AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The ITAT ruled that the Principal Commissioner of Income Tax (PCIT) cannot revise an assessment based on a deduction that the taxpayer never claimed. This decision clarifies the limitations of PCIT's powers in assessment revisions.
The RBI Governor met with representatives from export organizations to discuss strategies for enhancing exports and strengthening industry relationships.
The RBI has released a calendar for Treasury Bills issuance covering the next quarter, providing key dates for investors to strategically plan their investments.
The RBI has announced the auction of Treasury Bills, including various tenors, which highlights ongoing financial strategies by the government to optimize funding avenues.
The Pune ITAT declined to condone a significant delay in appealing a Section 12AB rejection citing insufficient justification.
This ruling affirms that minor typographical errors in tax audit reports cannot invalidate PF deductions.
The ITAT found that mortgages do not automatically invoke taxation under Section 56(2)(x) if solely for registration purposes.
The ITAT ruled that an old Section 12A certificate loss does not justify denial of Section 12AB registration.
Approval granted to the University of Hyderabad for scientific research tax benefits for 2026-27 to 2030-31.
The Central Board of Direct Taxes (CBDT) has approved recognition for public health research for tax benefits from 2026-27 to 2030-31.
This informative piece outlines the necessary steps for senior citizens to file Income Tax Returns (ITR), including exemptions and common pitfalls.
This article provides insights on who can apply for advance rulings, the related fees, and the transition from the AAR to the Board for Advance Rulings under the Income-tax Act.
The CESTAT Kolkata held that an actual user requirement in a DGFT Public Notice cannot apply to transferable DFIA imports. The ruling permits exemptions and the revalidation of expired DFIAs.