📢 Adobe Systems Wins 10% Tax Rate on Income Tax Refund Interest Under India-Ireland DTAA

ITAT allows taxpayer to avail the beneficial 10% tax rate under the India-Ireland DTAA on interest received from income-tax refunds for AYs 2018-19 and 2019-20, along with TDS credit relief.

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📢 High Court Holds Retrospective Section 147A of Income Tax Act As Unconstitutional

The Punjab and Haryana High Court has declared Section 147A of the Income tax Act, 1961 unconstitutional.

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📢 Rs 2.67 Crore Income Tax Penalty Quashed by ITAT as AO Failed to Clearly Specify Whether Case Involved Concealment or Inaccurate Particulars

ITAT Delhi quashed the Rs 2.67 crore penalty, holding that the AO’s failure to clearly specify the penalty charge in the Section 271(1)(c) notice rendered the proceedings invalid.

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📢 ITAT Remands Deegee Software Rental Income Dispute to AO for Fresh Adjudication

ITAT admitted Deegee Software’s additional ground on the tax treatment of rental income and restored the dispute to the AO for fresh consideration.

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📢 ITAT Rules LLP Subject to Statutory Audit Under LLP Law get Extended ITR Due Date

The ITAT Mumbai has held that LLP required to be audited under LLP Act and Rules is entitled to the extended return filing.

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📢 HDFC Life Faces Rs 3,365 Crore GST Demand, Penalty; To Appeal Order

HDFC Life faces a Rs 3,365 crore GST demand and penalty, and plans to challenge the order before the GST Appellate Tribunal.

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📢 ITAT Deletes Rs 1.13 Crore Transfer Pricing Adjustment, Flags Inconsistent Depreciation Treatment

ITAT deleted the Rs 1.13 crore transfer pricing adjustment after finding that depreciation was treated inconsistently while comparing the assessee’s operating margin with comparable companies.

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How to Pay Advance Tax!

https://x.com/PratibhaGoyal/status/2098699321021743536?s=20

📢 Rs 24 Crore Cyber Fraud: Mumbai Police Arrest 3 for Supplying Mule Bank Accounts, 2,898 SIMs

Mumbai Police arrested three accused for allegedly supplying mule bank accounts and SIM cards to a cyber fraud network involved in transactions linked to around Rs 24 crore.

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📢 ITAT Remands Tax Dispute to Assessing Officer, Directs Fresh Review After Assessee Cites Lack of Proper Opportunity and Non-Supply of Documents

ITAT remands the tax dispute to the Assessing Officer for fresh review after finding that the assessee was not given proper opportunity or relevant documents.

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📢 ITAT Deletes Sections 271C and 271CA Penalties Over Bona Fide Belief

ITAT deleted Rs 30,108 in TDS and TCS penalties, holding that its bona fide beliefs constituted reasonable cause under Section 273B of the Income Tax Act.

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📢 ITAT Gives Taxpayer Another Chance to Prove Professional, Commission Expenses and Section 80GG Deduction Claims

The Mumbai ITAT gave the taxpayer another opportunity to substantiate professional, commission expenses and Section 80GG deduction claims before the CIT(A).

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📢 CBI Arrests CGST Superintendent and a Consultant in Rs 1 Crore Bribery Case

The CBI has arrested a CGST Superintendent and a consultant acting as an intermediary for an alleged demand of Rs 1 crore bribe.

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📢 ITAT Dismisses Dell Employee’s Appeal, Holds Address in Meghalaya Not Enough to Claim Section 10(26) Salary Exemption

ITAT dismissed a Section 10(26) exemption claim on salary income, holding that she failed to prove her income arose from a source situated in the notified area.

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📢 CA Association Seeks Extension in Due Dates of Tax Audit, Form 10B/10BB and ITR Filing for AY 2026-27

The Chartered Accountants Association, Jalandhar, has urged Finance Minister to extend Tax Audit Report, Forms 10B/10BB and ITR filing deadlines for AY 2026-27.

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📢 Sudarshan Colorants Rs 5.11 Cr GST Appeal Rejected by Tamil Nadu Authority

Sudarshan Colorants Rs 5.11 crore GST demand appeal was rejected by Tamil Nadu authorities, with the company planning to challenge the order further.

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📢 Crompton Greaves Consumer Electricals Faces Rs 8.37 Lakh GST Interest Demand Over Delayed GSTR-3B Filing

Crompton Greaves faces an Rs 8.37 lakh GST interest demand over delayed GSTR-3B filing and plans to appeal the order.

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📢 Tax Professionals Seek Extension of Tax Audit and Audited ITR Filing Deadline From September 30 to October 31, 2026

Tax professionals have urged the government to extend the FY 2025-26 Tax Audit and audited ITR filing deadline from September 30 to October 31, 2026.

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📢 ITAT Quashes Section 270A Penalty After Fresh Assessment Makes No Additions

ITAT has quashed the Section 270A penalty imposed on the assessee after the original assessment was set aside and the fresh assessment made no additions, removing the very basis for the penalty.

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📢 Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statements of Financial Transactions (SFT-2518) relating to Mutual Fund transactions.

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📢 CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statement of Financial Transactions (SFT-2517) relating to depository transactions.

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