📢 ITAT Remits Cash Deposit Additions for Fresh Adjudication Subject to Rs.3 Lakh Cost

The ITAT Chennai grants one more opportunity to assessee to substantiate cash deposits as business receipts.

🔗 Read the full article

📢 CBI Arrests South Eastern Railway Chief Health Inspector for Allegedly Demanding Rs 25,000 Bribe to Approve Medical Leave

CBI arrested a South Eastern Railway Chief Health Inspector in Bokaro for allegedly accepting bribe to approve medical leave.

🔗 Read the full article

📢 UPI Transactions to Remain Charge-Free: Finance Ministry Notifies New Payment Rules

The Govt has clarified that UPI transactions for P2P transfers and small everyday payments will remain charge-free, while limited fees may apply to select high-valued transactions.

🔗 Read the full article

📢 ITAT Restores 80P Deduction Claim of Co-operative Society Pending Section 119(2)(b) Condonation Application

The ITAT Chennai directs AO to reconsider deduction after competent authority decides return filing delay.

🔗 Read the full article

📢 JSW Dulux Receives Rs 10.61 Crore GST Show Cause Notice Over Proposed Disallowance of Rs 6.17 Crore ITC

JSW Dulux faces a Rs 10.61 crore GST liability for FY2022-23, with the company preparing its response to the authorities.

🔗 Read the full article

📢 ITAT Deletes Rs 53.34 Crore Bad Debt Disallowance and Upholds Section 80IA(4) Deduction

ITAT dismisses Revenue’s appeal, upholds Section 80IA(4) deduction along with relief on Rs. 53.34 crore bad and doubtful debt disallowance.

🔗 Read the full article

📢 ITAT Holds Bona Fide Explanation for Belated Return Excluded from Underreported Income

The ITAT Jaipur allows Section 270A(6) relief to assessee who missed return filing after relocating to USA.

🔗 Read the full article

📢 SEBI Closes Proceedings Against Steel City Commodities Over NSEL Matter After Subsidiary Pays Rs 6 Lakh Settlement Amount

SEBI closes NSEL-related proceedings against Steel City Commodities after a Rs 6 lakh settlement, with no financial or operational impact on Steel City Securities.

🔗 Read the full article

📢 High Court Upholds Validity of GST ITC Condition Under Section 16(2)(c), Allows Appeal Against Rs 56.44 Crore Demand

HC upholds the constitutional validity of Section 16(2)(c) of the CGST Act while allowing Sumetco Alloys to contest the Rs 56.44 crore ITC demand before the appellate authority.

🔗 Read the full article

📢 ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

The ITAT Mumbai held that business expenditure incurred through the credit card of the assessee’s spouse cannot be treated as payment for services requiring TDS.

🔗 Read the full article

📢 Govt Enhances EPFO Wage Ceiling from Rs 15,000 to Rs 25,000; Over 51 Lakh Employees to Fall Under Scope

The Union Cabinet has approved the Ministry of Labour and Employment's proposal to enhance the EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month.

🔗 Read the full article

📢 Will TAR Deadline for AY 2026-27 Be Extended Beyond September 30? Here's Experts' Advise

September 30 TAR filing deadline for the AY 2026-27 is approaching fast; here's experts' advise for taxpayers subject to their account audit.

🔗 Read the full article

📢 Haryana State Tax Bar Association Demands 30 Days Tax Audit Due Date Extension

Haryana State Tax Bar Association has urged the Finance Ministry and CBDT to extend the Tax Audit Report due date for AY 2026-27 beyond 30 September 2026, preferably by at least 30 days, citing heavy compliance workload, transition-related challenges and portal issues

🔗 Read the full article

📢 GST Officers Arrest Iron-Steel Firm Partner Over Alleged Rs 15.78 Crore Fake ITC Fraud Using Bogus Invoices Worth Rs 87.67 Crore

GST officials have arrested an iron-steel firm partner over an alleged Rs 15.78 crore fake ITC fraud involving bogus invoices worth Rs 87.67 crore.

🔗 Read the full article

📢 High Court Sets Aside GST Demand of Rs. 2.63 Crore for Exceeding Show Cause Notice

The Allahabad High Court remands matter for Fresh Adjudication after finding violation of Section 75(7) of GST Act.

🔗 Read the full article

📢 ITAT Deletes Section 68 Addition After Assessee Proves Bank-to-Bank Transfer

The ITAT Mumbai holds transfer of closing balance between assessee’s bank accounts cannot be treated as unexplained credit.

🔗 Read the full article

📢 AIMTPA Requests Finance Ministry to Extend TAR and Audit ITR Due Dates After Workload Mounts

AIMTPA has urged Finance Minister to extend the Tax Audit Report and Audit ITR deadline, citing workload and the need for adequate audit verification time.

🔗 Read the full article

📢 ITAT Gives Fresh Chance for Section 80G Approval After Application Was Rejected Over Wrong Code

ITAT sets aside the Section 80G rejection and directs the tax authority to reconsider the application afresh after an inadvertent coding error.

🔗 Read the full article

📢 ITAT Remits Rs 6.76 Lakh TDS Credit Dispute to AO for Factual Verification

The ITAT Mumbai has restored the issue of Rs 6.76 lakh TDS credit to the AO for factual verification.

🔗 Read the full article

📢 Bikaner Tax Consultants Seek Extension of TAR, Forms 10B/10BB and Audited ITRs Due Dates for AY 2026-27

Bikaner Tax Consultants Association has urged extension in Tax Audit Report and Forms 10B/10BB deadlines to October 31, citing workload and compressed compliance timelines.

🔗 Read the full article

📢 Supreme Court to Examine Section 147A Validity: Can Jurisdictional Assessing Officers Continue Issuing Reassessment Notices?

The Supreme Court will examine whether regular Assessing Officers can legally issue reassessment notices under the retrospectively inserted Section 147A.

🔗 Read the full article