The dispute concerned restriction of leave encashment exemption to ₹3 lakh. The Tribunal allowed the full claim after applying the revised exemption limit of ₹25 lakh.
The ITAT held that leave encashment of ₹17.68 lakh qualified for exemption under Section 10(10AA) since it was within the revised ₹25 lakh ceiling. The appeal was allowed on the basis of the enhanced exemption limit.
The dispute concerned partial denial of leave encashment exemption under Section 10(10AA). The Tribunal granted relief after finding that the amount claimed fell within the revised exemption limit.
The assessee challenged the reduction of leave encashment exemption through a rectification order. The ITAT ruled that the absence of an opportunity of hearing necessitated fresh proceedings.
The ITAT allowed full exemption of leave encashment received on retirement after noting that the CBDT had increased the exemption ceiling to ₹25 lakh. The key takeaway is that claims within the revised limit are eligible for exemption.
ICAI notifies removal of 12 chartered accountants from membership rolls, with suspension periods, fines, and reprimands in select cases.
The Income Tax Act 2025 has merged old presumptive taxation provisions into a single Section 58 framework. The change simplifies compliance for businesses, professionals, and transport operators under one codified structure.
The RERA Act, 2016 introduced mandatory project registration, escrow safeguards, and consumer protection measures in India’s real estate sector. The law aims to improve transparency, accountability, and timely project delivery.
Reverse Charge Mechanism under GST is increasingly becoming technology-driven with stricter GSTN validations, reconciliations, and ITC monitoring. Businesses must strengthen reporting and compliance processes to avoid notices and credit disruptions.
Allahabad High Court set aside a GST refund rejection after the taxpayer was unable to upload an additional reply on the GST portal. The Court held that the portal must support supplementary replies to ensure proper adjudication and fair hearing.
