Day: February 12, 2026

Clipped from: https://www.taxscan.in/top-stories/icai-issues-audit-guidance-on-new-labour-codes-1442883?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412899 The note highlights wage changes, wider worker coverage, gratuity updates, and compliance checks to manage audit risks in this transition The four Labour

Clipped from: https://www.taxscan.in/top-stories/supreme-court-upholds-gujarat-hc-ruling-quashing-mechanical-income-tax-reopening-notices-based-on-national-shroff-angadiya-search-inputs-read-judgement-1442879?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412908 The Supreme Court upheld the Gujarat High Court order quashing mechanical reopening notices issued under Section 148 based on National Shroff search inputs.

Clipped from: https://www.taxscan.in/top-stories/how-nri-income-will-be-determined-key-takeaways-from-income-tax-draft-rules-1442865?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412911 The trigger for estimation arises where the AO forms an opinion that the actual amount of income accruing or arising to a non-resident

Clipped from: https://www.taxscan.in/top-stories/income-tax-addition-solely-based-on-pendrive-data-seized-from-third-party-not-sustainable-itat-quashes-order-read-order-1442858?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412895 The materials that were retrieved from third parties are to be cross-examined before additions are made to income tax. ITAT deletes addition in

Clipped from: https://www.taxscan.in/top-stories/taxpayer-not-well-versed-with-income-tax-proceedings-itat-gives-final-opportunity-directs-compliance-read-order-1442855?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412872 ITAT offers one final opportunity to assessee for the submission of details. The cash deposits amounting close to INR 1.5 crore was treated

Clipped from: https://www.taxscan.in/top-stories/reassessment-notices-beyond-six-year-limitation-invalid-supreme-court-upholds-delhi-hc-1442853?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412906 Reassessment notice extended ten‑year period under Section 149 cannot revive assessments already barred under the earlier six‑year regime. Reassessment notice extended ten‑year period under

Clipped from: https://taxguru.in/income-tax/notices-u-s-148-issued-jao-invalid-due-mandatory-faceless-procedure-u-s-151a.html Exotic Innovations Private Limited Vs DCIT (Karnataka High Court) Conclusion: Once the Central Government notified the Faceless Scheme for reassessment (effective March 29, 2022),