TaxGuru.in - Daily Newsletter

Hyderabad ITAT: Reassessment on Same Material Is Change of Opinion

CA Vijayakumar Shetty — Tue, 11 Aug 2026 10:51:27 +0000

Hyderabad ITAT quashes reassessment as change of opinion, holding that the same material accepted in scrutiny cannot justify reopening under Section 148.

The post Hyderabad ITAT: Reassessment on Same Material Is Change of Opinion appeared first on TaxGuru.

Order to Cash (O2C) Cycle: Process, Controls and Metrics

Gagandeep — Tue, 11 Aug 2026 10:48:21 +0000

Understand the Order to Cash cycle, key stages, controls and metrics that connect sales, fulfilment, billing, collections and cash flow.

The post Order to Cash (O2C) Cycle: Process, Controls and Metrics appeared first on TaxGuru.

Misuse of SARFAESI Act: Borrower Concerns and Banking Practices

subarata banerjee — Tue, 11 Aug 2026 10:44:36 +0000

Article examines why job security appeals to youth, highlighting taxation, MSME finance, banking disputes, NPA classification and SARFAESI-related concerns.

The post Misuse of SARFAESI Act: Borrower Concerns and Banking Practices appeared first on TaxGuru.

Bangalore ITAT: Demonetised Notes for Members’ Loan Recovery Not Taxable U/s 68

CA Vijayakumar Shetty — Tue, 11 Aug 2026 10:35:02 +0000

Bangalore ITAT deleted Section 68 addition on SBN loan recoveries, holding the source was explained despite restrictions on accepting demonetised notes.

The post Bangalore ITAT: Demonetised Notes for Members’ Loan Recovery Not Taxable U/s 68 appeared first on TaxGuru.

Form 48: Accountant’s Report for International & Specified Domestic Transactions

editor8 — Tue, 11 Aug 2026 10:34:25 +0000

CBDT introduces Form 48 under Section 172 for annual reporting of international and specified domestic transactions with structured transfer pricing disclosures.

The post Form 48: Accountant’s Report for International & Specified Domestic Transactions appeared first on TaxGuru.

Foreign Tax Credit – Forms 44 & 45 (Former Form 67)

editor4 — Tue, 11 Aug 2026 10:33:36 +0000

New Forms 44 and 45 simplify foreign tax credit claims, dispute settlement intimation, verification, documents and due dates from 1 April 2026.

The post Foreign Tax Credit – Forms 44 & 45 (Former Form 67) appeared first on TaxGuru.

Jodhpur ITAT: Provisional U/s 12A/80G Cancellation Requires Specific Notice and Hearing

CA Vijayakumar Shetty — Tue, 11 Aug 2026 09:39:20 +0000

Jodhpur ITAT restores Section 12AB and 80G applications and directs specific notice and hearing before reconsidering provisional registration cancellation.

The post Jodhpur ITAT: Provisional U/s 12A/80G Cancellation Requires Specific Notice and Hearing appeared first on TaxGuru.

Jaipur ITAT: Reassessment Quashing Attains Finality After SC Dismisses Revenue’s SLP

CA Vijayakumar Shetty — Tue, 11 Aug 2026 09:24:20 +0000

Jaipur ITAT holds Rajasthan HC’s reassessment judgment final after SC dismissed Revenue’s SLP, rejecting the delay-based objection.

The post Jaipur ITAT: Reassessment Quashing Attains Finality After SC Dismisses Revenue’s SLP appeared first on TaxGuru.

Jodhpur ITAT: Section 10(23C)(iiiab) Exemption Denied as Grants Were Only 36.47%

CA Vijayakumar Shetty — Tue, 11 Aug 2026 09:14:26 +0000

Jodhpur ITAT denies Section 10(23C)(iiiab) exemption as Government grants were 36.47% of receipts, below the 50% threshold.

The post Jodhpur ITAT: Section 10(23C)(iiiab) Exemption Denied as Grants Were Only 36.47% appeared first on TaxGuru.

Jodhpur ITAT: NSEL Bad Debt Write-Off Allowable Despite Future Recovery

CA Vijayakumar Shetty — Tue, 11 Aug 2026 09:02:48 +0000

ITAT allows NSEL bad-debt write-offs under Section 36(1)(vii), while remanding the Section 80IA windmill deduction issue for fresh examination.

The post Jodhpur ITAT: NSEL Bad Debt Write-Off Allowable Despite Future Recovery appeared first on TaxGuru.

E-Verification Scheme, Section 260 of Income Tax Act, 2025 & AIS

Editor — Tue, 11 Aug 2026 08:55:57 +0000

Income Tax Department's E-Verification Scheme uses AIS data to identify return mismatches, seek explanations and assess further proceedings.

The post E-Verification Scheme, Section 260 of Income Tax Act, 2025 & AIS appeared first on TaxGuru.

Hyderabad ITAT: Section 80P Deduction Allowed After Delay Condoned u/s 119(2)(b)

CA Vijayakumar Shetty — Tue, 11 Aug 2026 08:50:59 +0000

ITAT directs AO to reconsider ₹53.82 lakh Section 80P deduction after CCIT condoned the delayed return under Section 119(2)(b).

The post Hyderabad ITAT: Section 80P Deduction Allowed After Delay Condoned u/s 119(2)(b) appeared first on TaxGuru.

Jodhpur ITAT: Penny Stock LTCG Cannot Be Treated as Bogus Without Linking Evidence

CA Vijayakumar Shetty — Tue, 11 Aug 2026 08:35:47 +0000

ITAT deletes penny stock LTCG additions after finding no evidence linking the assessee to bogus accommodation entries beyond a general Investigation Wing report.

