📢 ITAT Upholds Rs 2.06 Lakh Penalty, Holds Over 5 Year ITR-V Delay Defeats Reasonable Cause Claim

ITAT upheld a Rs 2.06 lakh penalty under Section 272A(2)(e), ruling that a five and half year delay in submitting ITR-V could not be justified as a reasonable cause.

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📢 ITAT Condones 439-Day Delay, Gives Fresh Chance Over Rs 14.37 Lakh Demonetisation Deposits

ITAT condoned the 439-day delay and gave the taxpayer a fresh opportunity to explain the Rs 14.37 lakh demonetisation-period cash deposits.

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📢 ITAT Mumbai Remands Rs 4.03 Crore Unexplained Investment Addition to AO

The ITAT Mumbai holds assessee should not be shut out from producing necessary evidence .

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📢 CBI Chargesheets 17 More in Rs 9,280-Crore Reliance Finance Case

CBI files a fresh chargesheet against 17 accused in the Rs 9,280-crore Reliance finance case.

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📢 Mann, Kejriwal Visit Bhondsi Jail, Meet Minister in Rs 100-Crore GST Case

Punjab CM Bhagwant Mann and AAP chief Arvind Kejriwal visited Bhondsi jail to meet jailed minister Sanjeev Arora, who is facing an alleged Rs 100-crore GST fraud and money-laundering case.

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📢 MCA Issues Major AOC-4 Filing Update for OPCs; Deadline Set for September 27

MCA has issued an AOC-4 filing update know who must file the form and the applicable deadline for FY 2025-26 compliance.

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📢 Sintercom India Faces Rs 2.55 Crore GST Demand Over ITC Disallowance for FY 2022-23

Sintercom India faces an aggregate Rs 2.55 crore GST demand over proposed ITC disallowance for FY 2022-23 and plans to respond within the prescribed timeline.

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📢 Prism Johnson Wins Relief in Rs 22.70 Crore GST Dispute

Prism Johnson gets full relief as the Rs 22.70 crore GST demand and related penalties are set aside by the appellate authority.

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📢 ITAT Holds Third-Party Ledger Alone Cannot Prove Unaccounted Cash Purchases

The ITAT Chennai rules revenue must establish actual incurrence of expenditure and provide effective opportunity.

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📢 CBI Court Convicts Accused, Awards Four Years’ RI with Rs. 14.05 Lakh Fine in Deposit Fraud Case

CBI Court Guwahati convicts Md. Shakir in a deposit fraud case, sentencing him to four years’ rigorous imprisonment and imposing a Rs. 14.05 lakh fine.

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📢 ITAT Remands Rs 1.18 Crore LIC Maturity Tax Dispute Over Alleged Double Taxation

ITAT remanded the Rs 1.18 crore LIC maturity proceeds tax dispute to the AO for fresh verification after the assessee claimed the income had already been taxed as salary.

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📢 Rajasthan Tax Crackdown: 44 Vehicles Seized in Three Weeks Over Suspected GST Evasion

Rajasthan’s Commercial Tax Department seized 44 vehicles in three weeks over suspected GST evasion involving undeclared quantities of goods.

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📢 Harpal Singh Cheema Exposes Major GST Evasion Racket in Punjab, Rs 9.50 Crore Recovered

Punjab Tax Department uncovers a Rs 22 crore GST evasion case, with Rs 9.50 crore recovered from a Mandi Gobindgarh firm.

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📢 ITAT Holds Third-Party Statement and Unauthenticated WhatsApp Chats Insufficient to Prove Cash Payment

The ITAT Mumbai held no addition for alleged On-Money payment without corroborative evidence.

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📢 ITAT Quashes Rs 1.30 Crore Section 68 Unexplained Credits Addition, Holds Investigation Wing Input Alone Cannot Justify Reassessment

ITAT quashes reassessment proceedings, holding that the AO relied on Investigation Wing information without independent application of mind.

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📢 Kerala Must Boost IGST Collection Along With GST Revenue: Minister C P John

Kerala Transport Minister C P John calls for stronger measures to boost IGST collection and curb tax evasion.

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📢 ITAT Sets Aside Section 263 Revision Where AO Had Examined Deduction Claim Under Section 57

The ITAT Ahmedabad held that PCIT Cannot Invoke Section 263 Merely Because Assessment Order Is Silent.

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📢 RTCA Urges Government to Extend Due Date for Filing Tax Audit Reports and Forms 10B/10BB for AY 2026-27 Until Oct 31

RTCA requests income tax authorities to extend the due date for furnishing Tax Audit Reports and Forms 10B/10BB for Assessment Year (AY) 2026-27 to October 31, 2026.

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📢 CBI Court Convicts Private Company and Two Directors in Criminal Conspiracy and Cheating Case

The CBI Court in Ahmedabad has convicted Kushal Diamonds Ltd. and two of its directors in a criminal conspiracy and cheating case involving financial assistance from NSIC.

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📢 ITAT Holds Interest-Free Advances to Sister Concern Cannot Automatically Be Treated as Diversion

The ITAT Chennai deleted an interest disallowance under Section 36(1)(iii) made against Sei Aditi Power Private Limited.

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📢 ITAT Gives Second Chance for Section 12A Registration After Tax Notices Were Sent to Outdated Email Address

ITAT Pune has set aside the Section 12A registration rejection and directed the CIT (Exemption) to reconsider the application after giving the trust a fresh opportunity to be heard.

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