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Re-examining Intangibles Transfer Pricing in India: DEMPE, Comparability, and the Gaps in the 2025 Legislative Overhaul
OverviewIndia’s framework for transfer pricing, especially in the context of intangible assets, is under considerable scrutiny as the nation’s economic landscape changes and global tax standards evolv...
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Major Overhaul: Combining Forms 15G/15H into Form 121 under the Income Tax Act, 2025
1. Major Overhaul: Combining Forms 15G/15H into Form 121 under the Income Tax Act, 2025Effective from April 1, 2026, the Income Tax Department has consolidated Forms 15G and 15H into a unified self-de...
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Understanding the Maximum Marginal Rate (MMR) Under the Income-tax Act, 2025
Introduction: Rationale Behind Maximum Marginal RateThe Income-tax Act, 2025, incorporates the concept of the Maximum Marginal Rate (MMR) as a safeguard against tax avoidance strategies, particularly...
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Reconsidering Remand of Section 68 Additions by Tribunals When the Legal Framework Is Clear
Background and Legal ContextSection 68 of the Income-tax Act, 1961 (also corresponding to section 102 of the Income-tax Act, 2025) addresses unexplained credits in the books of an assessee. The Income...
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Section 247 of the Income Tax Act, 2025: Digital Search Powers, Constitutional Concerns, and Reform Directions
Introduction: From Physical to Digital LocksThe Income Tax Act, 2025, which took effect on April 1, 2026, marks a watershed moment in India’s tax enforcement by extending the reach of search and seizu...
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Reassessment Limits and Return Filing Requirements for Foreign Portfolio Investors under Indian Income Tax Law
Overview: Distinct Tax Regime for Foreign Portfolio Investors (FPIs)Foreign Portfolio Investors (FPIs) represent a unique class of non-resident investors who participate in Indian securities markets u...
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Retrospective and Prospective Application of the Prohibition of Benami Property Transactions Act, 1988: Perspectives Post-Manjula v. D.A. Srinivas
OverviewThe question of whether a law operates backward (retrospectively) or only forward (prospectively) is central to its constitutional validity and practical justice, especially regarding anti-ben...
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Capital vs. Revenue Receipts in Infrastructure SPVs: Principles, Tests, and Practical Guidance
OverviewThe division between capital receipts and revenue receipts is fundamental in Indian income tax law, with significant consequences for taxability. The Income Tax Act, 1961, does not explicitly...
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Major Overhaul in Claiming DTAA Relief: Compulsory E-Filing of Form 41 under India’s Income-tax Act, 2025
1. Introduction: Paradigm Shift in Compliance for Non-ResidentsNon-resident assessees and foreign companies earning income from Indian sources have historically relied on Double Taxation Avoidance Agr...
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Understanding the Liquidity Drag of Withholding Tax in GIFT City Cross-Border Debt Structures
1. Introduction: GIFT City’s Tax Advantages and the Hidden Liquidity ChallengeGujarat International Finance Tec-City (GIFT City) has become an attractive hub for international banking activities due t...
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The Necessity of Proper Authentication in Income Tax Penalty Notices – Post-2026 ITAT Ruling
Overview: Jurisdictional Impact of Unsigned Penalty Notices(i) Authentication as the Basis of Penalty ProceedingsThe issuance of a penalty notice under Section 274 of the Income-tax Act, 1961, forms t...
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Section 270A Penalty Jurisdiction in India: Evolving Doctrines, Unresolved Issues, and a Practical Checklist
Introduction: Procedural Flaws Overshadowing Substantive DefaultsSection 270A of the Income-tax Act, 1961, introduced by the Finance Act, 2016, effective from 1 April 2017, marked a significant depart...
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Re-examining the Tax Audit Mandate When Declaring Lower Profits Under Presumptive Taxation
OverviewSection 63 of the Income-tax Act, 2025 (ITA 2025) requires assessees engaged in business or profession to have their books of accounts audited if their gross turnover or receipts cross a speci...
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Survey Provisions under the Income Tax Act, 2025: A Comparative Analysis with the 1961 Act
Income-tax Survey under Section 253 of the Income Tax Act, 2025: Key Changes from Section 133A of the 1961 ActThe Income Tax Act, 2025 has recast the law relating to income-tax surveys through section...
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Charitable and Religious Trusts: Interpreting Section 13(1)(b) in Light of the Jamia Osman Bin Affan Education Society Case
Introduction: Exemption Framework for Charitable and Religious TrustsSection 335 of the Income-tax Act, 2025 (formerly Section 11 of the Income-tax Act, 1961) provides exemption for the income of trus...
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Reassessment Notices Issued to Deceased Assessees: Conflicting Approaches in Recent Delhi High Court Rulings on Section 148A
Introduction: Evolving Legal Landscape on Reassessment Proceedings Against the DeceasedThe legal framework governing reassessment actions under Sections 147, 148, and 148A of the Income Tax Act, 1961,...
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The Role of Adjudication in Indian Tax Tribunals
1. Introduction: The Role of Adjudication in Indian Tax Tribunalsi) Foundations of Tax AdjudicationThe Indian tax adjudication framework is grounded in the key values of impartiality, natural justice,...
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Section 153C Satisfaction Note: The Foundational Jurisdictional Principle and Its Persistent Defects
Introduction: The Crucial Role of Satisfaction Notes in Section 153C ProceedingsSection 153C of the Income-tax Act, 1961 establishes a mechanism for assessing individuals connected to a person subject...
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Private Discretionary Trusts and Section 56(2)(x) – Interpreting ‘Solely for the Benefit of Relatives’
OverviewSection 56(2)(x) of the Income-tax Act, 1961, serves as a broad anti-abuse tool by taxing any receipt of money or property without adequate consideration as ‘income from other sources’. This p...
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Indirect Transfers under Indian Income Tax Law
1. Overview: Indirect Transfers under Indian Income Tax Lawi) Genesis and IntentThe Indian Income-tax Act, 2025, through its indirect transfer provisions, aims to tax offshore transactions that effect...