The post Jodhpur ITAT: Penny Stock LTCG Cannot Be Treated as Bogus Without Linking Evidence appeared first on TaxGuru.

Master File & Country-by-Country Report (CbCR): Forms 56, 57, 58, 59 & 60

editor4 — Tue, 11 Aug 2026 08:35:13 +0000

Income Tax Department introduces Forms 56-60 for Master File and CbCR, with structured filing, specified thresholds, timelines and compliance requirements.

The post Master File & Country-by-Country Report (CbCR): Forms 56, 57, 58, 59 & 60 appeared first on TaxGuru.

Safe Harbour Application – Form 49 (Replaces Forms 3CEFA, 3CEFB & 3CEFC)

editor8 — Tue, 11 Aug 2026 08:33:29 +0000

CBDT introduces Form 49 from 1 April 2026, merging Forms 3CEFA, 3CEFB and 3CEFC for simplified electronic Safe Harbour applications

The post Safe Harbour Application – Form 49 (Replaces Forms 3CEFA, 3CEFB & 3CEFC) appeared first on TaxGuru.

Bombay HC: Bogus Purchases Alone Cannot Trigger Section 69C; ₹104.99 Crore Addition Deleted

CA Ajay Kumar Agrawal — Tue, 11 Aug 2026 08:00:39 +0000

Bombay HC upholds deletion of Rs.104.99 crore Section 69C addition, finding the assessee’s explanation supported by documents and inquiry lacking.

The post Bombay HC: Bogus Purchases Alone Cannot Trigger Section 69C; ₹104.99 Crore Addition Deleted appeared first on TaxGuru.

ITAT Delhi: Foreign Life Policy Not Undisclosed Asset; Maturity Proceeds Exempt

CA Ajay Kumar Agrawal — Tue, 11 Aug 2026 07:55:56 +0000

ITAT Delhi: Foreign Life Policy Acquired as NRI Not Undisclosed Asset or Taxable Under Black Money Act; Section 10(10D) Exemption Applies to Maturity Proceeds Despite Foreign Insurer

The post ITAT Delhi: Foreign Life Policy Not Undisclosed Asset; Maturity Proceeds Exempt appeared first on TaxGuru.

Hyderabad ITAT: Only 16% of ₹40.93 Crore On-Money Receipts Taxable

CA Vijayakumar Shetty — Tue, 11 Aug 2026 07:18:38 +0000

ITAT Hyderabad limits tax on ₹40.92 crore on-money receipts to 16% profit, holding seized material must be considered as a whole.

The post Hyderabad ITAT: Only 16% of ₹40.93 Crore On-Money Receipts Taxable appeared first on TaxGuru.

ITAT Remands ₹2.15 Crore On-Money Addition Pending Developer’s Appeal Findings

CA Vijayakumar Shetty — Tue, 11 Aug 2026 07:00:29 +0000

ITAT remands ₹2.15 crore on-money addition for fresh adjudication after noting the same seized documents were central to the developer’s pending appeal.

The post ITAT Remands ₹2.15 Crore On-Money Addition Pending Developer’s Appeal Findings appeared first on TaxGuru.

Hyderabad ITAT: ₹2.55 Crore “On-Money” Additions Deleted for Lack of Corroboration

CA Vijayakumar Shetty — Tue, 11 Aug 2026 06:17:52 +0000

Hyderabad ITAT deletes ₹2.55 crore on-money additions, holding third-party seized material without independent corroborative evidence cannot sustain additions.

The post Hyderabad ITAT: ₹2.55 Crore “On-Money” Additions Deleted for Lack of Corroboration appeared first on TaxGuru.

Hyderabad ITAT: Full 10(10B) Exemption for BSNL VRS-2019; 1,811-Day Delay Condoned

CA Vijayakumar Shetty — Tue, 11 Aug 2026 05:54:02 +0000

Hyderabad ITAT allows Section 10(10B) exemption for BSNL VRS-2019 compensation and condones delays up to 1,811 days, subject to eligibility verification.

The post Hyderabad ITAT: Full 10(10B) Exemption for BSNL VRS-2019; 1,811-Day Delay Condoned appeared first on TaxGuru.

SC: AWS Cloud Receipts Not Royalty or FTS/FIS

CA Ajay Kumar Agrawal — Tue, 11 Aug 2026 05:52:27 +0000

SC dismisses Revenues challenge to Delhi HC ruling that AWS cloud computing receipts were not taxable as equipment royalty under India-US DTAA.

The post SC: AWS Cloud Receipts Not Royalty or FTS/FIS appeared first on TaxGuru.

Telangana HC Allows GSTAT Appeal Against Retrospective ITC Reversal Under Rule 42(3)

ADV AKRUTI GOYAL — Tue, 11 Aug 2026 05:39:24 +0000

Telangana HC allowed taxpayer to approach GSTAT against retrospective Rule 42(3) ITC reversal, with liberty to raise all legal and factual grounds.

The post Telangana HC Allows GSTAT Appeal Against Retrospective ITC Reversal Under Rule 42(3) appeared first on TaxGuru.

Appeal Allowed Against Section 73 GST Order, Delay to Be Considered: Telangana HC

ADV AKRUTI GOYAL — Tue, 11 Aug 2026 05:39:19 +0000

Telangana HC allows appeal against Section 73 GST order, directing the appellate authority to consider delay condonation and decide merits if satisfied.

The post Appeal Allowed Against Section 73 GST Order, Delay to Be Considered: Telangana HC appeared first on TaxGuru.

