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Legal Dispute Arises Over Insurance Claim Disallowance Following 2017 Industrial Fire
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Legal Dispute Arises Over Insurance Claim Disallowance Following 2017 Industrial Fire

A formal legal complaint has been filed by M/S Teekay Marines Pvt. Ltd. against M/S SBI General Insurance Company Ltd. regarding the disputed assessment of an insurance payout following a…
Posted by Prasenjit Bhowmik August 14, 2026
CBDT Introduces Form 49 for Simplified Electronic Safe Harbour Applications Starting April 2026
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CBDT Introduces Form 49 for Simplified Electronic Safe Harbour Applications Starting April 2026

The Central Board of Direct Taxes (CBDT) has announced the upcoming introduction of a unified tax document designated as Form 49, effective April 1, 2026. This new administrative instrument replaces…
Posted by Prasenjit Bhowmik August 14, 2026
Master File & Country-by-Country Report (CbCR): Forms 56, 57, 58, 59 & 60
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Master File & Country-by-Country Report (CbCR): Forms 56, 57, 58, 59 & 60

The Income Tax Department has officially introduced Forms 56, 57, 58, 59, and 60 to streamline the submission process for the Master File and Country-by-Country Report (CbCR). This regulatory update…
Posted by Prasenjit Bhowmik August 14, 2026
Jodhpur ITAT Rules Penny Stock LTCG Cannot Be Invalidated Without Direct Evidence
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Jodhpur ITAT Rules Penny Stock LTCG Cannot Be Invalidated Without Direct Evidence

In a notable legal development, the Jodhpur bench of the Income Tax Appellate Tribunal (ITAT) has ruled that long-term capital gains (LTCG) from penny stocks cannot be dismissed as bogus…
Posted by Prasenjit Bhowmik August 14, 2026
Hyderabad ITAT Rules in Favor of Section 80P Deduction Following Condonation of Delay
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Hyderabad ITAT Rules in Favor of Section 80P Deduction Following Condonation of Delay

In a recent ruling that brings relief to taxpayers, the Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has directed the Assessing Officer (AO) to reconsider a tax deduction…
Posted by Prasenjit Bhowmik August 14, 2026
Legal Proceedings Unfold in Consumer Court Involving Shubh Enterprises and HDFC Ergo
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Legal Proceedings Unfold in Consumer Court Involving Shubh Enterprises and HDFC Ergo

On August 11, 2026, official judicial records highlight ongoing legal proceedings involving M/S Shubh Enterprises and HDFC Ergo General Insurance Company, alongside other related respondents. The case, registered under consumer…
Posted by Prasenjit Bhowmik August 14, 2026
Legal Proceedings Challenged Following Tribunal Dismissal in Dental Implants India Case
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Legal Proceedings Challenged Following Tribunal Dismissal in Dental Implants India Case

On August 6, 2026, the legal representation for petitioner Pramod Sharma appeared before the judicial forum in a hybrid mode session to contest a previous judicial decision involving Dental Implants…
Posted by Prasenjit Bhowmik August 14, 2026
Customs Tribunal Issues Final Order in M B International vs C.C. Noida Case
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Customs Tribunal Issues Final Order in M B International vs C.C. Noida Case

On August 12, 2026, the customs tribunal located at the CONCOR Complex in Greater Noida issued Final Order No. 70281/2026 regarding a long-standing legal dispute. The case, designated as M…
Posted by Prasenjit Bhowmik August 14, 2026
Understanding the Income Tax Department's E-Verification Scheme and AIS
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Understanding the Income Tax Department’s E-Verification Scheme and AIS

The Income Tax Department utilizes an advanced E-Verification Scheme to cross-reference taxpayer data and identify discrepancies in filed returns. By leveraging the Annual Information Statement, tax authorities can systematically detect…
Posted by Prasenjit Bhowmik August 14, 2026
Consumer Commission Upholds Payout Order Against Life Insurance Corporation
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Consumer Commission Upholds Payout Order Against Life Insurance Corporation

A regional consumer disputes redressal forum has mandated a prominent life insurance provider to disburse a withheld policy amount alongside interest and compensation to a claimant. According to official reports,…
Posted by Prasenjit Bhowmik August 14, 2026

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