Silver futures surged on import duty hike rumours, creating an unprecedented premium. The issue highlights risks of information leakage and the need for swift regulatory ...

The court set aside reassessment proceedings after finding doubt over valid service of notices. Failure to ensure proper communication denied the assessee a fair ...

The decision underscores that ignoring audited disclosures, ledgers, and salary records violates principles of natural justice. Once actual payment is proved, gratuity deduction must be ...

The issue was whether utilisation of corpus donations for expenditure converts them into taxable income. The Tribunal held that corpus retains its exempt character when used as per donor directions ...

The tribunal held that penalty under Section 270A cannot be levied where the assessee voluntarily withdrew the education cess claim after a retrospective amendment. A bona fide claim made on ...

The issue was whether reassessment after three years was barred by limitation. The Tribunal held it valid since the escaped income exceeded ₹50 lakh, attracting the extended reopening ...

ITAT held that when the same property valuation has been accepted in co-owners’ cases, a contrary view cannot be taken for another co-owner. Consistency in tax treatment is ...

The Tribunal clarified that confirmation of a Section 14A read with Rule 8D disallowance does not automatically justify penalty. Independent findings showing inaccurate particulars or concealment are ...

Unauthorised documents claiming official guidance are being circulated among professionals and auditees. The advisory clarifies these communications are false, have no legal standing, and must not be ...

The notification exempts specified grant and interest income from tax. The benefit is conditional on non-commercial activities and proper return ...

The notification exempts specified non-commercial e-governance income such as government grants, service charges, and consultancy receipts from tax. The key takeaway is that exemption applies only if ...

A consultation paper proposes expanding sustainable finance rules in GIFT IFSC. It introduces sustainable deposits and stronger governance for green lending and ...