Mahesh Mara, Author at Faceless Compliance

Matching Principle Does Not Apply to Cash Accounting: Section 36(1)(iii) Disallowance Deleted — A Significant Relief for Taxpayers

By Mahesh Mara November 28, 2025UncategorizedNo Comments

Matching Principle Does Not Apply to Cash Accounting: Section 36(1)(iii) Disallowance Deleted — A Significant Relief for Taxpayers Facts of the Case In a recent tax dispute involving a finance…

Chhattisgarh High Court Rules: No Coercive Action in Fake ITC Cases When Taxpayers Cooperate

By Mahesh Mara November 28, 2025UncategorizedNo Comments

Chhattisgarh High Court Rules: No Coercive Action in Fake ITC Cases When Taxpayers Cooperate The Chhattisgarh High Court recently delivered an important judgment that offers relief to taxpayers who are…

CBDT Launches 2nd NUDGE Initiative to Improve Voluntary Compliance of Foreign Assets: A Step Toward Transparency and Responsible Tax Reporting

By Mahesh Mara November 27, 2025CBDT, CBDT Amnedment, Circulars, INCOME TAX, ITAT, ITR, Salaried Employees, Tax Audit, Tax CreditNo Comments

CBDT Launches 2nd NUDGE Initiative to Improve Voluntary Compliance of Foreign Assets: A Step Toward Transparency and Responsible Tax Reporting The Central Board of Direct Taxes (CBDT) has announced its…

ITAT Rules That Low Income of Investors Cannot Trigger Section 68 Addition: A Major Relief for Taxpayers

By Mahesh Mara November 26, 2025ITATNo Comments

ITAT Rules That Low Income of Investors Cannot Trigger Section 68 Addition: A Major Relief for Taxpayers The Income Tax Appellate Tribunal (ITAT) has once again clarified the scope of…

Joint Ownership Not a Barrier for Section 54F Exemption: ITAT Delhi Offers Major Relief to Taxpayers

By Mahesh Mara November 26, 2025ITATNo Comments

Joint Ownership Not a Barrier for Section 54F Exemption: ITAT Delhi Offers Major Relief to Taxpayers Section 54F of the Income Tax Act has always been a crucial provision offering…

Bombay High Court Condones Delay in Filing Form 10B Caused by Chartered Accountant’s Oversight

By Mahesh Mara November 25, 2025UncategorizedNo Comments

Bombay High Court Condones Delay in Filing Form 10B Caused by Chartered Accountant’s Oversight Timely filing of Form 10B is a mandatory requirement for charitable and religious trusts seeking exemption…

Section 68 Cannot Apply to Household Support from Husband: Detailed Analysis of ITAT Hyderabad Ruling

By Mahesh Mara November 25, 2025ITATNo Comments

Section 68 Cannot Apply to Household Support from Husband: Detailed Analysis of ITAT Hyderabad Ruling Household support between spouses is a normal and accepted part of family life. However, in…

Reassessment Orders Quashed When Notices Were Issued to a Deceased Assessee: A Comprehensive Legal Analysis

By Mahesh Mara November 25, 2025CBDTNo Comments

Reassessment Orders Quashed When Notices Were Issued to a Deceased Assessee: A Comprehensive Legal Analysis Reassessment proceedings under the Income-tax Act must strictly follow procedural requirements. One such fundamental requirement…

Set-Off of LTCL & STCL Against LTCG Cannot Be Denied Merely Due to Different Tax Rates: Detailed Analysis of Tribunal Ruling

By Mahesh Mara November 24, 2025UncategorizedNo Comments

Set-Off of LTCL & STCL Against LTCG Cannot Be Denied Merely Due to Different Tax Rates: Detailed Analysis of Tribunal Ruling Meta description (SEO): Tribunal rules that short-term and long-term…

Investments Already Accepted in Earlier Scrutiny Cannot Be Treated as Bogus u/s 68 on Sale: ITAT Kolkata Ruling Explained

By Mahesh Mara November 24, 2025ITATNo Comments

Investments Already Accepted in Earlier Scrutiny Cannot Be Treated as Bogus u/s 68 on Sale: ITAT Kolkata Ruling Explained The Income Tax Appellate Tribunal (ITAT), Kolkata, recently delivered an important…

Matching Principle Does Not Apply to Cash Accounting: Section 36(1)(iii) Disallowance Deleted — A Significant Relief for Taxpayers

Chhattisgarh High Court Rules: No Coercive Action in Fake ITC Cases When Taxpayers Cooperate

CBDT Launches 2nd NUDGE Initiative to Improve Voluntary Compliance of Foreign Assets: A Step Toward Transparency and Responsible Tax Reporting

ITAT Rules That Low Income of Investors Cannot Trigger Section 68 Addition: A Major Relief for Taxpayers

Joint Ownership Not a Barrier for Section 54F Exemption: ITAT Delhi Offers Major Relief to Taxpayers

Bombay High Court Condones Delay in Filing Form 10B Caused by Chartered Accountant’s Oversight

Section 68 Cannot Apply to Household Support from Husband: Detailed Analysis of ITAT Hyderabad Ruling

Reassessment Orders Quashed When Notices Were Issued to a Deceased Assessee: A Comprehensive Legal Analysis

Set-Off of LTCL & STCL Against LTCG Cannot Be Denied Merely Due to Different Tax Rates: Detailed Analysis of Tribunal Ruling

Investments Already Accepted in Earlier Scrutiny Cannot Be Treated as Bogus u/s 68 on Sale: ITAT Kolkata Ruling Explained

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