Judgement

The ITAT Delhi held that once a transaction is covered under a binding APA under Section 92CC, the Revenue cannot disallow the same expenditure under Section 37(1), deleting the Rs 15.77 crore addition.

ITAT Deletes Rs 15.77 Crore Disallowance, Holds Business Expediency Cannot Be Reopened Under Section 37(1)

Announcement

The ICAI has introduced revisions in the Code of Ethics (13th edition) – Volumes I, II and III, scheduled to take effect from April 01, 2026.

ICAI Revises Code of Ethics (13th edition) - Volumes I, II and III: Effective April 01, 2026

The ITAT Mumbai held that if the cash deposits are supported by a book of accounts, stock records, sales registers and VAT returns can not be held as unexplained money only because they were deposited during demonetisation.

Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income 

News

The government has introduced major revisions in the Special Additional Excise Duty (SAED) rates for petroleum products including Petrol, Diesel and ATF, effective from June 01, 2026.

Govt Revises Central Excise Duty Rates on Petroleum Products; Effective June 1, 2026

ITAT holds only the profit element in unaccounted receipts taxable and grants peak credit benefit.

Pune ITAT Restricts Taxation of Unrecorded Real Estate Receipts

The ITAT Agra quashed reassessment proceedings in a Rs 3.5 lakh donation deduction case, holding the Section 148 notice as time-barred and legally invalid.

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ITAT Deletes Rs 15.77 Crore Disallowance, Holds Business Expediency Cannot Be Reopened Under Section 37(1)

ICAI Revises Code of Ethics (13th edition) - Volumes I, II and III: Effective April 01, 2026

Cash Deposits During Demonetisation Cannot Be Treated as Unexplained Income

Govt Revises Central Excise Duty Rates on Petroleum Products; Effective June 1, 2026

Pune ITAT Restricts Taxation of Unrecorded Real Estate Receipts

ITAT Sets Aside Reassessment, Says Rs 3.5 Lakh Escaped Income Below Rs 50 Lakh Threshold for Extended Limitation