The Tribunal confirmed that licence fees for use of immovable property fall under house property income. It emphasized that once included in computation, the same amount cannot be added again.
CBIC has operationalised capacity-based excise duty on specified tobacco goods from February 2026. The update outlines declarations, monthly filings, inspections, and abatement rules.
The post-2021 regime makes limitation a jurisdictional threshold, not a curable defect. Notices issued beyond time are void regardless of merits, reinforcing finality in assessments.
The UK overhauled crypto promotion laws after widespread misleading ads. Only FCA-approved firms can now market cryptoassets.
The 2026 FEMA Regulations replace the fragmented 2015 framework with a single, consolidated regime for goods and services. The key takeaway is simplified compliance and stronger monitoring of foreign exchange flows.
The Tribunal held that a penalty order issued after the death of the assessee is void ab initio. Since notices were not served on legal heirs, the penalty under section 271AAC was set aside.
The Tribunal held that additions based solely on third-party GST information and suspicion cannot be sustained without independent investigation, restricting estimation to 1% of sales.
The Tribunal ruled that compensation and hardship allowance received during redevelopment are capital receipts and cannot be taxed as income from other sources.
Holding in favour of the assessee, the Tribunal clarified that explained capital supported by documentary proof cannot be treated as unexplained income.
The ruling clarifies that Rule 46A is not breached when additional evidence is remanded but the Assessing Officer fails to respond. Relief granted by the CIT(A) in such cases remains valid.
