• Income Tax

ITAT jurisdiction is decided by location of AO passing the impugned order

2 months ago

Location of the assessing officer who passed the order shall decide the jurisdiction of the Bench of the Tribunal In…

  • Income Tax

SC explains meaning/scope of reason to believe u/s 147 and change of opinion by AO

2 months ago

Supreme Court explains meaning and scope of “reason to believe” u/s 147 and when reopening can be said to be…

  • Income Tax

Registration u/s 12AB granted as activities fall under general public utility, if not education as claimed

2 months ago

ITAT directed registration u/s 12AB as activities of the trust fall under general public utility services if not falling fall…

  • Income Tax

How a loan amount was utilised wouldn’t constitute failure to discharge onus u/s 68

2 months ago

Utilisation of loan amount would not constitute failure to discharge onus caste u/s 68 in absence of any defect in…

  • Income Tax

No addition based on third party information in form of unsigned excel sheet – ITAT

2 months ago

Addition on the basis of third party information in form of unsigned excel sheet can not be sustained - ITAT…

  • Income Tax

Shagun money received on occasion of marriage not taxable income – ITAT

2 months ago

Shagun money received on marriage of individual cannot be considered as income in the year of its receipt - ITAT…

  • Income Tax

There is no statutory requirement to maintain cash book for salaried individual – ITAT

2 months ago

ITAT deleted addition towards cash deposited in bank account observing that there is no statutory requirement to maintain cash book…

  • RBI

Foreign Exchange Management (Authorised Persons) Regulations, 2026 notified

2 months ago

RBI has notified the Foreign Exchange Management (Authorised Persons) Regulations, 2026. The Regulation becomes effective from 06.05.2026  A person seeking…

  • Income Tax

Increased exemption limit of Rs. 25 lakhs for Leave Encashment is retrospective – ITAT

2 months ago

ITAT allows benefit of increased exemption limit of Rs. 25 lakhs for Leave Encashment u/s 10(10AA)(ii) In a recent judgment,…

  • Income Tax

Relief u/s 89(1) available even if arrears received on Voluntary Retirement

2 months ago

Relief u/s 89(1) available even when arrears were received in addition to compensation for Voluntary Retirement - ITAT In a…