Judgement

The ITAT quashed the reassessment proceedings against the assessee due to invalid notice under Section 148A(b), time-barred action, and improper full addition despite joint property ownership.

ITAT Invalidates Entire Reassessment; Cites Breach of Section 148A(b) and Joint Ownership Error

GSTAT upholds DGAP findings and rules that no ITC benefit accrued to the builder post-GST; hence, there is no obligation to pass the benefit to homebuyers under Section 171 of the CGST Act.

GSTAT: No Profiteering Where Post-GST ITC Ratio Declines; DGAP Report Accepted

News

The Income Tax Department has launched an offline utility for Forms 145 and 146 under the new Income Tax Act, 2025.

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

ITAT dismisses Revenue’s appeal, holding that once identity, creditworthiness, and genuineness are established through documentary evidence and banking trail.

ITAT: Section 68 Addition Deleted as Assessee Proved Loan Genuineness; Mere Third-Party Search Findings Not Sufficient

Admit Card

The ICAI has released the admit cards for the CA Intermediate and Final May 2026 examinations at eservices.icai.org. Eligible candidates can download using their SSP registration number and password.

ICAI CA Intermediate and Final May 2026: Admit Card Now Available to Download at eservices.icai.org

ITAT quashes the Section 271D penalty, as it was imposed by the AO instead of the Joint Commissioner, who alone had authority before April 1, 2025.

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ITAT Invalidates Entire Reassessment; Cites Breach of Section 148A(b) and Joint Ownership Error

GSTAT: No Profiteering Where Post-GST ITC Ratio Declines; DGAP Report Accepted

Big Update for Taxpayers: Offline Filing for Forms 145, 146 Now Available

ITAT: Section 68 Addition Deleted as Assessee Proved Loan Genuineness; Mere Third-Party Search Findings Not Sufficient

ICAI CA Intermediate and Final May 2026: Admit Card Now Available to Download at eservices.icai.org

When Law Specifies Authority, Others Cannot Act: ITAT Cancels 271D Penalty