The department has identified high-risk cases across multiple assessment years and enabled reassessment action through the Insight portal.
The department has identified high-risk cases through its Insight Portal for AYs 2022-25. It directs officers to initiate reassessment proceedings based on risk analysis, emphasizing data-driven scrutiny.
SEBI examined whether WhatsApp chats can serve as proof of client instructions. It held they are valid if properly recorded, retrievable, and legally verifiable.
The guide clarifies when GST liability shifts to the recipient under RCM for GTA and renting services. The key takeaway is that correct classification and notification-based conditions determine tax liability.
CBDT introduced Income-tax Rules, 2026 to operationalize the Income-tax Act, 2025. The rules standardize procedures on valuation, reporting, and compliance across tax domains.
ITAT set aside the addition made under Section 68 due to incomplete verification of a large gift transaction. It remanded the case for fresh examination with proper evidence and opportunity.
The High Court upheld a ₹7 lakh addition after finding a major discrepancy between stock recorded in books and the inflated stock statement submitted to the bank.
Courts hold that one-time alimony is a capital receipt arising from extinguishment of rights and not taxable. The ruling clarifies limits on taxing matrimonial settlements.
The inspection report highlights deficiencies in audit documentation, independence monitoring and compliance with auditing standards. It stresses the need for stronger quality control systems and improved audit procedures.
The regulator found that the audit firm lacked an effective monitoring mechanism to ensure firmwide independence policies were properly implemented. It recommended stronger oversight and compliance checks.
