📢 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.

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📢 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.

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📢 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.

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📢 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.

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📢 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.

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📢 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.

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📢 ITAT Holds Uncorroborated Excel Data and Selectively Matched Entries Cannot Sustain Additions

The ITAT Mumbai deletes major additions based on unverified excel sheets and restricts unaccounted sales to actual figures.

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📢 CBI Nabs Senior Secretariat Assistant, MCD, Along With Two Others in Rs 15 Lakh Bribery Case

CBI has caught two individuals along with one public servant, an Inspector of MCD in New Delhi, red-handed while accepting a Rs 15 lakh bribe.

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📢 UPI Payments Above Rs 2,000 Face 0.4% MDR and 18% GST From October 15; Government Rejects Rollback Demand

New UPI MDR above Rs 2,000 will attract 18% GST, while the Centre maintains there will be no rollback of the decision.

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📢 ITAT Remits Rs 1.65 Crore Unexplained Investment Case for Fresh Adjudication

The ITAT Mumbai allows final opportunity to assessee after ex parte assessment and appeal.

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📢 GST Authority Appeals Relief Granted to Kalpataru Subsidiary in Rs 1.35 Crore Transitional Credit Dispute

GST Authority has challenged the appellate relief granted to Kalpataru’s wholly-owned subsidiary Abacus Real Estate in a Rs. 1.35 crore transitional credit demand before the GSTAT.

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📢 Burnpur Cement Hit With Rs 30.91 Lakh Combined Fine by NSE and BSE, Says Penalty Could Further Worsen Financial Position

Burnpur Cement faces a combined Rs 30.91 lakh penalty from NSE and BSE, adding to its financial pressure amid zero revenue and ongoing ARC management.

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📢 Pune Army Officer Loses Rs 1.28 Crore in ‘Digital Arrest’ Scam After Fraudsters Pose as Telecom, CBI and Mumbai Crime Branch Officials

A Pune Army Officer lost Rs 1.28 crore after fraudsters posing as CBI and crime branch officers trapped him in a suspected digital arrest scam.

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📢 ITAT Holds Partner Remuneration Allowable Where Partnership Deed Authorises Payment

The ITAT Mumbai finds no reason for Section 154 Rectification and deleted the disallowance.

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📢 H.G. Infra Engineering Faces Rs 94 Crore GST Demand Proposal for FY 2022-23 Over ITC, Turnover Reconciliation

H.G. Infra Engineering has received a GST SCN proposing a demand of approximately Rs 94 crore for FY 2022-23 over input tax credit and turnover reconciliation issues.

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📢 Priority Jewels Receives Favourable Income Tax Order From CIT(A), Gets Relief of Around Rs 3.54 Crore in Tax Demand

Priority Jewels secures Rs 3.54 crore tax relief after CIT(A) deletes additions and directs penalty proceedings to be dropped.

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📢 Is Income Tax Payable on Credit Card Cashback and Reward Points? Know What Experts Say

Credit card cashbacks and reward points are generally treated as discounts, but their taxability may depend on how the benefits are received or used.

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📢 Accountant’s Mistake in Selecting Old Tax Regime Cannot Trigger Extra Tax Burden, ITAT Directs Fresh Computation Under Section 115BAC

Delhi ITAT grants relief after an accountant mistakenly selected the old tax regime in the ITR despite the tax being calculated under the new regime.

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📢 Disabled Fruit Seller Shocked After Learning a Firm Was Registered in His Name in Suspected Rs 83 Crore GST Fraud

A suspected Rs 83 crore GST fraud in Kanpur has surfaced after a disabled fruit seller was allegedly shown as the proprietor of a firm he says he knew nothing about.

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📢 Lokayukta Police Arrests Central GST Official, Agent in Rs 8 Lakh Bribery Case

Lokayukta Police arrested Central GST official and intermediary for allegedly demanding and accepting Rs 8 lakh to close a tax evasion case against a businessman.

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📢 Telangana ACB Arrests Keesara Inspector and SI in Rs 5 Lakh Bribe Case, Sub-Inspector Caught Red-Handed

Telangana ACB arrests Keesara Inspector and Sub-Inspector in an alleged Rs 5 lakh bribe case linked to station bail.

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