SC Declines Interference With Penalty Deletion Over Ambiguous Section 271(1)(c) Notice

CA Ajay Kumar Agrawal — Tue, 11 Aug 2026 05:30:55 +0000

SC declines interference with HC order upholding penalty deletion over an ambiguous Section 271(1)(c) notice; question of law kept open.

The post SC Declines Interference With Penalty Deletion Over Ambiguous Section 271(1)(c) Notice appeared first on TaxGuru.

Bombay HC: Ambiguous Section 271(1)(c) Notice Invalidates Penalty

CA Sandeep Kanoi — Tue, 11 Aug 2026 05:28:10 +0000

Bombay HC dismisses Revenue appeal, holding ambiguous Section 271(1)(c) penalty notice cannot sustain penalty where irrelevant limbs were not struck off.

The post Bombay HC: Ambiguous Section 271(1)(c) Notice Invalidates Penalty appeared first on TaxGuru.

Lucknow ITAT: Sales Spike Alone Cannot Tax Demonetisation Cash as Unexplained

CA Vijayakumar Shetty — Tue, 11 Aug 2026 05:15:09 +0000

Lucknow ITAT deletes ₹1.075 crore addition, holding recorded demonetisation cash sales cannot be taxed as unexplained money merely due to a sales spike.

The post Lucknow ITAT: Sales Spike Alone Cannot Tax Demonetisation Cash as Unexplained appeared first on TaxGuru.

BSNL VRS-2019 Compensation Gets Full Sec. 10(10B) Exemption; ITAT Condones 1,404-Day Delay

CA Vijayakumar Shetty — Tue, 11 Aug 2026 04:58:32 +0000

Hyderabad ITAT condones 1,404-day delay and holds BSNL VRS-2019 compensation eligible for Section 10(10B) exemption, subject to workman verification.

The post BSNL VRS-2019 Compensation Gets Full Sec. 10(10B) Exemption; ITAT Condones 1,404-Day Delay appeared first on TaxGuru.

Significant advantages of IFSC in India over IFSC in Singapore

CA Satish Agarwal — Tue, 11 Aug 2026 04:34:39 +0000

GIFT IFSC offers India-linked international finance, unified regulation, foreign-currency operations, treasury, funds and leasing opportunities alongside Singapore.

The post Significant advantages of IFSC in India over IFSC in Singapore appeared first on TaxGuru.

Stamp Duty Cannot Be Levied Before Issuance of SARFAESI Sale Certificate: Bombay HC

Adv Prakash K Pandya — Tue, 11 Aug 2026 04:32:22 +0000

Bombay HC holds stamp duty cannot be demanded merely for Section 89(4) filing of IBC sale certificates; liability arises on registration or specified use.

The post Stamp Duty Cannot Be Levied Before Issuance of SARFAESI Sale Certificate: Bombay HC appeared first on TaxGuru.

GST Limitation Periods: Section 73, 74 & 74A for SCNs, Orders and Record Retention

Neeraj Bhagat & Co. — Tue, 11 Aug 2026 04:16:51 +0000

GST limitation timelines under Sections 73, 74 and 74A, including SCN, order deadlines and 72-month record retention requirements.

The post GST Limitation Periods: Section 73, 74 & 74A for SCNs, Orders and Record Retention appeared first on TaxGuru.

SC: DVO Reference Valid After Rejection of Books of Account

CA Ajay Kumar Agrawal — Tue, 11 Aug 2026 04:00:41 +0000

SC declines interference with Section 69B addition, holding that the DVO reference followed rejection of books after discrepancies were recorded by the AO.

The post SC: DVO Reference Valid After Rejection of Books of Account appeared first on TaxGuru.

Section 263 Not Invocable for Non-Initiation of Section 270A Penalty: ITAT Ahmedabad

CA Ajay Kumar Agrawal — Tue, 11 Aug 2026 03:59:45 +0000

ITAT Ahmedabad quashes Section 263 revision, finding no under-reporting and holding Section 270A penalty initiation discretionary.

The post Section 263 Not Invocable for Non-Initiation of Section 270A Penalty: ITAT Ahmedabad appeared first on TaxGuru.

Rights Issue Offer Periods & Exemptions Under Companies Act, 2013

Pradyumna Nagar — Tue, 11 Aug 2026 03:54:47 +0000

Private companies can reduce rights issue timelines with 90% member consent, including the 3-day dispatch and 7-day minimum offer periods.

The post Rights Issue Offer Periods & Exemptions Under Companies Act, 2013 appeared first on TaxGuru.

सपने में अरुण जेटली जी आए… बोले-अब तो जीएसटी पोर्टल सही है ना?

ADVABHISHEKKALRA — Tue, 11 Aug 2026 03:50:48 +0000

जीएसटी पोर्टल में सुधार के बावजूद डेटा मिलान, तकनीकी गलतियों, नोटिस और शून्य विवरणी से जुड़ी अनुपालन चुनौतियों पर चर्चा।

The post सपने में अरुण जेटली जी आए… बोले-अब तो जीएसटी पोर्टल सही है ना? appeared first on TaxGuru.

One Taxpayer, One Liability: Protection from Parallel GST Proceedings

S PRASAD — Tue, 11 Aug 2026 03:39:39 +0000

Section 6(2)(b) protects taxpayers from parallel GST adjudication where authorities pursue the same or overlapping tax liability.

The post One Taxpayer, One Liability: Protection from Parallel GST Proceedings appeared first on TaxGuru.

GST Adjudication and Appeal Roadmap From SCN to Supreme Court

Rahul Mishra — Tue, 11 Aug 2026 03:36:52 +0000

Understand the GST dispute process from DRC-01A and SCN to adjudication, appeals, GSTAT, High Court and Supreme Court under key GST sections.

