Judgement

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

News

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.

Govt. Rationalises Due Dates for Furnishing ITRs and Extends Time Limit to File Revised Return

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

Starting from April 2026, the Minimum Alternate Tax (MAT) will not apply to certain non-resident businesses operating under presumptive taxation in India.

Budget 2026: MAT Relief for Non-Resident Businesses Operating Under Presumptive Taxation

Budget 2026: MAT Relief for Non-Resident Business Operating Under Presumptive Taxation

The government has proposed taxpayer-friendly amendments to updated return provisions, allowing loss reduction and filing after reassessment notices to promote voluntary compliance and reduce litigation.

Updated Income Tax Return Made More Taxpayer-Friendly; Changes Effective from April 2026

The capital exemption arising from the redemption of SGBs will be available only when the SGB is subscribed to by a subscriber at the time of original issue and is held continuously until maturity.

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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

Budget 2026: MAT Relief for Non-Resident Business Operating Under Presumptive Taxation

Updated Income Tax Return Made More Taxpayer-Friendly; Changes Effective from April 2026

Union Budget 2026-27: Govt Restricts Capital Gain Exemption on Sovereign Gold Bonds to Original Buyers