Judgement

Transfer pricing, Corporate guarantee, R&D deduction, Section 35(2AB), DSIR approval, Rule 10CA, Consistency principle

ITAT Ahmedabad deletes major TP additions, limits R&D deduction to DSIR approval

News

Proposed tax changes will exempt the foreign income of eligible non-residents visiting India for the first time to work on government-notified schemes from April 2026.

Big Relief for NRIs: Foreign Income to Remain Tax-Free When Working on Govt Schemes from 2026

The Finance Minister, Nirmala Sitharaman, in the Union Budget 2026, proposed a major change to make GIFT City more competitive.

Budget 2026: Govt Proposes to Extend Deduction Period for Units in IFSC

ITAT Delhi holds that inadequate enquiry is not lack of enquiry; plausible AO view cannot be substituted under Section 263

PCIT’s Section 263 revision quashed where AO had made due enquiries on alleged bogus purchases

The government has proposed replacing certain income-tax penalties with mandatory fees to simplify compliance, reduce disputes, and provide certainty for technical delays.

Govt. Proposes to Shift Certain Penalties into Mandatory Fees Under Income Tax Law from AY 2026-27

The government has simplified ITR compliance by extending return-filing due dates for certain taxpayers and increasing the time limit for filing revised returns to 12 months from AY 2026-27.

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ITAT Ahmedabad deletes major TP additions, limits R&D deduction to DSIR approval

Big Relief for NRIs: Foreign Income to Remain Tax-Free When Working on Govt Schemes from 2026

Budget 2026: Govt Proposes to Extend Deduction Period for Units in IFSC

PCIT’s Section 263 revision quashed where AO had made due enquiries on alleged bogus purchases

Govt. Proposes to Shift Certain Penalties into Mandatory Fees Under Income Tax Law from AY 2026-27

Big Relief for Taxpayers: Govt Extends ITR Due Dates and Revised Return Timeline