Supreme Court of Indiatax
No Tax Deduction: Form 15G and Form 15H Declarations
Eligible non-corporate taxpayers and senior citizens can avoid TDS on specified incomes by submitting Form 15G or Form 15H, subject to conditions.
Jun 9, 2026Read more →
Legal News & Insights
AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
Tax Law News
Supreme Court of Indiatax
Taxability of Perquisite in Rent-Free or Concessional Employee Accommodation
The rules on perquisites in rent-free or concessional employee accommodations include TDS exemptions under specified conditions. Taxpayers must ensure compliance with these regulations.
Jun 9, 2026Read more →
Supreme Court of Indiatax
High-Value Transactions Can Trigger Income Tax Notices Due to ITR Mismatch
Tax authorities monitor large cash transactions and discrepancies between declared income and transactions can trigger scrutiny. Taxpayers must align their declared income with transaction volumes to avoid notices.
Jun 9, 2026Read more →
Income Tax Appellate Tribunaltax
ITAT Remands Co-operative Society’s s.80P Deduction Dispute
The ITAT has directed the CIT(A) to reassess a co-operative society's claim regarding Section 80P deductions, emphasizing the need for substantiation of the claim. This ruling addresses the treatment of ₹19.37 lakh taxed as income from other sources.
Jun 8, 2026Read more →
Income Tax Appellate Tribunaltax
Penalty Deleted for Lack of AO Satisfaction: ITAT
The ITAT has deleted a penalty under Section 271D of the Income Tax Act, ruling that the Assessing Officer failed to record requisite satisfaction for initiating proceedings.
Jun 6, 2026Read more →
Income Tax Appellate Tribunaltax
Loan Confirmations Insufficient to Prove Creditworthiness: ITAT
The ITAT has ruled that mere loan confirmation letters do not suffice to establish the creditworthiness of creditors for unsecured loans, and cases must be remanded for further verification.
Jun 6, 2026Read more →
Income Tax Appellate Tribunaltax
Absence of Formal Gift Deed Does Not Render Transaction Unexplained: ITAT
The ITAT held that the absence of a formal gift deed does not justify income tax addition under Section 69 when investment sources are substantiated through bank records.
Jun 6, 2026Read more →
CBICtax
CBIC Revises Customs Tariff Values for Oils and Brass Scrap
CBIC has updated tariff values for palm oil, soybean oil, and brass scrap effective from 30 May 2026, while maintaining existing values for gold and areca nuts.
Jun 3, 2026Read more →
N/Atax
Government Notifies Customs Duty Concessions for Imports from Oman
Customs Duty and Agriculture Infrastructure Development Cess concessions introduced for specified imports from Oman effective 1 June 2026, aimed at encouraging trade.
Jun 3, 2026Read more →
Tribunaltax
Modular Kitchen Baskets Not Classifiable Under Furniture Heading
The Tribunal ruled that modular kitchen products maintain their identity as household articles and should not be classified as furniture. Customs demands based on such a classification were overturned.
Jun 3, 2026Read more →
Income Tax Appellate Tribunaltax
Grants Received Must Be Relevant Yearly for Tax Exemption
The ITAT clarified that only grants received in the relevant year count for exemption under Section 10(23C)(iiiab), excluding cumulative grants from prior years.
Jun 2, 2026Read more →
Income Tax Appellate Tribunaltax
ITAT Allows Deduction for Interest on Security Deposits Linked to Loan
The ITAT permitted a deduction claim on interest earned from security deposits associated with a loan to Andhra Bank, asserting it pertains directly to the business activity.
Jun 2, 2026Read more →
N/Atax
June 2026 Compliance Calendar for Income Tax, GST, and MCA
The compliance calendar for June includes critical deadlines for TDS payments, GST returns, and annual company-law reporting requirements, essential for practitioners to monitor.
Jun 2, 2026Read more →