Retail Sector Outlook (Q2 FY26): Early Festive Season and GST Cuts Drive Steady Growth The article provides a positive preview of the retail sector’s performance for the second quarter of the fiscal year 2026 (Q2 FY26), forecasting steady growth for certain segments, primarily enabled by two factors: the early onset of the festive season and… Read More »
Corruption Scandal: Uttarakhand GST Busts Tax Evasion Racket Involving High-Ranking Official The Uttarakhand Goods and Services Tax (GST) Headquarters exposed a major tax evasion racket that led to the involvement of a high-ranking official within the department itself. Key Details of the Incident Official Implicated: The corruption scandal involves an official at the Joint Commissioner… Read More »
Non-Resident Taxpayer Wins at ITAT: Demand Reduced from ₹2.28 Crore to ₹63,000 The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, provided major relief to a non-resident taxpayer by substantially reducing the tax demand from ₹2.28 crore to a mere ₹63,000. The ruling was based on rectifying fundamental errors in the application of the India-Japan Double… Read More »
Government Mulls Policy to Limit Tenure and Pay for Consultants The article reports that the government is considering a new policy framework aimed at limiting the tenure and capping the remuneration (pay) for consultants hired across various government ministries and departments. Key Proposed Limits Maximum Tenure: The central proposal is to cap the engagement period… Read More »
Major Victory: ITAT Rules in Favor of Maruti Suzuki in Large Old Tax Dispute Maruti Suzuki India Limited (MSIL) has secured a significant victory as the Income Tax Appellate Tribunal (ITAT) delivered a favorable ruling for the company in a long-standing tax dispute involving substantial additions made by the Income Tax Department for three past… Read More »
CBIC Orders Vigilance Probe into Chennai Customs Bribery Allegations The Central Board of Indirect Taxes and Customs (CBIC) has initiated a vigilance inquiry into serious bribery claims made against officials of the Chennai Customs department by an importer, Wintrack Inc. Key Allegations and Action Taken Importer’s Claim: The importer, Wintrack Inc., alleged that Chennai Customs… Read More »
ITR REFUND PROCESSING रिफंड लेने वालों के लिए बुरी खबर ! REASON FOR DELAY IN INCOME TAX REFUND !
Autonomous AI Agent: CodeMender Revolutionizes Software Security with Self-Validated Patching. Architecture and Core Functionality CodeMender functions as a highly sophisticated agentic system built on advanced reasoning models (like Gemini Deep Think) and robust toolchains. Multi-Agent Design and Tooling CodeMender utilizes a modular, multi-agent architecture where specialized components handle different parts of the… Read More »
Supplementary FAQs for the Finance Bill 2025 FAQ.1: Amendment of Section 9A of the Income-tax Act, 1961 Q.1. At present what are conditions for participation or investment in the corpus of eligible investment fund by persons resident in India, as per section 9A of the Incometax Act, 1961? Ans. At present, section 9A(3)(c) of the… Read More »
ITAT Quashes Assessment as Mandatory Notice u/s 143(2) was Issued by a Different AO Brief Facts of the Case The case concerns the assessee, Yashbir Singh, for the Assessment Year 2017-18. The assessee challenged the validity of the assessment order dated 25th December 2019, on a fundamental legal ground. The core issue was a jurisdictional… Read More »