The post GST Adjudication and Appeal Roadmap From SCN to Supreme Court appeared first on TaxGuru.

Digital Personal Data Protection Advisory Manual for Chartered Accountants

CA Sandeep Kanoi — Mon, 10 Aug 2026 19:07:43 +0000

DPDP Act 2023 and Rules 2025 establish phased data protection duties, with compliance, audit and advisory requirements for Chartered Accountants.

The post Digital Personal Data Protection Advisory Manual for Chartered Accountants appeared first on TaxGuru.

SC: Divergent Views on Bias & Natural Justice in Shiksha Karmi Selection; Larger Bench to Decide

CA Sandeep Kanoi — Mon, 10 Aug 2026 18:55:41 +0000

SC allows appeals in Shiksha Karmi selection case, finding breach of natural justice at the Collector stage and restoring appointments with service benefits.

The post SC: Divergent Views on Bias & Natural Justice in Shiksha Karmi Selection; Larger Bench to Decide appeared first on TaxGuru.

CENVAT Credit Cannot Be Denied After Accepting Broadcasting Status: Bombay HC

CA Sandeep Kanoi — Mon, 10 Aug 2026 18:53:15 +0000

Bombay HC dismisses Revenue appeal, holding no substantial question arose on CENVAT credit for broadcasting services, including specified input services.

The post CENVAT Credit Cannot Be Denied After Accepting Broadcasting Status: Bombay HC appeared first on TaxGuru.

IAC Cannot Re-Examine Investments Approved by Excise Commissioner: Gauhati HC

CA Sandeep Kanoi — Mon, 10 Aug 2026 18:52:17 +0000

Gauhati HC set aside IACs rejection of investments under NER excise exemption notifications, holding its role was limited after Commissioner-approved escrow withdrawals.

The post IAC Cannot Re-Examine Investments Approved by Excise Commissioner: Gauhati HC appeared first on TaxGuru.

TDS Paid Under Section 195A Not Subject to Service Tax: CESTAT Chandigarh

CA Sandeep Kanoi — Mon, 10 Aug 2026 18:51:30 +0000

CESTAT Chandigarh excludes TDS paid under Section 195A from service tax value and rejects extended limitation absent suppression or intent to evade tax.

The post TDS Paid Under Section 195A Not Subject to Service Tax: CESTAT Chandigarh appeared first on TaxGuru.

SC: Imported Sugar Eligible for KST Exemption Before 2001 Amendment

CA Sandeep Kanoi — Mon, 10 Aug 2026 18:42:52 +0000

SC upholds retrospective restriction of sugar exemption but bars penalty and limits interest; reassessment must follow KST and CST provisions.

The post SC: Imported Sugar Eligible for KST Exemption Before 2001 Amendment appeared first on TaxGuru.

GSTR-3B Table 4(A): ITC, GSTR-2B Auto-Population and Rectification – FAQs

Sushil Kumar Antal — Mon, 10 Aug 2026 18:40:27 +0000

ICAI FAQs explain GSTR-3B ITC reporting and state that import-service RCM ITC misclassified in 4(A)(3) need not be denied if otherwise eligible.

The post GSTR-3B Table 4(A): ITC, GSTR-2B Auto-Population and Rectification – FAQs appeared first on TaxGuru.

GST Rule 86B 1% Cash Payment Requirement: FAQs

Sushil Kumar Antal — Mon, 10 Aug 2026 18:39:03 +0000

Rule 86B requires 1% cash payment in specified cases. FAQs explain thresholds, RCM exclusion, cumulative exceptions, ITC excess use and regularisation.

The post GST Rule 86B 1% Cash Payment Requirement: FAQs appeared first on TaxGuru.

Understanding ITC Reversal and Reclaim under GSTR-3B: FAQs

Sushil Kumar Antal — Mon, 10 Aug 2026 18:30:11 +0000

Learn the GSTR-3B treatment of ITC reversals under 4(B)(1), 4(B)(2), 4(A)(5) and 4(D)(1), including inadvertent reversal correction.

The post Understanding ITC Reversal and Reclaim under GSTR-3B: FAQs appeared first on TaxGuru.

When Does GST Lis Commence? Delhi HC Settles Section 107(6) Pre-Deposit Law

CA (Adv) Sikander Sachdeva — Mon, 10 Aug 2026 18:25:51 +0000

Delhi HC held the SCN commences the lis and the pre-01.10.2025 appellate regime applies where the SCN preceded the Section 107(6) amendment.

The post When Does GST Lis Commence? Delhi HC Settles Section 107(6) Pre-Deposit Law appeared first on TaxGuru.

Advocate Protest Cannot Obstruct Lawful Production of Accused Before Court: Madras HC

Sanjeev Sirohi — Mon, 10 Aug 2026 18:17:30 +0000

Madras HC quashes FIR under Section 225 IPC subject to regret, while holding that preventing police from producing arrested advocates prima facie attracts the offence.

The post Advocate Protest Cannot Obstruct Lawful Production of Accused Before Court: Madras HC appeared first on TaxGuru.

Panaji ITAT: AO Cannot Tax Loan Merely Doubting Creditor’s Creditworthiness

CA Vijayakumar Shetty — Mon, 10 Aug 2026 18:05:11 +0000

Panaji ITAT deleted ₹32.25 lakh Section 68 addition after the assessee explained the loan’s nature, source and source of source with evidence.

The post Panaji ITAT: AO Cannot Tax Loan Merely Doubting Creditor’s Creditworthiness appeared first on TaxGuru.

