Judgement

ITAT ruled that an inadvertent clerical error in selecting the 5% cash transaction option under Section 44AB cannot, by itself, render an income tax return invalid and remanded the matter to the AO for verification.

Income Tax Return Cannot Be Declared Invalid Over Clerical Error in Section 44AB Audit Option, Clarifies ITAT

News

The GSTAT allowed Technocraft Ventures Limited's appeal, setting aside the Rs. 3.43 crore tax and penalty demand, holding the proceedings time-barred.

GSTAT Deletes Rs 3.43 Crore Demand Against Technocraft Ventures After Tax Authorities Fail to Prove Fraud or Suppression

ITAT holds that the AO cannot make additions on unrelated issues when no addition is made on the grounds recorded for reopening the assessment.

AO Cannot Make Addition on Unrelated Issue When No Addition Is Made on Grounds Recorded for Reopening Assessment: ITAT

Notifications

The RBI has amended the FEMA Export and Import Regulations, 2026, introducing a definition of resident individuals and clarifying deemed submission of the EDF based on payment-related information furnished to authorised dealer banks.

RBI Introduces Second Amendment to FEMA Export and Import Regulations, Effective October 1, 2026

Honda India Power Products received a Customs show-cause notice for FY20, but expects no financial or operational impact and will attend a hearing on November 11, 2026.

Honda India Power Products Gets Customs SCN for FY20; Says No Financial Impact Expected

The CBI Court convicted a UP Irrigation Department Junior Engineer for Child Sexual Abuse and Exploitation Material (CSAEM) electronically, sentencing them to three years.

CBI Court Sentences UP Irrigation Department Junior Engineer to RI for 3 Years in Child Sexual Abuse Material Case

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