The Income Tax Appellate Tribunal (ITAT), Cochin Bench, has quashed a tax demand of ₹9.48 lakh raised against Kerala-based Brilliant Study Centre Pvt. Ltd., ruling that contractual teachers cannot be treated as employees merely because they are required to follow attendance, working hours and leave procedures. In its order dated 16 June 2026, the tribunal…

The Income Tax Department has enabled a new Foreign Assets Information (FAI) feature on the e-Filing portal, allowing eligible taxpayers to view information about their overseas financial accounts and assets received by India under international information-sharing arrangements. The move is aimed at improving voluntary compliance and helping taxpayers verify foreign asset details before filing returns…

A Mumbai woman has secured relief from the Income Tax Appellate Tribunal (ITAT) after it deleted an addition of ₹80.10 lakh made under Section 69 of the Income-tax Act, holding that the tax department cannot treat an investment as unexplained solely because one remittance document was unavailable when the overall transaction is supported by sufficient…