Articles by CA Varun Gupta

Section 271(1)(c) Penalty Disputes: Key Legal Analysis and Case Law

Posted by CA Varun Gupta

11 June 2025 1199 Views

This article highlights the legal necessity of such specification and the significant consequences that follow from its omission, drawing from both established judicial precedent and practical experience before appellate authorities.

Penalty Proceedings Must Be Deferred During Pendency of Quantum Appeal: Legal Framework and Judicial Guidance

Posted by CA Varun Gupta

06 June 2025 1240 Views

Understand why penalty proceedings under income tax law should be kept in abeyance when the quantum addition is under appeal. Learn legal precedents, practical guidance, and taxpayer rights.

Comparison of ITR-U (Section 139(8A)) and Condonation of Delay of ITR (Section 119(2)(b))

Posted by CA Varun Gupta

07 March 2025 894 Views

The Income Tax Act, 1961, provides different mechanisms for taxpayers to address missed deadlines for filing Income Tax Returns (ITR).

ITR-U - Belated Return u/s 139(8A): A Detailed Overview after Budget 2025

Posted by CA Varun Gupta

03 March 2025 2615 Views

The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This provision gives taxpayers an opportunity to correct errors or omissions in their previously filed returns, even after the prescribed deadlines have passed.

Missed Filing GSTR-9 or GSTR-9C for the Financial Years 2017 to 2023

Posted by CA Varun Gupta

27 February 2025 16421 Views

As per Notification No. 8/2025, the CBIC is offering a waiver of late fees for delayed GSTR-9C filings, provided the forms are submitted by March 31, 2025.

Condonation of Delay in ITR Filing u/s 119(2)(b) of the Income Tax Act, 1961

Posted by CA Varun Gupta

19 February 2025 2144 Views

The Income Tax Act, 1961 establishes specific timelines for the filing of income tax returns (ITR). However, taxpayers may encounter unexpected situations that lead to delays in meeting these deadlines.

Comprehensive Comparison of Section Numbers: Income Tax Act, 1961 vs. Income Tax Act, 2025

Posted by CA Varun Gupta

18 February 2025 7877 Views

To assist with this transition, the government has released a comparison chart that maps the sections of the Income Tax Act 1961 to their corresponding sections in the Income Tax Act 2025. This chart will be highly beneficial in helping you quickly locate the new sections if you remember the old section numbers.

Comprehensive Guide to Vivad Se Vishwas Scheme 2024: Insights from Circular No. 12/2024

Posted by CA Varun Gupta

25 December 2024 787 Views

Overview of the Vivad Se Vishwas Scheme 2024 (VSVS 2024) in accordance with Circular No. 12 of 2024, Dated October 15, 2024

New Process for Condonation of Delay in Filing Forms 9A, 10, 10B and 10BB: Key Highlights of Circular 16/2024

Posted by CA Varun Gupta

17 December 2024 1082 Views

In certain instances, due to unforeseen circumstances, the assessee or auditor may file the audit report for the trust in Forms 9A, 10, 10B, or 10BB after the due date. As a result, it has become a common practice for the IT Department to treat the receipt amount as income of the trust and levy tax on it.

Arbitrary Rejections of Section 154 Rectification Requests Challenge Taxpayers

Posted by CA Varun Gupta

16 December 2024 431 Views

The recent rejection of a rectification request under Section 154 of the Income Tax Act, 1961, by the Income Tax Department without providing any explanation has drawn criticism.