2026 – Page 64 – smeaccountant

ITAT Ruling Provides Crucial Relief for Trusts Facing Section 11(2) Exemption Denials

ITAT Ruling Provides Crucial Relief for Trusts Facing Section 11(2) Exemption Denials

A New Procedural Path for Charitable TrustsThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling providing a procedural lifeline to charitable trusts that have failed to file Form…

Prasenjit Bhowmik May 30, 2026

ITAT Rules BSNL VRS Compensation Fully Exempt from Income Tax

ITAT Rules BSNL VRS Compensation Fully Exempt from Income Tax

In a significant legal victory for thousands of former employees, the Income Tax Appellate Tribunal (ITAT) ruled this week that compensation received under the Bharat Sanchar Nigam Limited (BSNL) Voluntary…

Prasenjit Bhowmik May 30, 2026

The Taxability of Standing Timber: Navigating GST Implications in Forest Auctions

The Taxability of Standing Timber: Navigating GST Implications in Forest Auctions

Understanding the Tax Status of Forest AuctionsThe Goods and Services Tax (GST) landscape for forest auctions has undergone significant clarification, with tax authorities and judicial bodies increasingly focusing on the…

Prasenjit Bhowmik May 30, 2026

Supreme Court Stays Allahabad High Court Ruling on GST Portal Communication Standards

Supreme Court Stays Allahabad High Court Ruling on GST Portal Communication Standards

Supreme Court stays Allahabad High Court's ruling on GST portal communication, impacting tax appeal deadlines and procedural norms nationwide.

Prasenjit Bhowmik May 30, 2026

ITAT Ruling Clarifies Section 54F Relief for Property Acquisitions

ITAT Ruling Clarifies Section 54F Relief for Property Acquisitions

ITAT's new ruling offers significant relief for taxpayers, clarifying Section 54F property acquisition timelines even with delayed registration.

Prasenjit Bhowmik May 30, 2026

ITAT Limits Rectification Powers: Section 154 Cannot Overturn Debatable Section 80P Deductions

ITAT Limits Rectification Powers: Section 154 Cannot Overturn Debatable Section 80P Deductions

ITAT rules Section 154 cannot overturn debatable Section 80P deductions, safeguarding taxpayers from rectification of opinion changes.

Prasenjit Bhowmik May 30, 2026

ITAT Pune Ruling Offers Relief to Non-Profits Over Form 10AB Filing Errors

ITAT Pune Ruling Offers Relief to Non-Profits Over Form 10AB Filing Errors

ITAT Pune's ruling brings relief to non-profits, declaring Form 10AB clause errors as curable defects, ensuring continued tax registration.

Prasenjit Bhowmik May 30, 2026

ITAT Pune Clarifies Legal Standing of Assessments Against Deceased Taxpayers

ITAT Pune Clarifies Legal Standing of Assessments Against Deceased Taxpayers

ITAT Pune clarifies that tax assessments initiated during a taxpayer's lifetime remain valid post-death, requiring reassessment in the legal...

Prasenjit Bhowmik May 30, 2026

ITAT Rules Technical Errors in ITR Filing Do Not Void Section 80P Deductions

ITAT Rules Technical Errors in ITR Filing Do Not Void Section 80P Deductions

Discover how a new ITAT ruling protects Section 80P deductions for cooperative societies despite minor technical ITR filing errors.

Prasenjit Bhowmik May 30, 2026

ITAT Rules Against Automatic Rejection of Chapter VI-A Deductions Following Filing Errors

ITAT Rules Against Automatic Rejection of Chapter VI-A Deductions Following Filing Errors

ITAT rules against automatic rejection of Chapter VI-A deductions for tax return errors, ensuring fair assessment and verification.

Prasenjit Bhowmik May 30, 2026