Shagun money received on marriage of individual cannot be considered as income in the year of its receipt – ITAT In a recent judgment, ITAT has held that receipt of shagun money without consideration on the occasion of the marriage of the individual cannot be considered as the …
ITAT deleted addition towards cash deposited in bank account observing that there is no statutory requirement to maintain cash book for salaried individual. In a recent judgment, ITAT Delhi has deleted addition u/s 69A towards cash deposited in bank account and held that there is no statutory requirement …
RBI has notified the Foreign Exchange Management (Authorised Persons) Regulations, 2026. The Regulation becomes effective from 06.05.2026 A person seeking authorisation as an authorised person may apply to the Reserve Bank through the PRAVAAH portal (https://pravaah.rbi.org.in) to the regional office concerned of the Reserve Bank under whose jurisdiction …
ITAT allows benefit of increased exemption limit of Rs. 25 lakhs for Leave Encashment u/s 10(10AA)(ii) In a recent judgment, ITAT Lucknow has allowed benefit of increased exemption limit of Rs. 25 lakhs for Leave Encashment amount u/s 10(10AA)(ii) of Act holding that increased limit is applicable with …
Relief u/s 89(1) available even when arrears were received in addition to compensation for Voluntary Retirement – ITAT In a recent judgment, ITAT Pune has held that relief u/s 89(1) is available even though the assessee received the arrear in addition to compensation for Voluntary Retirement by the …
Husband’s income details can not be disclosed to wife under RTI Act being his personal information – High Court In a recent judgment, High Court has held that husband’s income details can not be disclosed to wife under the provisions of RTI Act being personal information not warranted …
