Month: July 2026

ICAI to take disciplinary action for quoting very low and incommensurate fee by Chartered Accountants As per the announcement made by ICAI, it has decided that wherever the fee quoted by a Chartered Accountant or the CA firm is extremely low and is not commensurate with the size, …

Requirement for filing Form 67 for claiming Foreign Tax Credit (FTC) is only directory and not mandatory – ITAT In a recent judgment, ITAT Allahabad has reiterated that requirement for filing Form 67 for claiming Foreign Tax Credit (FTC) is only directory and not mandatory, recourse to provisions …

Limitation for invoking revisional jurisdiction u/s 263 with respect to issues not covered in re-assessment would start from the original Assessment Order – ITAT In a recent judgment, ITAT has held that limitation for PCIT to invoke revisionary jurisdiction u/s 263 of the Income Tax Act, 1961 (the …