Judgement

The ITAT set aside assessment order after the AO failed to issue a draft assessment order under Section 144B, directing a fresh assessment after considering the assessee’s objections.

ITAT Holds Failure to Issue Draft Assessment Order Under Section 144B Invalidates Assessment Procedure

The ITAT quashed reassessment proceedings, holding that an unsigned Section 148 notice was invalid and could not confer jurisdiction on the AO. 

Section 148 Notice Without Manual or Digital Signature Invalidates Entire Reassessment Proceedings, Holds ITAT

News

Punjab Vigilance Bureau arrests Pathankot SHO Gulshan Kumar for allegedly accepting a Rs 1 lakh bribe as part of a Rs 2.5 lakh deal.

Punjab Vigilance Bureau Catches Pathankot SHO Red-Handed While Allegedly Accepting Rs 1 Lakh Bribe in Rs 2.5 Lakh Deal

The Income Tax Department has confirmed that cross-Tax Year challan correction functionality is under development on TRACES and will be available shortly, while clarifying the use of FY 2025-26 challans for TY 2026-27 TDS statements.

TRACES to Soon Permit Cross-Year Challan Corrections Amid New Income Tax Act Transition

Rashi Peripherals will pay Rs 1.67 lakh, including GST, after NSE rejected its penalty waiver request for SEBI listing regulation violations.

Rashi Peripherals Faces Rs 1.67 Lakh Fine After NSE Rejects Waiver Application for SEBI Listing Regulation Violations

SBI has disclosed the exposure of 3,897 customer records containing personally identifiable information on the dark web and initiated cybersecurity response measures and an independent investigation.

SBI Discloses Customer Data Leak on Dark Web, Identifies 3,897 Records Containing Personally Identifiable Information

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