Latest updates for Finance Act 2021 Section 153C

Fresh curated links around Finance Act 2021 Section 153C are collected here so marketers can spot useful updates and turn timely ideas into posts faster.

Recent items include:

  • Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier:
  • Section 153C Cannot Be Invoked Mechanically: ITAT Jaipur Quashes Proceedings for Lack of Independent Satisfaction
  • Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms

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thetaxtalk.com /3 weeks ago

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier:...

Section 153C Cannot Be Invoked After 1 April 2021 for an “Other Person” Merely Because the Search Was Conducted Earlier: ITAT Bangalore   Landmark Ruling Clarifies That the Date of...

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thetaxtalk.com /1 month ago

Section 153C Cannot Be Invoked Mechanically: ITAT Jaipur Quashes Proceedings for Lack of Independent Satisfaction

Section 153C Cannot Be Invoked Mechanically: ITAT Jaipur Quashes Proceedings for Lack of Independent Satisfaction   AO Cannot Simply Copy the Satisfaction Note of the Searched Pers...

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thetaxtalk.com /1 month ago

Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms...

Section 263 Cannot Override Section 153A for Unabated Years Without Incriminating Material: Bombay High Court Reaffirms Abhisar Buildwell Principle   PCIT v. Surendra L. Hiranandan...

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thetaxtalk.com /3 weeks ago

CBDT turns its attention to Form 15CB – and to the Accountants who sign it

CBDT turns its attention to Form 15CB – and to the Accountants who sign it   On 18 August 2026, the Central Board of Direct Taxes announced a nationwide verification exercise into...

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blog.saginfotech.com /1 month ago

Govt Defends Section 43B(h), Rules Out Changes to MSME Payment Compliance

The Government has reiterated that Section 43B(h) of the Income Tax Act was introduced to encourage timely payments to Micro and Small Enterprises (MSEs) and address their long-sta...

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thetaxtalk.com /2 days ago

Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction

Section 54GB Exemption on Start-up Investment: ITAT Allows ₹1.48 Crore Deduction     Proportionate investment qualifies, extended deadline applies and there is no ₹50 lakh cap, say...

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thehindu.com /1 month ago

Centre brings amnesty scheme for PF Trusts to regularise their status

Recognition under the Income Tax Act, 2025 shall be available only to provident funds that have obtained exemption under Section 17 of the 1952 Act

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thetaxtalk.com /1 month ago

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Del...

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Delay in Filing Form 10-IC   A Landmark Judgment on “Genuine Ha...

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currentfederaltaxdevelopments.com /2 weeks ago

Reevaluating the Section 163(j) Interest Expense Limitation: Technical Insights from IRS Fact Sheet FS-2026-14

IRS Fact Sheet FS-2026-14 (Aug. 19, 2026); Internal Revenue News Release IR-2026-94 (Aug. 19, 2026) On August 19, 2026, the Internal Revenue Service (IRS) released Fact Sheet...

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businesstoday.in /1 month ago

ITR 2026: Filing TDS/TCS return for Q1? New forms, section codes and July 31 deadline explained

The first quarterly TDS and TCS return filing under the Income-tax Act, 2025 is due on July 31, 2026, with new return forms and section codes replacing the old framework. Here's wh...

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businesstoday.in /1 month ago

Section 10(14)(i) under new tax regime: Wrong claims can trigger income tax notices, warns tax expert

While taxpayers under the new tax regime have limited opportunities to claim exemptions, Section 10(14)(i) remains available for specified allowances provided by employers to meet...

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thetaxtalk.com /1 month ago

CBDT Tightens Scrutiny of Unexplained Income Additions: Fresh Directions Issued on Sections 68 to 69D and Section 115BBE

CBDT Tightens Scrutiny of Unexplained Income Additions: Fresh Directions Issued on Sections 68 to 69D and Section 115BBE     C&AG Audit Findings Trigger Administrative Push for...

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currentfederaltaxdevelopments.com /1 month ago

Unpacking the Saver’s Match: Technical Guidance and Operational Frameworks Under Notice 2026-48

Notice 2026-48, August 7, 2026 In division T of the Consolidated Appropriations Act, 2023, Pub. L. 117-328, 136 Stat. 4459 (2022), known as the SECURE 2.0 Act of 2022 (SECURE...

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thetaxtalk.com /2 weeks ago

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur

Section 43CA Cannot Be Applied to Land Sale Agreed Before Its Introduction: ITAT Jaipur   Where agreement to sell was executed before section 43CA came into force and substantial c...

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thetaxtalk.com /1 month ago

Is a Section 143(2) Notice Invalid If It Does Not Mention ‘Limited Scrutiny’ or ‘Complete Scrutiny’? ITAT Special Bench...

Is a Section 143(2) Notice Invalid If It Does Not Mention ‘Limited Scrutiny’ or ‘Complete Scrutiny’? ITAT Special Bench Says No One of the most frequently raised legal challenges i...

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blog.saginfotech.com /6 days ago

IT Department Introduces Form 1 for Reporting Undisclosed Foreign Assets Under FAST-DS 2026

Taxpayers who wish to declare undisclosed foreign assets or foreign-sourced income under the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS 2026) can file Form...

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thetaxtalk.com /2 weeks ago

Once an Inquiry Under Section 148A(a) Is Approved, the Assessing Officer Cannot Skip It: Chhattisgarh High Court Quashes...

Once an Inquiry Under Section 148A(a) Is Approved, the Assessing Officer Cannot Skip It: Chhattisgarh High Court Quashes Reassessment     Landmark Judgment Reinforces That the Stat...

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greaterkashmir.com /3 weeks ago

Govt rolls out foreign asset disclosure scheme for small taxpayers

The Income Tax Department on Saturday notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effe...

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pkf-francisclark.co.uk /1 month ago

What businesses need to know about the Finance Bill 2026-27

The post What businesses need to know about the Finance Bill 2026-27 appeared first on LLP Site.

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businesstoday.in /3 weeks ago

Foreign assets disclosure scheme: Who is eligible, what it means for small taxpayers & tax payable

The Foreign Assets of Small Taxpayers Disclosure Scheme (FAST-DS), 2026, is a one-time disclosure mechanism for eligible taxpayers who have either failed to report certain foreign...

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thetaxtalk.com /1 month ago

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts

No Tax, No Penalty: ITAT Mumbai Draws the Line on Section 270A Penalties for Charitable Trusts   The introduction of Section 270A of the Income-tax Act marked a significant shift i...

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currentfederaltaxdevelopments.com /1 month ago

Transitioning Foreign Tax Allocations and Implementing the Ten Percent Credit Disallowance Under Section 960(d)(4)

Section 898(c) Transition Rule for Allocating Foreign Taxes and Section 960(d)(4) Foreign Tax Credit Disallowance, REG-115145-25, July 31, 2026 The Department of the Treasury...

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thetaxtalk.com /1 month ago

Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order

Finance Act 2026 Cannot Revive Invalid Reassessment Notices: Telangana High Court Upholds ITAT Order Keywords: Finance Act 2026 reassessment, JAO reassessment notice, Faceless Asse...

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businesstoday.in /3 weeks ago

Foreign assets disclosure scheme opens today: Who can declare undisclosed assets and income?

FAST-DS opens on August 16, 2026, giving eligible taxpayers a one-time window to disclose certain undisclosed foreign assets and income. The scheme will accept declarations until D...

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Sources covering Finance Act 2021 Section 153C

blog.saginfotech.com

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thetaxtalk.com

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businesstoday.in

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currentfederaltaxdevelopments.com

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greaterkashmir.com

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pkf-francisclark.co.uk

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