Judgement

Supreme Court dismisses delayed SLP, upholding bogus purchase addition based on concurrent factual findings

Supreme Court reaffirms that in bogus purchase cases estimation of profit element is valid

ITAT held that once the Gujarat HC quashes an assessment order and directs fresh proceedings, lower authorities cannot re-adjudicate the same matter.

Once High Court Decides, Lower Authorities Cannot Revisit the Same Issue: ITAT 

The tribunal agreed with the assessee, observing that there was no direct evidence linking the assessee to any manipulation.

ITAT Ahmedabad Quashes Penny Stock Additions Due to Lack of Evidence

ITAT remanded the case involving disputed additions and penalty for Assessment Year 2018-19, holding the assessee lacked a fair opportunity, and directed the Assessing Officer to reconsider issues afresh accordingly.

ITAT Grants Fresh Opportunity to Assessee; Case Sent Back for Review

News

The government introduced major ITR changes for FY 2026-27, implementing extended deadlines, revised return timelines, updated filing rules, mandatory PAN requirements, and renamed forms to enhance compliance and simplify tax procedures.

5 Major Changes Related to Income Tax Returns for the Financial Year 2026-27

HC has quashed the penalty under Section 270A as the PF/ESI claim was bona fide, fully disclosed, and based on prevailing law, with no under-reporting of income.

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Supreme Court reaffirms that in bogus purchase cases estimation of profit element is valid

Once High Court Decides, Lower Authorities Cannot Revisit the Same Issue: ITAT

ITAT Ahmedabad Quashes Penny Stock Additions Due to Lack of Evidence

ITAT Grants Fresh Opportunity to Assessee; Case Sent Back for Review

5 Major Changes Related to Income Tax Returns for the Financial Year 2026-27

HC Rules Penalty Under Section 270A Set Aside for Bona Fide PF/ESI Claim