Judgement

The ITAT held that a debatable issue relating to MAT book profit computation cannot be corrected through rectification under Section 154 and accordingly quashed the rectification order.

ITAT Quashes MAT Rectification Order; Debatable MAT Computation Cannot Be Revised u/s 154

Articles

As per the proposal, in the old tax regime, MAT payment will become the final tax, and the Companies will not get new MAT credit.

Budget 2026: Major Changes in MAT Provisions, no credit for MAT w.e.f 01.04.2026

News

The CBI arrested an Income Tax Department stenographer in Chennai after catching him red-handed while accepting a Rs. 1.5 lakh bribe to clear pending tax dues.

CBI Catches Income Tax Stenographer Red-Handed While Accepting Bribe of Rs. 1.5 Lakh in Chennai

These changes are aimed at reducing disputes and unnecessary litigation, especially for genuine delays with no revenue loss.

Budget 2026 proposes mandatory Late fees on Delayed Tax Audits and Transfer Pricing Report

Union Budget 2026-27 focuses on simplifying tax rules, reducing compliance costs, and driving growth and job creation without changing income tax rates.

Union Budget 2026-27 Focuses on Easier Tax Rules and Long-Term Relief for Middle Class

FM Proposes guidelines to be binding on income-tax authorities and persons liable to deduct or collect income tax.

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ITAT Quashes MAT Rectification Order; Debatable MAT Computation Cannot Be Revised u/s 154

Budget 2026: Major Changes in MAT Provisions, no credit for MAT w.e.f 01.04.2026

CBI Catches Income Tax Stenographer Red-Handed While Accepting Bribe of Rs. 1.5 Lakh in Chennai

Budget 2026 proposes mandatory Late fees on Delayed Tax Audits and Transfer Pricing Report

Union Budget 2026-27 Focuses on Easier Tax Rules and Long-Term Relief for Middle Class

Budget 2026: TDS/TCS Guidelines to Become Mandatory Under Income Tax Law