News

The Tax Dept has clarified that taxpayers will not file two ITRs for the same income period, with AY 2026-27 covering FY 2025-26 income and Tax Year 2026-27 covering income earned from April 1, 2026 onward.

No Need to File Two ITRs for AY 2026-27 and Tax Year 2026-27, Clarifies Income Tax Dept Using Kar Setu

The ITAT Delhi quashed reassessment proceedings and deleted a Rs 48 lakh addition after the Income Tax Department failed to furnish the mandatory approval under Section 151.

ITAT Quashes Reassessment as Tax Department Fails to Produce Section 151 Approval

Result

The ICAI has released the results for the ICAI CA Intermediate May 2026 Examinations today; eligible candidates can access their scorecards at caresults.icai.org.

ICAI CA Intermediate May 2026: Results Declared on caresults.icai.org; Check Steps to Download and Toppers List

Five people were booked in a Rs 3,000 crore fake GST invoice scam involving shell companies, bogus billing, and fraudulent ITC claims.

ED Complaint Leads to FIR Against Five in Rs 3,000 Crore Fake GST Invoice Fraud

Judgement

The HC has held that an assessment order issued in Form GST DRC-07 without the signature of the Assessing Officer is legally unsustainable and liable to be set aside.

High Court Holds Absence of Assessing Officer's Signature is an Inherent Defect Which Cannot be Cured Under GST Law

The ITAT deleted the Rs 3.98 crore Section 68 addition, holding that old customer advances carried forward from earlier years cannot be treated as unexplained cash credits.

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No Need to File Two ITRs for AY 2026-27 and Tax Year 2026-27, Clarifies Income Tax Dept Using Kar Setu

ITAT Quashes Reassessment as Tax Department Fails to Produce Section 151 Approval

ICAI CA Intermediate May 2026: Results Declared on caresults.icai.org; Check Steps to Download and Toppers List

ED Complaint Leads to FIR Against Five in Rs 3,000 Crore Fake GST Invoice Fraud

High Court Holds Absence of Assessing Officer's Signature is an Inherent Defect Which Cannot be Cured Under GST Law

ITAT Deletes Rs. 3.98 Crore Addition, Says Old Balances Cannot Be Treated as Unexplained Credits