In considering disallowance u/s 40A(2) for payments to specified persons, genuineness of expenditure is not a relevant issue. In a recent judgment, ITAT Lucknow has held that when a disallowance u/s 40A(2) of towards payments made to specified persons is under consideration, the genuineness of the expenditure is …

Expression “Yes I am satisfied” in approval u/s 151 not such a vital defect on the basis of which, re-opening could be quashed In a recent judgment, ITAT Chandigarh has held that expression “Yes I am satisfied” while granted approval under section 151 not such a vital defect …

Section 143(1) Intimation is only an intimation and it cannot be treated as an order for the purpose of Section 264 of Income Tax Act. In a recent judgment Hon’ble Kerala High Court has held that Section 143(1) Intimation is only an intimation and it cannot be treated …

Order u/s 127 quashed as PCIT having jurisdiction over non corporate assesee could not have transferred case of a corporate assessee to another AO In a recent judgment ITAT has quashed assessment as PCIT having jurisdiction over non corporate assesee could not have assumes jurisdiction to transfer a …

DGFT issues modalities for eligibility, receipt and processing of applications for issuance of authorizations for export of wheat flour and related products under HS Code 1101 Directorate General of Foreign Trade has issued Public Notice No. 44 /2025-26 Dated: 16th January 2026 notifying the following modalities for eligibility, receipt …

No obligation to deduct tax at source u/s 195 on the commission paid to non-resident foreign commission agent not liable to pay tax in India – ITAT In a recent case, ITAT Agra has held that there was no obligation for the assessee to deduct tax at source …