1 April Notice Date Prevails Over 31 March: Rajkot ITAT Quashes ₹1.33 Cr Penny-Stock Addition

CA Vijayakumar Shetty — Mon, 10 Aug 2026 17:26:35 +0000

Rajkot ITAT quashes ₹1.33 crore reassessment as section 148 notice issued on 1 April 2021 required compliance with the new section 148A regime.

The post 1 April Notice Date Prevails Over 31 March: Rajkot ITAT Quashes ₹1.33 Cr Penny-Stock Addition appeared first on TaxGuru.

BSNL VRS-2019 Compensation Exempt u/s 10(10B) as Retrenchment Pay: ITAT Nagpur

CA Vijayakumar Shetty — Mon, 10 Aug 2026 15:35:19 +0000

Nagpur ITAT held BSNL VRS-2019 compensation is capital receipt and retrenchment compensation exempt under Section 10(10B), not Section 10(10C).

The post BSNL VRS-2019 Compensation Exempt u/s 10(10B) as Retrenchment Pay: ITAT Nagpur appeared first on TaxGuru.

Hyderabad ITAT: Merits Decision Impliedly Condoned Delay in Appeal

CA Vijayakumar Shetty — Mon, 10 Aug 2026 13:15:27 +0000

Hyderabad ITAT held delay impliedly condoned after CIT(A) decided the appeal on merits and remanded the matter for fresh adjudication with hearing.

The post Hyderabad ITAT: Merits Decision Impliedly Condoned Delay in Appeal appeared first on TaxGuru.

ITAT: Deletes ₹8.66 Lakh Section 69A Addition, Rejects 60% Rate for AY 2017-18

CA Vijayakumar Shetty — Mon, 10 Aug 2026 13:00:59 +0000

Hyderabad ITAT deletes ₹8.66 lakh Section 69A addition and rejects 60% Section 115BBE rate for AY 2017-18, remanding ₹2.96 lakh for verification.

The post ITAT: Deletes ₹8.66 Lakh Section 69A Addition, Rejects 60% Rate for AY 2017-18 appeared first on TaxGuru.

Panaji ITAT Quashes Section 147 Reassessment When No Addition Made on Reopened Issue

CA Vijayakumar Shetty — Mon, 10 Aug 2026 09:52:18 +0000

Panaji ITAT quashed Section 147 reassessment where no addition was made on cash deposits forming the reopening basis and Section 80P was disallowed without fresh notice.

The post Panaji ITAT Quashes Section 147 Reassessment When No Addition Made on Reopened Issue appeared first on TaxGuru.

Hyderabad ITAT: ₹12.69 Lakh Demonetisation Cash Addition Deleted for Explained Bank Withdrawals

CA Vijayakumar Shetty — Mon, 10 Aug 2026 09:05:05 +0000

Hyderabad ITAT deleted ₹12.69 lakh Section 69A addition after bank and loan statements established the source of demonetisation-period cash deposits.

The post Hyderabad ITAT: ₹12.69 Lakh Demonetisation Cash Addition Deleted for Explained Bank Withdrawals appeared first on TaxGuru.

Survey Income Is Part of Book Profit for Partners’ Remuneration u/s 40(b): ITAT Panaji

CA Vijayakumar Shetty — Mon, 10 Aug 2026 06:54:04 +0000

Panaji ITAT allowed partners’ remuneration on survey income included in book profit and deleted a ₹1.26 lakh bank-balance addition.

The post Survey Income Is Part of Book Profit for Partners’ Remuneration u/s 40(b): ITAT Panaji appeared first on TaxGuru.

Panaji ITAT Allows Section 80P(2)(d) on Interest from Co-operative Banks

CA Vijayakumar Shetty — Mon, 10 Aug 2026 06:42:55 +0000

Panaji ITAT allowed ₹15.95 lakh deduction under Section 80P(2)(d) for co-operative bank interest and reversed the CIT(A) disallowance.

The post Panaji ITAT Allows Section 80P(2)(d) on Interest from Co-operative Banks appeared first on TaxGuru.

Rajkot ITAT: ₹8.91 Cr Reassessment Quashed as Notice Issued to Dissolved Firm

CA Vijayakumar Shetty — Mon, 10 Aug 2026 06:15:21 +0000

Panaji ITAT quashes ₹8.91 crore reassessment against dissolved firm, holding notice to non-existent entity invalid and same income already taxed in successor’s hands.

The post Rajkot ITAT: ₹8.91 Cr Reassessment Quashed as Notice Issued to Dissolved Firm appeared first on TaxGuru.

Panaji ITAT: Partner Remuneration Cannot Be Taxed Twice – ₹2.98 Lakh Addition Deleted

CA Vijayakumar Shetty — Mon, 10 Aug 2026 06:02:25 +0000

Panaji ITAT deleted ₹2.98 lakh from a firm’s assessment as the same partner remuneration was already taxed in the partner’s hands for AY 2013-14.

The post Panaji ITAT: Partner Remuneration Cannot Be Taxed Twice – ₹2.98 Lakh Addition Deleted appeared first on TaxGuru.

Section 10(23C)(iiiad) Exemption Restored: CIT(A) Cannot Reject Fresh Claim – Panaji ITAT

CA Vijayakumar Shetty — Mon, 10 Aug 2026 05:50:07 +0000

Panaji ITAT restored an educational society’s Section 10(23C)(iiiad) exemption claim to the AO for fresh assessment for AYs 2018-19 and 2019-20.

The post Section 10(23C)(iiiad) Exemption Restored: CIT(A) Cannot Reject Fresh Claim – Panaji ITAT appeared first on TaxGuru.

