Income Tax Bulletin January 2026
Judicial Updates
- Non-mention of Section 12AB Registration Number in ITR is a procedural issue, thereby cannot be used to disallow exemption u/s 11.
- Subsequent Superior Court ruling cannot be a ground for ITAT to invoke Sec. 254(2) as it is not a mistake apparent.
- Integrated leasing of educational infrastructure with bundled operational services constitutes business income and not income from House Property
- TDS credit on salary undeniable to employee where employer deducted but failed to deposit tax.
- Mere 3-days’ time for responding to SCN is inadequate. CBDT’s 7-day time limit is mandatory.