Articles by Vivek Jalan

AO Cannot Make Ad-Hoc Disallowances Without Evidence: Key Income Tax Ruling Explained

Posted by Vivek Jalan 07 August 2026 50 Views

ITAT rulings clarify that AOs cannot make ad hoc expense disallowances without evidence, while taxpayers must prove business purpose and commercial expediency for claiming deductions under the Income Tax Act.

Supreme Court on Section 153C: Substance Over Technicalities in Income Tax Proceedings

Posted by Vivek Jalan 06 August 2026 627 Views

The Supreme Court's ruling in ITO vs. Vikram Sujitkumar Bhatia clarifies the scope of Section 153C, emphasizing legislative intent over technical objections and strengthening the Revenue's power to act on incriminating material found during searches.

Section 92C(2): 5% Tolerance Benefit Available Even with a Single Comparable, Rules ITAT

Posted by Vivek Jalan 05 August 2026 32 Views

ITAT Kolkata rules that the benefit of the ±5% tolerance band under Section 92C(2) is available even when only one comparable remains in the transfer pricing analysis, provided the variation falls within the prescribed limit.

No Capital Gains on Agricultural Land Under Section 2(14): Key Legal Position Explained

Posted by Vivek Jalan 03 August 2026 6570 Views

Does agricultural land attract capital gains tax? Learn why agricultural income or farming activity is not mandatory under Section 2(14)(iii), with ITAT Ahmedabad's ruling in Meghdeep Farms Pvt. Ltd. and key tax implications explained.

PMLA Scanner for CAs, CSs & CMAs: Compliance Explained

Posted by Vivek Jalan 22 July 2026 720 Views

Practising CAs, CSs & CMAs are now under the PMLA scanner. Understand key compliance obligations, including due diligence & reporting, for financial transactions.

Section 153A: No Additions to Completed Assessments Without Incriminating Material

Posted by Vivek Jalan 09 July 2026 1427 Views

Discover how Section 153A protects completed tax assessments. Learn why incriminating material is essential for any additions post-search.

CBDT Monetary Limits for Income Tax Appeals

Posted by Vivek Jalan 12 June 2026 154 Views

Understand CBDT's monetary limits for filing income tax appeals at ITAT, High Court & Supreme Court. Learn when appeals are filed based on tax impact.

Angel Tax Explained: Exemptions & Rule 11UA Changes

Posted by Vivek Jalan 11 June 2026 99 Views

Understand Angel Tax exemptions for startups and foreign investors, plus Rule 11UA amendments and the impact of Section 56(2)(viib) omission.

Trusts & Forms 10A, 10AB, 10BD, 10BE: CBDT Circular 6/2023

Posted by Vivek Jalan 09 June 2026 265 Views

Understand CBDT Circular 6/2023 for Trusts. Discover extended deadlines for Forms 10A, 10AB, 10BD, 10BE and crucial clarifications on donations and audits.

India Tax Exemption for Govt Securities: FIIs & BIS

Posted by Vivek Jalan 08 June 2026 142 Views

New Ordinance exempts FIIs & BIS from tax on Govt securities income & capital gains. Boosts foreign investment & forex reserves in India.