HRA exemption and home loan deductions operate under separate sections of the Income Tax Act. Taxpayers may claim both under the old tax regime if the arrangement is genuine.
Employees changing jobs may face additional tax at filing because each employer deducts TDS independently. The demand usually reflects a TDS shortfall, not double taxation.
The ROC Kolkata held that possessing more than one Director Identification Number violates Section 155 of the Companies Act, attracting penalties under Section 159. Directors must ensure that only one valid DIN is maintained at all times.
The Authority found that a pre-selected donation mechanism added charges unless consumers actively opted out, impairing informed choice and constituting an unfair trade practice.
The Tribunal held that generalized investigation reports cannot substitute for concrete evidence against an assessee. Since the transactions were supported by documents and no direct evidence of undisclosed income existed, the addition was deleted.
A comprehensive review of significant developments across Income Tax, GST, Customs, DGFT, SEBI, MCA, IBBI, and RBI. The update highlights important judicial decisions and regulatory changes issued during 25–31 May 2026.
The Supreme Court held that adjudicatory proceedings cannot survive when authorities rely on undisclosed material or deny meaningful hearing. The ruling reinforces that procedural fairness is a constitutional requirement, not a mere formality.
The assessee had fully disclosed the share transactions and claimed exemption under Section 10(38) in the original return. The ITAT ruled that reopening was unsustainable because the reasons recorded did not demonstrate how any income had actually escaped assessment.
Many taxpayers assume that income up to Rs. 12 lakh is completely tax-free under the new regime. The key takeaway is that Section 87A provides a rebate, not an exemption, and tax may still arise on special-rate income.
Section 65 empowers GST authorities to conduct audits of registered taxpayers based on risk and compliance parameters. Understanding audit procedures, timelines, and taxpayer rights can help avoid disputes and unnecessary litigation.
