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DRAT Upholds DRT’s Conditional Interim Order Requiring ₹20 Lakh Deposit, Dismisses Appeal [Read Order]

The Debt RecoveryAppellate Tribunal (DRAT), Kolkata, has dismissed an appeal and upheld an interim order of the Debt Recovery Tribunal, which had...

Rent-Free House Perquisite Formula Changes in Income Tax Rules Draft: 2011 Census and New Slab Rates

Employer Loan Tax Rule in Income Tax Rules Draft 2026: SBI Rate Method Explained

Income Tax Draft Rules 2026: New Limits Proposed for Employer Benefits Like Loans, Gifts and Free...

Company Car Perquisite Tax Value Set to Rise Under Income Tax Rules 2026

How NRI Income will be Determined: Key Takeaways from Income Tax Draft Rules

The Draft Income-tax Rules, 2026 propose 3 alternatives for determining taxableincome of non-residents in situations where the actual amount of income arising from India. Rule 9, dealing with...

ITAT Weekly Round-up

This weekly round-up encapsulates the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during the previous week, from January 27, 2025 to January 31, 2025. No S....

DRAT Defers PNB Housing Finance Move to Take possession of Mortgaged Property, Orders ₹20 lakh Deposit Within Two Weeks [Read Order]

To recover the amount, the bank filed an application under Section 14 of the SARFAESI Act before the Chief Judicial Magistrate, Tiruppur, seeking possession of the secured propertyThe Debt Recovery...

Waiver of SCN and Personal Hearing in Printed Form for Release of Goods by Customs Dept Invalid u/s 124: Delhi HC Directs Release [Read Order]

The New Delhi High Court held that the Customs Department cannot treat the printed form for release of goods containing a waiver of Show Cause Notice (SCN) or personal hearing, signed for seeking...

Who is an ‘Accountant’ for Purpose of Safe Harbour Rules? Income Tax Draft Rules provides Clarity

The Income Tax Draft Rules have clarified on who qualifies as an “accountant” for the purposes of Safe Harbour Rules, especially for the purposes of Rules 87 to 93. Under the Draft Rules, an...

Forms 3CA, 3CB & 3CD Replaced by New Tax Audit Form 26: Income Tax Act 2025

The government has released a Draft Form 26 under the Income-tax Act, 2025. This new draft form is proposed to replace the current tax audit reporting forms 3CA, 3CB and 3CD. As per the draft,...

Thailand Resident did not Conceal Gold Jewellery on Arrival: Delhi HC Holds Customs’ Confiscation, Duty and Penalty lacks Legal Foundation [Read Order]

The Delhi High Court held that the Thailand resident wearing gold jewellery, in the absence of concealment, does not violate the Baggage Rules, and further held that the order of confiscation, ...

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