Bombay High Court Opens the Door to Waiving ₹4.72 Lakh Misreporting Penalty: Landmark Ruling on Amended Section 270AA     Case Law: Farah Khurshed Titina v. Income Tax Officer, Ward 22(1)(6), Mumbai Court: Bombay High Court Writ Petition No.: 4002 of 2026 Date of Judgment: 5 October 2026 Introduction: Can a Misreporting Penalty Be Waived?…

Supreme Court on Section 143(2): Participation Cannot Cure Complete Absence of Mandatory Notice     No Notice under Section 143(2)? Reassessment Proceedings Can Fall Apart A taxpayer may cooperate with the Assessing Officer, respond to notices under Section 142(1), submit documents and explanations, and participate fully in reassessment proceedings. But can such participation cure the…

Supreme Court on Reassessment: Tangible Material, Reason to Believe and Change of Opinion under Section 147     Chetan Sabharwal v. Assistant Commissioner of Income Tax, Circle 28(1), New Delhi – Supreme Court Judgment dated 28 October 2026 Reassessment proceedings have always occupied a sensitive space in income-tax law. The power of the Assessing Officer…

Request for Extension of Due Dates for Filing Other Statutory E-Forms under the Companies Act, 2013 till 31.12.2026 without Levy of Additional Fees     The copy of the order is as under:

FAST-DS 2026: A One-Time Opportunity for Small Taxpayers to Declare Foreign Assets     Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 – Everything You Need to Know Before 31 December 2026 A foreign bank account. A small overseas investment. An inherited property abroad. Foreign shares that were acquired years ago. Or perhaps an overseas…