📢 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.

🔗 Read the full article

📢 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).

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 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.

🔗 Read the full article

📢 ITAT Allows Section 80P Deduction to Co-operative Credit Society Where No Addition Made on Reopened Issues

The ITAT Ahmedabad rules AO Cannot make fresh addition on an issue unconnected with reasons recorded for Reassessment

🔗 Read the full article

📢 High Court Grants Anticipatory Bail to GST Purchasers Accused of Availing Bogus ITC

The Karnataka High Court says custodial interrogation not necessary in genuine transactions.

🔗 Read the full article

📢 ITAT Remands Rs 2.24 Crore Petrol Pump Income Case for Fresh Examination Over Unjustified 8% Profit Estimation

ITAT remanded a petrol pump operator’s case for fresh assessment after finding that the AO applied an 8% profit rate without considering past profits or comparable businesses.

🔗 Read the full article

📢 High Court Holds Mere Suspicion of ‘Mule Account’ Insufficient to Freeze Account

The Calcutta High Court has held that bank cannot freeze account without evidence of Fraud.

🔗 Read the full article

📢 ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

The ITAT Bangalore held that success fee of Rs 1.47 crore was wholly and exclusively incurred in connection with assessee’s sale of shares.

🔗 Read the full article

📢 CBI Arrests Airtel Distributor Over Illegal SIM Box Operation Linked to 73 Cyber Fraud Cases

CBI arrests an Airtel distributor accused of fraudulently issuing around 700 SIM cards linked to an illegal SIM box network and 73 cybercrime cases across India.

🔗 Read the full article

📢 High Court Holds Section 61 Scrutiny Not Mandatory Before Issuing Section 74A GST Notice

The Allahabad High Court held GST Department can invoke Section 74A based on Independent Verification.

🔗 Read the full article

📢 ITAT Deletes Section 69A Bogus LTCG Addition, Holds Suspicion Cannot Replace Evidence

ITAT deleted Section 69A bogus LTCG addition, holding that suspicion and Investigation Wing findings alone could not establish an accommodation entry.

🔗 Read the full article

📢 CBI Secures Extradition of Wanted Fugitive Amritpal Singh from Moldova to India

CBI, in coordination with MEA, MHA and Punjab Police, secured the extradition of wanted fugitive Amritpal Singh from Moldova to India on September 12, 2026.

🔗 Read the full article

📢 ITAT Holds FDR-Bank Balance Difference Cannot Alone Be Treated as Unexplained Income

The ITAT Ahmedabad held that mere comparison of year-end investments with six years’ accumulation insufficient to invoke Section 68.

🔗 Read the full article