All published analysis
24 pieces.
10 October 2026
Section 92CA: what a reference to the TPO cannot decide
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.
09 October 2026
Section 270AA after the Finance Act 2026: waiver in misreporting cases
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.
07 October 2026
Section 142A DVO reference: extending limitation under section 153
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.
03 October 2026
Is crypto abroad a foreign asset? Black Money Act and the 2026 window
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.
27 September 2026
Assessment on a company that no longer exists: nullity or curable defect?
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.
27 September 2026
Black Money Act: who it reaches, which year it charges, what it costs
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.
27 September 2026
Penny stock addition under section 68: no role in the price rigging
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.
27 September 2026
Section 153C: satisfaction note, block period and the 2021 sunset
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.
27 September 2026
Tax demand after a resolution plan: section 156A and the clean slate
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.
27 September 2026
Modified return under section 170A: giving effect to a scheme, and no more
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.
25 September 2026
TDS on property bought from an NRI: TAN no longer required
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.
23 September 2026
Conversion of a firm, company or LLP: the conditions that get breached
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.
23 September 2026
Firm and LLP reconstitution: section 9B, section 45(4) and the disputes
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.
22 September 2026
Slump sale taxation: section 50B, section 77 and the disputed issues
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.
21 September 2026
Section 32: does slump-sale goodwill depreciation survive 2021?
Depreciation on goodwill from a slump sale after the Finance Act 2021 bar: ITAT Mumbai allows it in Hi-Tech Radiators v DCIT.
19 September 2026
Section 149: is the fifty lakh seen at reopening or at the appeal stage?
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.
16 September 2026
On-money additions: what a seized cash book can and cannot prove
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.
16 September 2026
Section 153C time limit when the Assessing Officer is the same person
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.
12 September 2026
Family arrangement: not a transfer, until it is
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.
12 September 2026
Will, private family trust, LLP or HUF partition: the tax overlay
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.
10 September 2026
After an income tax search: from the panchnama to the block notice
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.
09 September 2026
Section 270A penalty: must the notice specify the limb?
Section 270A penalty notice: a penalty cannot be sustained unless the notice states whether the charge is under-reporting or misreporting.
07 September 2026
On-money addition without cross-examination: is it valid?
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.
17 August 2026
Which Act governs an appeal filed today?
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.
Analysis published here is general commentary on the law and is not advice on any matter. Positions stated reflect the law as at the date of writing.