Panaji ITAT Allows Section 80P Deduction on Bank Deposits of Credit Co-operative Society

CA Vijayakumar Shetty — Mon, 10 Aug 2026 05:35:35 +0000

Panaji ITAT allowed Section 80P(2)(a)(i) deduction on bank interest, holding deposits of a credit co-op society attributable to banking business.

The post Panaji ITAT Allows Section 80P Deduction on Bank Deposits of Credit Co-operative Society appeared first on TaxGuru.

Panaji ITAT: Section 148 Notices Beyond Surviving Limitation Quashed Under Rajeev Bansal

CA Vijayakumar Shetty — Mon, 10 Aug 2026 05:15:13 +0000

Panaji ITAT quashed AY 2016-17 and 2017-18 reassessments as Section 148 notices issued on 27.07.2022 exceeded the surviving limitation.

The post Panaji ITAT: Section 148 Notices Beyond Surviving Limitation Quashed Under Rajeev Bansal appeared first on TaxGuru.

Pune ITAT Deleted On-Money Addition – Banking Payment Cannot Be Treated as Unexplained Cash

CA Vijayakumar Shetty — Mon, 10 Aug 2026 05:00:18 +0000

Pune ITAT deleted ₹11 lakh on-money addition, finding the alleged payment was through banking channels for additional flat work and source was explained.

The post Pune ITAT Deleted On-Money Addition – Banking Payment Cannot Be Treated as Unexplained Cash appeared first on TaxGuru.

Calcutta HC Upholds Eviction Decree as NCLT/NCLAT Observations Did Not Establish Tenancy

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:29:42 +0000

Calcutta HC dismisses review against eviction decree, holding NCLT/NCLAT observations did not conclusively establish tenancy rights.

The post Calcutta HC Upholds Eviction Decree as NCLT/NCLAT Observations Did Not Establish Tenancy appeared first on TaxGuru.

Bombay HC Upholds 20 kg Pet Food Classification as Retail Sale under CTH 2309

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:28:07 +0000

Bombay HC dismisses appeal, holding 20 kg pet food bags classifiable as retail packs under CTH 2309 1000 based on packaging and consumer declarations.

The post Bombay HC Upholds 20 kg Pet Food Classification as Retail Sale under CTH 2309 appeared first on TaxGuru.

NCLT Dismisses ₹975 Crore Income Tax Claim Filed After 1305-Day Delay

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:27:20 +0000

NCLT dismisses ₹975 crore Income Tax claim filed after 1305 days, holding the delay unjustified after CoC approved the Resolution Plan.

The post NCLT Dismisses ₹975 Crore Income Tax Claim Filed After 1305-Day Delay appeared first on TaxGuru.

Allahabad HC Quashes GST Demand for Notice Uploaded Under Additional Notices Tab

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:24:41 +0000

Allahabad HC quashes GST demand after finding notice and order were uploaded under the Additional Notices and Orders tab, affecting the petitioners awareness.

The post Allahabad HC Quashes GST Demand for Notice Uploaded Under Additional Notices Tab appeared first on TaxGuru.

ITAT Mumbai Deletes Unexplained Investment Additions for Shops Purchased by Others

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:24:03 +0000

ITAT Mumbai deletes Section 69 additions for shops bought by others and Rs.18.64 lakh cash addition, citing lack of corroboration and cross-examination.

The post ITAT Mumbai Deletes Unexplained Investment Additions for Shops Purchased by Others appeared first on TaxGuru.

CESTAT Chandigarh Allows Cenvat Credit, Extended Limitation Not Invocable After Audit

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:16:13 +0000

Kansal Nerolac Paints Ltd Vs Commissioner of Central Excise (CESTAT Chandigarh) The CESTAT Chandigarh allowed the appeal filed by Kansal Nerolac Paints Ltd. against the order…

The post CESTAT Chandigarh Allows Cenvat Credit, Extended Limitation Not Invocable After Audit appeared first on TaxGuru.

NCLAT Delhi Dismisses Section 7 Plea as Financial Debt Had Not Become Due

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:13:58 +0000

NCLAT dismisses Section 7 IBC appeal, holding Rs.10.46 crore qualified as financial debt but had not become due as full consideration remained unpaid.

The post NCLAT Delhi Dismisses Section 7 Plea as Financial Debt Had Not Become Due appeared first on TaxGuru.

ITAT Chennai Quashes Section 153C Notices as Seized Material Received After 1st April 2021

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:10:45 +0000

ITAT Chennai quashes Section 153C notices issued in 2022, holding the date of handing over seized material was the search initiation date.

The post ITAT Chennai Quashes Section 153C Notices as Seized Material Received After 1st April 2021 appeared first on TaxGuru.

MP HC Upholds ITAT Order Annuling Assessment and Deleting ₹2.88 Crore Addition

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:08:47 +0000

MP HC dismisses Revenue appeal against ITAT order annulling Section 143(3) assessment, following its earlier decision in Kalyanika Infra Mega Ventures.

The post MP HC Upholds ITAT Order Annuling Assessment and Deleting ₹2.88 Crore Addition appeared first on TaxGuru.

ITAT Delhi Quashes Assessment as Section 153C, Not Section 143(3), Was Applicable

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:06:56 +0000

ITAT Delhi quashes AY 2021-22 assessment under Section 143(3), holding that proceedings against the assessee should have been initiated under Section 153C.

The post ITAT Delhi Quashes Assessment as Section 153C, Not Section 143(3), Was Applicable appeared first on TaxGuru.

ITAT Chandigarh Deletes ₹13 Crore Addition & Section 271D Penalty for Lack of Evidence

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:04:23 +0000

ITAT Chandigarh quashes reassessment under Section 148, deletes ₹13 crore addition and Section 271D penalty after finding Section 153C applicable.

