Curated legal news, case breakdowns, and workflow tips for fast-moving practitioners.
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ITAT Kolkata ruled that purchases cannot be disbelieved when books are accepted and payments are made through banking channels. The Tribunal deleted the ₹12.73 crore Section 69C a…
ITAT rules that penny stock capital gains cannot be taxed under Section 68 without clear evidence of a nexus with price rigging. Suspicion alone is not enough. Judgment offers maj…
The Supreme Court has ruled that income tax returns filed after a person’s death are valid evidence in motor accident compensation cases. In the Ajmer accident case of Rajendra Si…
CBDT has launched the second phase of its NUDGE campaign, urging taxpayers to disclose foreign assets and overseas income. Using AEOI, CRS, and FATCA data, the tax authority is se…
ITAT Ahmedabad rules that a calculation mistake in claiming Section 54F exemption does not amount to tax misreporting. Tribunal quashes penalty under Section 270A, offering major …