Income Tax Appellate Tribunaltax
Filing Error Does Not Void Section 10AA Deduction
ITAT has ruled that an incorrect form filing does not negate entitlement to Section 10AA deductions if eligibility criteria are met.
Jun 30, 2026Read more →
Court News
Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Karnataka High Courttax
Karnataka HC: Clandestine Removal Cannot Be Proved Solely on Power Consumption
The Karnataka High Court dismissed an excise demand citing lack of scientific basis, confirming that clandestine removal of goods cannot be established by mere power consumption analysis.
Jun 29, 2026Read more →
CESTATtax
Freight-Based Vessel Charter for Coastal Goods is Transportation Service, Not Vessel Hire
The CESTAT ruled that voyage charter contracts for coastal goods are categorized as transportation services rather than tangible goods supply, impacting taxation perspectives.
Jun 29, 2026Read more →
ITATtax
Taxability of Development Agreement Capital Gains was Debatable due to Divergent Judicial Views: ITAT Deletes Penalty
The ITAT has deleted a concealment penalty related to capital gains on a development agreement, finding the taxability issue debatable. This decision highlights the importance of judicial interpretation in tax assessments.
Jun 28, 2026Read more →
ITATtax
Taxpayer Merely Confirming Party to Property Sale Deed, Revenue Fails to Prove Ownership: ITAT Deletes Capital Gain Addition
The ITAT ruled that the Revenue was unable to prove the taxpayer's ownership of the property, resulting in the deletion of capital gain additions. This decision highlights the burden of proof on the tax authorities.
Jun 28, 2026Read more →
Reserve Bank of Indiataxbanking
State Government Securities Auction Summarized
The Reserve Bank of India has announced an auction of state government securities amounting to ₹13,600 Crore. The details of the offerings and their terms are crucial for potential investors.
Jun 27, 2026Read more →
ITATtax
Section 263 Revision Invalid After Proper Inquiry by AO
ITAT quashes a Section 263 revision order, reinforcing that adequate inquiries by the AO cannot be overruled based on mere preferences for additional verification.
Jun 27, 2026Read more →
ITATtax
₹10 Lakh Addition Deleted Over Weak Cash Payment Evidence
The Pune ITAT dismissed a ₹10 lakh addition, ruling that unsubstantiated cash payment claims cannot outweigh documented banking transactions.
Jun 27, 2026Read more →
Income Tax Acttax
Angel Tax Abolished, Yet Section 56(2)(viib) Scrutiny Continues
An overview of the abolition of angel tax for certain taxpayers and ongoing scrutiny under Section 56(2)(viib) for the assessment year 2026-27.
Jun 27, 2026Read more →
Income Tax Acttax
NRI ITR Filing in India: Key Compliance Points
A comprehensive guide for NRIs on compliance surrounding Indian income tax, detailing taxable income and obligations related to ITR filing.
Jun 27, 2026Read more →
Income Tax Acttax
Is Tax Audit Compulsory Under Section 58(3) for Income Below 6%?
This article examines whether a tax audit is mandatory under Section 58(3) of the Income-tax Act when profits fall below 6%, emphasizing the need for legislative clarification.
Jun 27, 2026Read more →
Income Tax Appellate Tribunaltax
CA Not Taxable on Client Tax Payment Deposits: ITAT
The ITAT has ruled that a Chartered Accountant (CA) acting as a conduit for client tax payments cannot be taxed on funds deposited through their bank account as unexplained income.
Jun 27, 2026Read more →