Google AI Subscriptions 2026: Features in Plus, Pro, & Ultra Tiers Google AI Subscriptions 2026: Features in Plus, Pro, & Ultra Tiers Following the major platform overhaul at Google I/O 2026, Google completely restructured its subscription matrix, shifting away from standard daily prompt caps to a dynamic “compute-used” usage model. Under this framework, your quota… Read More »
General penalty under Section 125 cannot be imposed if specific late fee under Section 47 applies. Issue Whether the revenue department can legally impose a general penalty under Section 125 of the CGST/SGST Act for the late filing of an annual return when a specific late fee provision under Section 47 is already applicable. Facts… Read More »
Income Tax Digest 23.5.2026 Section(s) Case Law Title Brief Summary Citation Relevant Act Section 40(a)(ia) ACIT vs. Orbit Ventures Developers Expenditure that is capitalized to Work-in-Progress (WIP) and not claimed in the Profit & Loss account cannot be disallowed under section 40(a)(ia) in the current year. It can only be adjusted within the WIP itself.… Read More »
Refund adjustment based on portal demands without a valid assessment order is completely illegal. Issue Whether the revenue department can legally sustain an outstanding demand on the ITBA portal and adjust refunds under section 245 in the absence of an available or served assessment order and a notice of demand under section 156. Facts For… Read More »
Waived working capital loan is a non-taxable capital receipt and its reopening constitutes a review. Issue Whether reassessment proceedings initiated beyond four years are legally valid when the Assessing Officer’s belief of income escaping assessment is based entirely on the balance sheet and tax computation records originally submitted by the assessee. Whether the waiver of… Read More »
BSNL Voluntary Retirement Scheme compensation qualifies as fully exempt retrenchment compensation under Section 10(10B). Issue Whether ex-gratia compensation received by employees under the BSNL Voluntary Retirement Scheme, 2019 can be classified as retrenchment compensation exempt under section 10(10B) instead of being limited by the section 10(10C) cap. Facts The assessees were employees of Bharat Sanchar… Read More »
Tribunal rules in favor of assessee on brand fees, discounts, and book profit adjustments. Issue Whether the Assessing Officer can increase a disallowance under section 14A read with Rule 8D if the assessee’s suo motu disallowance was accepted in earlier years. Whether brand equity fees paid under an undisputed agreement are allowable as revenue expenditure… Read More »
Additions for bogus purchases from the Bhanwarlal Jain group are restricted to six percent. Issue Whether the revenue department can sustain a 100 percent addition for alleged bogus purchases under section 69C when the Tribunal has consistently restricted the disallowance to 6 percent in identical matters involving accommodation entries from the same group. Facts For… Read More »
Agricultural Land Sale Exemption Claim Can Be Made Via Revised Computation If Supporting Evidence Is Already On Record Issue Whether the tax authorities can reject an exemption claim on the sale of agricultural land solely because it was raised during assessment proceedings via a revised computation instead of a formal revised return, even when the… Read More »
Revenue can appeal expatriate employee remuneration allowance as previous non-challenge was an inadvertent omission. Issue Whether the revenue department is barred by the principles of consistency, estoppel, and acquiescence from challenging the allowability of remuneration paid to expatriate employees for the assessment years 2020-21 and 2021-22, solely because it inadvertently failed to appeal the same… Read More »