Notifications

CBDT has notified the Income-tax (Seventh Amendment) Rules, 2026, introducing Rule 281A and a new form to collect information from taxpayers claiming tax exemptions on interest and capital gains from government securities.

CBDT Notifies Income-tax (Seventh Amendment) Rules, 2026; Introduces New Form for Tax Exemption Claims

Judgement

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 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 upholding a Rs 2.76 lakh addition under Section 68 and a penalty of Rs 85,370 under Section 271(1)(c) over alleged bogus long-term capital gains from Safal Herbs Ltd. shares.

ITAT Upholds Rs 2.76 Lakh Addition, Holds Stock Exchange and Banking Records Alone Cannot Prove Genuine LTCG

The ITAT upheld the deletion of a Rs 1.80 crore addition under Section 68, holding that the increase in asset value arose from revaluation of assets acquired in an earlier financial year rather than any fresh unexplained investment.

ITAT Deletes Rs 1.80 Crore Addition, Holds Asset Revaluation Does Not Mean Fresh Investment

The ITAT upheld a Rs 1.90 lakh addition under Section 69A after rejecting the genuineness of a political donation claimed as a deduction under Section 80GGC.

ITAT Denies Rs 1.90 Lakh Section 80GGC Deduction Over Donation to Apna Desh Party, Relies on Supreme Court Judgement

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