Income Tax
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Key Judicial Pronouncements – Mechanical Approvals in Section 148 Notices
- May 10, 2025
- Posted by: Amit Mundhra CA
- Category: Income Tax Cases
2 Comments
This article covers important court judgments where reassessment notices under Section 148 were struck down due to mechanical approvals under Section 151. It highlights how courts are emphasizing the need for independent satisfaction rather than rubber-stamp approvals, with detailed case law analysis from Delhi, Bombay, and Gujarat High Courts.
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Taxation of Crypto Futures in India – A Complete Analysis
- May 4, 2025
- Posted by: Amit Mundhra CA
- Category: Income Tax
This article explains why crypto futures are not classified as Virtual Digital Assets (VDAs) and are instead likely to be taxed as speculative income. Learn how income from crypto futures is treated under Section 43(5), how it differs from the 30% VDA tax under Section 115BBH, and what deductions and set-offs are allowed under Indian tax law.
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Reassessment Under Section 148 – Old vs New Regime: Life After the Rajeev Bansal Verdict
- April 20, 2025
- Posted by: Amit Mundhra CA
- Category: Income Tax Cases
What happens when the Income Tax Department issues reassessment notices under Section 148 without following the proper law? This article explains the key changes under the old and new reassessment rules, the Supreme Court’s verdict in Rajeev Bansal, and how recent ITAT rulings are cancelling time-barred or invalid notices.
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Income Tax Scrutiny Notice Reply | How to Respond to Section 143(2) and 142(1) Notices
- April 13, 2025
- Posted by: Amit Mundhra CA
- Category: Income Tax
Received an income tax scrutiny notice? This step-by-step guide explains how to understand the notice, prepare your reply, and submit documents professionally—so you can handle the process with clarity and confidence.
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FAQs: How to Reply to Notice Under Section 133(6) of the Income Tax Act, 1961
- March 22, 2025
- Posted by: Amit Mundhra CA
- Category: Income Tax
Received a notice under Section 133(6) of the Income Tax Act? This detailed FAQ guide helps you understand why it was issued, how to respond properly, what penalties apply for non-compliance, and why email communication is now critical in handling such income tax matters. Stay informed, respond confidently, and avoid unnecessary trouble.
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Cryptocurrency Taxation Rules in India
- March 9, 2025
- Posted by: Amit Mundhra CA
- Category: Income Tax
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Why you should consult a CA before filing your income tax return?
- June 5, 2023
- Posted by: Amit Mundhra CA
- Category: Income Tax
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9 Steps to take after receiving income tax demand notice
- May 28, 2023
- Posted by: Amit Mundhra CA
- Category: Income Tax
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What are the rates of income tax in old regime and new regime for AY 2024-25?
- May 26, 2023
- Posted by: Amit Mundhra CA
- Category: Income Tax
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What are the rates of income tax in old regime and new regime for AY 2023-24
- May 25, 2023
- Posted by: Amit Mundhra CA
- Category: Income Tax