Reassessment Notice Set Aside as Reopening Based on Third-Party Seized Documents Lacks Nexus With Assessee Issue Whether a reassessment notice issued under Section 148 to tax alleged “on-money” can be sustained when it is based entirely on third-party seized documents that lack any direct or indirect connection to the assessee or the land sold. Facts… Read More »
No Section 43CA Addition Allowed as Variation Between Sale Consideration and DVO Valuation Falls Within Ten Percent Safe Harbour Margin Issue Whether the 10% safe harbour tolerance margin under the proviso to Section 43CA of the Income-tax Act must be applied to the property valuation determined by the Departmental Valuation Officer (DVO) once it replaces… Read More »
Commission Income Recalculated on Bogus Turnover with Demonetization Cash Additions Safely Deleted Issue Whether commission income on bogus circular transactions should be recomputed at 1% on the correct turnover figure with telescoping allowed against the net income offered in the return. Whether unexplained cash deposits made during the demonetization period should be deleted if they… Read More »
Purchasing flats in third-party names with self-provided funds constitutes a valid, actionable benami transaction. Issue Whether the provisional attachment of four flats under the amended Benami Act is valid where the appellant paid the consideration but registered the properties in third-party names, even if the initial allotment occurred prior to the 2016 amendment. Facts The… Read More »
[VIDEO] ITR PROCESSING UPDATE AY 2026-27! INCOME TAX REFUND STATUS
Starbucks Retires Failed AI Inventory Tool After Nine-Month Deployment Starbucks Retires Failed AI Inventory Tool After Nine-Month Deployment In a telling reminder of the gap between artificial intelligence hype and real-world execution, Starbucks has officially terminated an AI-powered inventory tracking program. The tool was retired just nine months after being deployed across its North American… Read More »
AI Token Trap: Microsoft and Uber Cancel Claude Licenses Over Surging Costs The Bill for “Vibe Coding” Arrives: Microsoft and Uber Burn Through AI Budgets The reality of the artificial intelligence boom is hitting enterprise finance teams hard. While agentic AI tools have been widely praised for accelerating software development, reports indicate they are becoming… Read More »
“India Different Country Today”: Sarvam AI Co-Founder on AI Sovereignty Moving Beyond the Pilot: Ericsson Partners with SAP to Transition from AI Experimentation to Enterprise Execution At the SAP Sapphire 2026 event in Madrid, SAP announced a massive enterprise milestone: Swedish telecommunications giant Ericsson is scaling its artificial intelligence capabilities across its global operations. By… Read More »
The Gemini app becomes more agentic, delivering proactive, 24/7 help The Gemini app becomes more agentic, delivering proactive, 24/7 help Gemini is becoming a more helpful AI assistant, with an intuitive new UI, proactive daily briefs and Gemini Spark, an agent to help you get things done around the clock. It’s been a banner year… Read More »
Meet Gemini Omni Meet Gemini Omni #GoogleIO #GoogleGemini Step into the Omni-verse ✨ Meet Gemini Omni, our new model that can create anything from any input, starting with video. 🎸 Swap out backgrounds to place yourself in the clouds 🎨 Apply wild new styles and built-in templates to your footage 🎞️ Keep your characters consistent… Read More »