The post ITAT Chandigarh Deletes ₹13 Crore Addition & Section 271D Penalty for Lack of Evidence appeared first on TaxGuru.

Karnataka HC Allows Consolidated GST Show Cause Notices for Multiple Years

CA Sandeep Kanoi — Sun, 09 Aug 2026 20:02:52 +0000

Karnataka HC allows consolidated GST SCNs for multiple financial years, holding Sections 73/74 impose no statutory bar, while preserving limitation safeguards.

The post Karnataka HC Allows Consolidated GST Show Cause Notices for Multiple Years appeared first on TaxGuru.

Karnataka HC Quashes Settlement Commission Order Passed Beyond Statutory Time Limit

CA Sandeep Kanoi — Sun, 09 Aug 2026 19:56:37 +0000

Karnataka HC dismisses Revenue appeal, holding Settlement Commissions delayed order beyond Section 245D(4A)(iii) limitation could not be sustained.

The post Karnataka HC Quashes Settlement Commission Order Passed Beyond Statutory Time Limit appeared first on TaxGuru.

P&H HC Allows GST Accused to Travel Abroad, Citing Right to Travel

CA Sandeep Kanoi — Sun, 09 Aug 2026 19:32:53 +0000

Punjab and Haryana HC allows GST accused to travel abroad, finding flight-risk apprehension insufficient, subject to surety and return conditions.

The post P&H HC Allows GST Accused to Travel Abroad, Citing Right to Travel appeared first on TaxGuru.

MSMED Amendment Bill 2026 Passed to Strengthen MSME Framework

editor8 — Sun, 09 Aug 2026 19:32:02 +0000

MSMED Amendment Bill 2026 passed by Parliament to strengthen delayed payment mechanisms, TReDS, MSEFCs, Udyam registration and ease of doing business.

The post MSMED Amendment Bill 2026 Passed to Strengthen MSME Framework appeared first on TaxGuru.

P&H HC Quashes GST Prosecution Against Director Without Company as Accused

CA Sandeep Kanoi — Sun, 09 Aug 2026 19:22:07 +0000

Punjab & Haryana HC quashes GST prosecution against director, holding company must be arraigned before vicarious liability under Section 137 arises.

The post P&H HC Quashes GST Prosecution Against Director Without Company as Accused appeared first on TaxGuru.

Limited Liability Guarantees in Bank Loans: Caps, Proportionate Liability & Drafting

Ashok Kakkar — Sun, 09 Aug 2026 19:17:07 +0000

Limited guarantees can cap a guarantors liability by amount, percentage or facility under Sections 128, 146 and 147 of the Contract Act.

The post Limited Liability Guarantees in Bank Loans: Caps, Proportionate Liability & Drafting appeared first on TaxGuru.

Does Insolvency Law’s Clean Slate Doctrine Really Wipe the Tax Record Clean?

editor2 — Sun, 09 Aug 2026 19:06:11 +0000

Telangana HC allowed tax reassessment after an IBC plan in a fraud case, raising uncertainty over extinguished tax liabilities and resolution certainty.

The post Does Insolvency Law’s Clean Slate Doctrine Really Wipe the Tax Record Clean? appeared first on TaxGuru.

Small Company Limits Proposed at ₹20 Cr Paid-up Capital & ₹200 Cr Turnover

Sushil Kumar Antal — Sun, 09 Aug 2026 18:54:44 +0000

Corporate Laws Bill 2026 proposes raising small company limits to ₹20 crore capital and ₹200 crore turnover, while existing exclusions continue.

The post Small Company Limits Proposed at ₹20 Cr Paid-up Capital & ₹200 Cr Turnover appeared first on TaxGuru.

Kerala HC: Bona Fide Mistake Warrants Fresh Opportunity to Condone KVAT Appeal Delay

CA Sandeep Kanoi — Sat, 08 Aug 2026 21:04:45 +0000

Kerala HC quashes KVAT appeal rejection and permits delay condonation applications, citing bona fide mistake and allowing the petitioner to pursue appeals.

The post Kerala HC: Bona Fide Mistake Warrants Fresh Opportunity to Condone KVAT Appeal Delay appeared first on TaxGuru.

Kerala HC: Medical PG Stipend vs Salary Dispute Requires Appeal for Section 10(16) Exemption

CA Sandeep Kanoi — Sat, 08 Aug 2026 21:03:59 +0000

Kerala HC declines writ intervention over Section 10(16) exemption, holding stipend-versus-salary classification a factual issue for statutory appeal.

The post Kerala HC: Medical PG Stipend vs Salary Dispute Requires Appeal for Section 10(16) Exemption appeared first on TaxGuru.

Madras HC Dismisses SARFAESI Writ, Directs Borrower to Approach DRT Within 30 Days

CA Sandeep Kanoi — Sat, 08 Aug 2026 21:02:07 +0000

Madras HC dismisses writ against private NBFC’s SARFAESI action, directing borrower to approach DRT under Section 17 within 30 days.

The post Madras HC Dismisses SARFAESI Writ, Directs Borrower to Approach DRT Within 30 Days appeared first on TaxGuru.

Madras HC Upheld RBI Ombudsman’s Findings on GST Refund, Bank Charges & NPA

CA Sandeep Kanoi — Sat, 08 Aug 2026 21:00:58 +0000

Madras HC dismisses writ as Ombudsman addressed GST refund, bank guarantee charges and NPA classification grievances.

The post Madras HC Upheld RBI Ombudsman’s Findings on GST Refund, Bank Charges & NPA appeared first on TaxGuru.

