Judgement

Court disposes batch of SLPs arising from Punjab & Haryana HC rulings quashing Section 148 notices issued outside faceless regime

SC Allows Revenue to Seek Review Before HC on Faceless Reassessment Notices Issued by JAO

News

Govt. proposes to expand the 50% HRA exemption list to four more cities under the old tax regime to reflect rising urban housing costs and provide greater relief to salaried employees.

Income Tax HRA Exemption: Government expands Number of cities for 50% Deduction

Articles

One of the major changes proposed is the renumbering of income tax forms which all taxpayers must be aware of.

Draft Income Tax Rules 2026: What are Major Income Tax Forms Renumbered as per new Act

ITAT allowed deduction of Rs. 50.91 lakh interest expense under Section 57 after finding a clear link between the borrowed funds and the interest income earned.

Interest Expenditure Allowable u/s 57 Against Income from Other Sources

ITAT allowed the assessee’s Rs. 2 lakh Section 80GGC deduction, holding that the department failed to prove the donation was bogus or that any cash was returned.

ITAT allows Deduction for Donation to Political Party, Dismisses ACIT Appeal for Lack of Evidence

As per the new regulation, taxpayers submitting FTC claims through Form 44 must now receive a verification by a certified chartered accountant.

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SC Allows Revenue to Seek Review Before HC on Faceless Reassessment Notices Issued by JAO

Income Tax HRA Exemption: Government expands Number of cities for 50% Deduction

Draft Income Tax Rules 2026: What are Major Income Tax Forms Renumbered as per new Act

Interest Expenditure Allowable u/s 57 Against Income from Other Sources

ITAT allows Deduction for Donation to Political Party, Dismisses ACIT Appeal for Lack of Evidence

Draft IT Rules, 2026: CA Verification Required for Foreign Tax Credit