News

JSW Dulux’s GST demand has been reduced from Rs 118.33 crore to Rs 42.04 crore by the Karnataka GST Department, while the company prepares a further response in the ongoing tax dispute.

JSW Dulux Gets Partial Relief as Karnataka GST Department Reduces Tax Demand from Rs 118.33 Crore to Rs 42.04 Crore

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

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