Judgement

The ITAT holds fresh notice under Section 143(2) mandatory with reference to operative revised return.

ITAT Quashes CEAT’s Assessments for Want of Fresh Section 143(2) Notice After Revised Returns

The Income Tax Department has confirmed that cross-Tax Year challan correction functionality is under development on TRACES and will be available shortly, while clarifying the use of FY 2025-26 challans for TY 2026-27 TDS statements.

TRACES to Soon Permit Cross-Year Challan Corrections Amid New Income Tax Act Transition

The ITAT Ahmedabad held mere payment through banking channels and donation receipt cannot establish genuineness of political contribution.

ITAT Denies Section 80GGC Deduction for Political Donation

Rashi Peripherals will pay Rs 1.67 lakh, including GST, after NSE rejected its penalty waiver request for SEBI listing regulation violations.

Rashi Peripherals Faces Rs 1.67 Lakh Fine After NSE Rejects Waiver Application for SEBI Listing Regulation Violations

SBI has disclosed the exposure of 3,897 customer records containing personally identifiable information on the dark web and initiated cybersecurity response measures and an independent investigation.

SBI Discloses Customer Data Leak on Dark Web, Identifies 3,897 Records Containing Personally Identifiable Information

ICICI Life Insurance faces a total tax and interest demand of Rs 5,914.19 crore for AY 2023 and has filed an appeal against the rectification order, stating that no material adverse financial impact is expected.

ICICI Prudential Life Insurance Faces Rs 5,914 Crore Tax Demand After Income Tax Department Issues Rectification Order for AY 2023

CBDT exempts eligible resident and foreign institutional investors from TDS on interest earned on Maharajah INR Bonds issued by the New Development Bank from tax year 2026-27 onwards. 

CBDT Exempts Interest on New Development Bank’s Maharajah INR Bonds from TDS

The ITAT Mumbai directs fresh examination of India–UK DTAA conditions and arm’s-length remuneration.

ITAT Remands PE Dispute Involving UK Software Company to AO

The ITAT Mumbai holds that assessment cannot be finalised before completion of Valuation Reference.

ITAT Deletes Capital Gains Addition for AO’s Failure to Await DVO Valuation Report 

The ITAT Ahmedabad held that banking channels and donation receipts insufficient to establish genuine political contribution.

ITAT Denies Section 80GGC Deduction for Political Donation Found to Be an Accommodation Entry

The GSTAT holds that sale during transit does not exempt taxpayer from E-way bill compliance.

GSTAT Upholds Penalty for Expired E-Way Bill and Incorrect Dispatch Details

Income Tax

Finance

ICAI

ITAT Delhi

ITAT

Chartered Accountant

CBDT

ITAT Mumbai

The ITAT set aside assessment order after the AO failed to issue a draft assessment order under Section 144B, directing a fresh assessment after considering the assessee’s objections.

ITAT Holds Failure to Issue Draft Assessment Order Under Section 144B Invalidates Assessment Procedure

Punjab Vigilance Bureau arrests Pathankot SHO Gulshan Kumar for allegedly accepting a Rs 1 lakh bribe as part of a Rs 2.5 lakh deal.

ITAT Quashes CEAT’s Assessments for Want of Fresh Section 143(2) Notice After Revised Returns:

ITAT Quashes CEAT’s Assessments for Want of Fresh Section 143(2) Notice After Revised Returns

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