ITAT Surat ruling: Retired employee wins leave encashment tax dispute over ₹8.02 lakh exemption claim
The ruling highlights the importance of following due process before the tax authorities modify an already processed income tax return
The ruling highlights the importance of following due process before the tax authorities modify an already processed income tax return
A taxpayer who constructed a new house before selling his old residential property has won a case against the tax department. In its 3 August 2026 order in Raj Kumar vs ITO, ITA No. 3396/Del/2026, the ITAT Delhi quashed the reassessment after finding that the Section 148 notice was issued beyond the permissible limitation period….
Petrol and diesel prices remain unchanged across most Indian cities on 25 October. However, CNG prices have increased in several cities, adding to daily travel costs. In New Delhi, petrol costs ₹102.12 per litre, while diesel costs ₹95.20 per litre. Mumbai residents pay ₹111.21 per litre for petrol and ₹97.83 per litre for diesel. Kolkata’s…
SINGAPORE: The yen surged on Tuesday, while Asian markets struggled for direction as a mixed batch of regional economic data and fresh Iranian threats in the Persian Gulf drove oil prices and bond yields higher. Japan’s Nikkei 225 fluctuated between gains and losses before edging up 0.2%, as the yen jumped as much as 0.6%…
Oil prices hit a two-month high on Wednesday as concerns over further supply disruptions grew after U.S. forces launched strikes on Iranian military targets for an 11th consecutive night, while Kuwait said it was dealing with attacks by Iranian drones. Crude oil price on July 22 Brent crude prices crossed the mark of $92 a…
Central government employees and pensioners are awaiting the announcement of the dearness allowance (DA) hike for July 2026. The central government did not announce the increase in its cabinet meeting on 14 October. Though the cabinet announced a performance-linked bonus (PLB), or annual bonus, for all Railway employees, it did not announce any decision on…
India’s stock market weakness is masking one of the country’s strongest pockets of AI exposure. While the Nifty has declined 12% in 2026, a Goldman Sachs-screened basket of 42 Indian “AI Enablers” has surged about 60%, making it the best performing segment of the market by a wide margin. The divergence challenges the dominant view…