News

The Income Tax Department has made Form 1 under FAST-DS 2026 available on the e-filing portal, allowing eligible taxpayers to voluntarily disclose previously undisclosed foreign assets and income by Dec 31, 2026.

Undisclosed Foreign Assets? Income Tax Department Activates Form 1 under FAST-DS 2026 on E-Filing Portal

Judgement

Gujarat HC quashed a Section 179 tax recovery order after authorities failed to consider the former director’s reply and supporting documents.

High Court Quashes Tax Recovery Order Against Former Company Director, Says Authorities Failed to Consider Reply and Supporting Documents

The ITAT Bench has set aside a Rs 11.48 crore addition on securities and mutual fund transactions, directing the AO to conduct a fresh assessment after proper verification and a meaningful hearing.

ITAT Sets Aside Rs 11.48 Crore Capital Gains Addition, Remands Case for Fresh Adjudication After Finding Lack of Hearing Opportunity

The ITAT Bangalore holds registration under Karnataka Souharda Sahakari Act does not bar Section 80P benefit.


ITAT Holds Karnataka Souharda Sahakari Eligible for Section 80P Deduction on Credit Facility Income

The ITAT Bangalore held BSNL VRS compensation qualifies for Section 10(10B) exemption.


ITAT Allows Section 10(10B) Exemption on BSNL VRS Compensation 

ITAT dismissed the appeal as withdrawn after the assessee opted not to pursue its challenge against the Rs. 77.64 lakh unexplained cash credit addition for AY 2017-18.

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Undisclosed Foreign Assets? Income Tax Department Activates Form 1 under FAST-DS 2026 on E-Filing Portal

High Court Quashes Tax Recovery Order Against Former Company Director, Says Authorities Failed to Consider Reply and Supporting Documents

ITAT Sets Aside Rs 11.48 Crore Capital Gains Addition, Remands Case for Fresh Adjudication After Finding Lack of Hearing Opportunity

ITAT Holds Karnataka Souharda Sahakari Eligible for Section 80P Deduction on Credit Facility Income

ITAT Allows Section 10(10B) Exemption on BSNL VRS Compensation

ITAT Allows Withdrawal of Appeal Challenging Rs. 77.64 Lakh Unexplained Cash Credit Addition in Scrap Sale Deposits Case