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NewsPolicyRadarMonday, 12 October 2026NEW

Income Tax | ITAT Mumbai Deletes ₹18.89 Crore Disallowance on Reversal of Earlier-Year Provisions

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Summary
ITAT Mumbai deletes ₹18.89 crore provision reversal additions and ₹6.62 crore Section 14A disallowance but upholds education cess disallowance.
Key Facts
TypeNews
SourcePolicyRadar India
PublishedMonday, 12 October 2026
Affected Population~350 million students, 10 million teachers
Key Numbers
Education budget: Rs 1.25 lakh crore (2025-26)
1.5 million schools, 1,100+ universities
70% gross enrollment ratio target by 2030
GDP: $3.9 trillion (2025 est.)
Key Authorities
Ministry of EducationUGCAICTEMinistry of FinanceRBI
Key Stakeholders
StudentsTeachers & FacultyUniversitiesTaxpayersBanks & NBFCsInvestors
Government Context
NDA IIIBJP-led NDA
Centre-Right
LeftCentreRight
Explore Sectors
Education138 tracked→Finance & Economy671 tracked→
Read Full Text at Source
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