Madras HC Permits Advocate Appointment to Examine Income Tax Records in Liquidation

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:59:51 +0000

Madras HC permits appointment of an income tax advocate to examine records and facilitate settlement of a Rs.6.29 crore IT Department claim.

The post Madras HC Permits Advocate Appointment to Examine Income Tax Records in Liquidation appeared first on TaxGuru.

TAT Mumbai: DBS Bank’s Guarantee Commission TP Adjustment Cut to 0.46%

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:59:08 +0000

ITAT partly allows DBS Bank appeals, restricting guarantee commission adjustment to 0.46%, treating forward-contract gains as capital gains and allowing treaty-rate interest.

The post TAT Mumbai: DBS Bank’s Guarantee Commission TP Adjustment Cut to 0.46% appeared first on TaxGuru.

ITAT Mumbai: DLP Expense Remanded; Bad Debt & PF/ESI Deductions Allowed

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:57:59 +0000

ITAT remands ₹1.08 crore DLP expenses for fresh verification, upholds ₹2.19 crore bad debt claim and deletes ₹8.40 lakh PF/ESIC disallowance.

The post ITAT Mumbai: DLP Expense Remanded; Bad Debt & PF/ESI Deductions Allowed appeared first on TaxGuru.

Non-Service of Assessment Order No Ground to Bypass Statutory Appeal: Kerala HC

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:56:59 +0000

Kerala HC directs issuance of certified KVAT assessment order copy within one week and keeps recovery proceedings in abeyance for one month.

The post Non-Service of Assessment Order No Ground to Bypass Statutory Appeal: Kerala HC appeared first on TaxGuru.

Order Affixed at Wrong Premises Cannot Trigger Appeal Limitation: CESTAT Allahabad

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:54:56 +0000

CESTAT finds GST order was not properly communicated under Section 37C and holds appeal timely, remanding the matter for de-novo proceedings.

The post Order Affixed at Wrong Premises Cannot Trigger Appeal Limitation: CESTAT Allahabad appeared first on TaxGuru.

Section 6(2)(b) Bar on Parallel GST Proceedings Applied to ITC Dispute: Himachal Pradesh HC

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:53:49 +0000

Himachal Pradesh HC directs fresh consideration of GST ITC claims and asks Central and State authorities to resolve overlapping proceedings.

The post Section 6(2)(b) Bar on Parallel GST Proceedings Applied to ITC Dispute: Himachal Pradesh HC appeared first on TaxGuru.

Capital Gains Tax Applies Even When Property Sale Proceeds Settle Mortgage Debt: Kerala HC

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:51:54 +0000

Kerala HC upholds capital gains tax on a distress sale, holding that loan appropriation does not negate capital gain arising from property value appreciation.

The post Capital Gains Tax Applies Even When Property Sale Proceeds Settle Mortgage Debt: Kerala HC appeared first on TaxGuru.

Kerala HC Upholds GST Registration Despite Fraudulent Amendment Application

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:50:46 +0000

Kerala HC upholds continuation of GST registration after cancelling fraudulent amendments, holding Section 29 applies to fraud at the registration stage.

The post Kerala HC Upholds GST Registration Despite Fraudulent Amendment Application appeared first on TaxGuru.

ITAT Raipur: No Change in Facts, School Surplus Cannot Be Separately Assessed

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:50:13 +0000

ITAT allows school’s appeal, holding Revenue failed to show changed facts justifying a different tax treatment from the earlier assessment year.

The post ITAT Raipur: No Change in Facts, School Surplus Cannot Be Separately Assessed appeared first on TaxGuru.

Madras HC: GST Amnesty Claim Remanded Pending Larger Bench Ruling

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:48:34 +0000

HC remands rejected GST Amnesty Scheme application for fresh consideration after pending Section 128A issues are decided by the Principal Seat.

The post Madras HC: GST Amnesty Claim Remanded Pending Larger Bench Ruling appeared first on TaxGuru.

Nicotine Sulphate Is Vegetable Alkaloid, Not Tobacco Product for Excise Duty: CESTAT Ahmedabad

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:43:12 +0000

CESTAT sets aside Nicotine Sulphate duty, interest and penalty, holding the demand time-barred and classification under CTH 29399900 correct.

The post Nicotine Sulphate Is Vegetable Alkaloid, Not Tobacco Product for Excise Duty: CESTAT Ahmedabad appeared first on TaxGuru.

₹3.41 Crore Central Excise Demand Against Cipla Set Aside as Time-Barred: CESTAT Kolkata

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:40:08 +0000

CESTAT Kolkata sets aside ₹3.41 crore excise demand against Cipla, holding the 2016 SCN time-barred as facts were disclosed to the Department.

The post ₹3.41 Crore Central Excise Demand Against Cipla Set Aside as Time-Barred: CESTAT Kolkata appeared first on TaxGuru.

ITAT Rajkot Remanded Section 68 Addition to Verify Duplicate PAN Transactions

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:38:08 +0000

ITAT Rajkot restores cash deposit addition to AO to verify disclosure under correct PAN, duplicate PAN cancellation and transactions under duplicate PAN.

The post ITAT Rajkot Remanded Section 68 Addition to Verify Duplicate PAN Transactions appeared first on TaxGuru.

CESTAT Mumbai: Skoda’s Pre-existing Know-how Licence Not Consulting Engineer Service

CA Sandeep Kanoi — Sat, 08 Aug 2026 20:35:35 +0000

CESTAT sets aside service tax demand, holding technical know-how licence was not Consulting Engineer Service and reverse charge was unavailable before Section 66A.

The post CESTAT Mumbai: Skoda’s Pre-existing Know-how Licence Not Consulting Engineer Service appeared first on TaxGuru.