00:00 +0000 Section 270A penalty notice: a penalty cannot be sustained unless the notice states whether the charge is under-reporting or misreporting. https://www.sunilmaloo.com/article-on-money-cross-examination-153c.html https://www.sunilmaloo.com/article-on-money-cross-examination-153c.html Mon, 07 Sep 2026 00:00:00 +0000 On-money addition u/s 69: ITAT Mumbai holds a search-based addition on a buyer cannot stand without cross-examining the witness relied on. https://www.sunilmaloo.com/article-which-act-governs-your-appeal.html https://www.sunilmaloo.com/article-which-act-governs-your-appeal.html Mon, 17 Aug 2026 00:00:00 +0000 The Income-tax Act, 2025 has been in force since 1 April 2026. A good deal of commentary says appeals filed after that date run on the new Act. Section 536(2)(c) says otherwise.