Income Tax Bulletin April 2026
Judicial Updates
- Interest on loan taken for investing in a subsidiary for expansion of business is an allowable expense:
- No separate Sec. 43CA adjustment if Assessee opts for Sec. 44AD presumptive tax & accepted by Revenue:
- Digital platform outside India defeats Fixed Place PE claim. Thus, commission is not taxable in India:
- Sales tax subsidy received under State Government scheme is a non-taxable capital receipt as ‘Purpose test’ prevails over any other test:
- Arrangement of sharing IPO costs between company & Assessee-seller is not a “colourable device”. Thus, allowable u/s 48(i):