News

The passage of the Finance Bill 2026 in the Lok Sabha marks a significant milestone toward finalising India’s Rs 53.47 lakh crore Union Budget for FY 2026-27.

Lok Sabha Passes Finance Bill 2026 for FY 2026-27; Rajya Sabha Approval Awaited

Judgement

The High Court quashes a reassessment notice issued beyond the surviving limitation period under Supreme Court rulings.

Reassessment Notice Quashed as Issued Beyond Surviving Limitation Period

ITAT granted the assessee another opportunity by setting aside ex parte orders, subject to a Rs 10,000 cost, despite earlier non-cooperation.

ITAT imposes Cost on Taxpayer for Non-Cooperation during Income Tax Proceedings

Articles

The high-risk transaction cases are assigned to Jurisdictional Assessing Officers (JAO), while the non-PAN cases are assigned to the Pr. CCIT (CCA).

Income Tax Department Flags High-Risk Transactions on Insight Portal

The Income Tax Department initiates RMS Cycle 6 to identify and take action against high-risk non-filers for AY 2022-23 through the Insight Portal.

Income Tax Department takes action against High Risk Non-ITR filer Cases (AY 2022-23) on Insight Portal

Cummins India won a tax appeal for AY 2014-15, with authorities deleting Rs 8.38 crore additions. The decision grants about Rs 2.85 crore relief and removes the earlier tax demand.

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Lok Sabha Passes Finance Bill 2026 for FY 2026-27; Rajya Sabha Approval Awaited

Reassessment Notice Quashed as Issued Beyond Surviving Limitation Period

ITAT imposes Cost on Taxpayer for Non-Cooperation during Income Tax Proceedings

Income Tax Department Flags High-Risk Transactions on Insight Portal

Income Tax Department takes action against High Risk Non-ITR filer Cases (AY 2022-23) on Insight Portal

Cummins India Receives Rs 2.85 Crore Tax Relief With No Financial Impact