TaxGuru.in - Daily Newsletter

SEBI | FPIs Investing Only in Government Securities Not Required to Furnish Investor Group Details: SEBI

editor7 — Mon, 07 Sep 2026 18:44:22 +0000

SEBI modifies the FPI Master Circular to remove the requirement for FPIs investing only in Government Securities to furnish investor group details, with the change effective immediately.

The post FPIs Investing Only in Government Securities Not Required to Furnish Investor Group Details: SEBI appeared first on TaxGuru.

Goods and Services Tax | GSTN Enables Appeals Against NIL or Zero Demand Orders

Editor — Mon, 07 Sep 2026 18:41:11 +0000

GSTN removes portal restriction and enables taxpayers to file Form GST APL-01 against demand orders reflecting NIL or Zero demand amount.

The post GSTN Enables Appeals Against NIL or Zero Demand Orders appeared first on TaxGuru.

DGFT | DGFT Launches Open API Integration for Certificate of Origin

Editor — Mon, 07 Sep 2026 18:40:42 +0000

DGFT Trade Notice 25/2026-27 introduces Open API integration for Certificates of Origin through the Trade Connect e-Platform.

The post DGFT Launches Open API Integration for Certificate of Origin appeared first on TaxGuru.

Finance | From First Enquiry to Final Invoice: Digitising the Modern Professional Practice

TG Team — Mon, 07 Sep 2026 18:15:50 +0000

Tax and legal practices all run on the same rhythm — enquiry, intake, deadlines, time, invoice — held together by a patchwork of tools. Here is why a growing number of firms are consolidating that entire lifecycle into a single system, and what they gain by doing so.

The post From First Enquiry to Final Invoice: Digitising the Modern Professional Practice appeared first on TaxGuru.

Income Tax | Tax Audit Mistakes: Key Thresholds and Conditions Taxpayers Should Check

Dr. Suresh Surana — Mon, 07 Sep 2026 14:30:58 +0000

Key tax audit mistakes involving Rs. 10 crore and Rs. 1 crore thresholds, presumptive taxation, turnover, cash transactions and compliance.

The post Tax Audit Mistakes: Key Thresholds and Conditions Taxpayers Should Check appeared first on TaxGuru.

Finance | Pinpea Review: The Best Pinterest Downloader and Its Alternatives

Editor — Mon, 07 Sep 2026 14:17:23 +0000

Review of Pinpea’s Pinterest downloader, covering supported links, downloads, limitations, alternatives, safety, and frequently asked questions.

The post Pinpea Review: The Best Pinterest Downloader and Its Alternatives appeared first on TaxGuru.

Income Tax | ITAT Remands ₹99.38 Lakh Appeal to Examine s.249(4)(b)

CA Vijayakumar Shetty — Mon, 07 Sep 2026 12:44:35 +0000

Mumbai ITAT restores appeal to CIT(A) to examine section 249(4)(b) first and then the section 69 addition on merits if admissible.

The post ITAT Remands ₹99.38 Lakh Appeal to Examine s.249(4)(b) appeared first on TaxGuru.

Income Tax | ITAT Restores ₹1.30 Cr Loan Addition u/s 68 on Fund Trail Evidence

CA Vijayakumar Shetty — Mon, 07 Sep 2026 12:13:05 +0000

ITAT Mumbai admitted additional evidence on a ₹1.30 crore loan and remanded the Section 68 issue for fresh verification without deciding merits.

The post ITAT Restores ₹1.30 Cr Loan Addition u/s 68 on Fund Trail Evidence appeared first on TaxGuru.

Income Tax | Assured-Margin Model: Nil Valuation of Real Services Leads to Double TP Adjustment

CA Vijayakumar Shetty — Mon, 07 Sep 2026 12:00:15 +0000

ITAT Mumbai deletes nil ALP adjustment for support services, allows working-capital adjustment and excludes functionally dissimilar comparables.

The post Assured-Margin Model: Nil Valuation of Real Services Leads to Double TP Adjustment appeared first on TaxGuru.

Corporate Law | SC: Security Advance Is Earnest Money, Liable to Forfeiture; Refund Requires Specific Prayer

CA Vijayakumar Shetty — Mon, 07 Sep 2026 11:59:55 +0000

Supreme Court held advance money was earnest money, upheld ₹20 lakh forfeiture and denied refund absent a specific Section 22 prayer.

The post SC: Security Advance Is Earnest Money, Liable to Forfeiture; Refund Requires Specific Prayer appeared first on TaxGuru.

Income Tax | Low Income Doesn’t Mean Low Creditworthiness: AO Must Investigate U/s 68

CA Vijayakumar Shetty — Mon, 07 Sep 2026 10:35:07 +0000

Mumbai ITAT deletes ₹4.95 crore section 68 additions, holding that low returned income cannot by itself establish lack of creditworthiness where identity, genuineness and documentary evidence are furnished.

The post Low Income Doesn’t Mean Low Creditworthiness: AO Must Investigate U/s 68 appeared first on TaxGuru.

Income Tax | ITAT Mumbai Restricts Section 271AAB Penalty on Unreconciled Jewellery to 10%

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 10:26:54 +0000

ITAT Mumbai holds unreconciled jewellery of ₹29.75 lakh as undisclosed income but restricts Section 271AAB penalty from 30% to 10%.

The post ITAT Mumbai Restricts Section 271AAB Penalty on Unreconciled Jewellery to 10% appeared first on TaxGuru.

Income Tax | ITAT Ahmedabad Allows Section 87A Rebate on STCG under Section 111A for AY 2025-26

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 10:24:34 +0000

ITAT Ahmedabad allows full Section 87A rebate on STCG under Section 111A for AY 2025-26, holding the later restriction prospective.

The post ITAT Ahmedabad Allows Section 87A Rebate on STCG under Section 111A for AY 2025-26 appeared first on TaxGuru.

Income Tax | ITAT Deletes Section 68 Addition on Trade Creditors, Rejects Profit Estimation

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 10:23:36 +0000

ITAT Lucknow deletes Section 68 addition on trade creditors and profit estimation, holding genuine purchases and books cannot be rejected without specific defects.

The post ITAT Deletes Section 68 Addition on Trade Creditors, Rejects Profit Estimation appeared first on TaxGuru.

Income Tax | Profit Below ₹50 Lakh Bars Reopening Beyond 3 Years: ITAT Delhi

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 10:14:42 +0000

ITAT Delhi quashes reassessment for AYs 2014-15 to 2018-19 and sustains only profit-element additions on unaccounted purchases for AYs 2019-20 to 2021-22.

The post Profit Below ₹50 Lakh Bars Reopening Beyond 3 Years: ITAT Delhi appeared first on TaxGuru.

Corporate Law | SC Upholds RBI’s 5-Year Supersession Power u/s 36AAA Over Co-op Banks

CA Vijayakumar Shetty — Mon, 07 Sep 2026 10:11:40 +0000

Supreme Court holds RBI can extend supersession of a multi-State co-operative bank Board beyond six months and its original tenure.

The post SC Upholds RBI’s 5-Year Supersession Power u/s 36AAA Over Co-op Banks appeared first on TaxGuru.

Income Tax | Bona Fide Short Delay with Diligent Pursuit in Tax Appeal Deserves Condonation: HP HC

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 10:04:47 +0000

Himachal Pradesh High Court condoned 31-day delay in PCIT-1’s appeal against ITAT order, holding sufficient cause and bona fide diligence were established.

The post Bona Fide Short Delay with Diligent Pursuit in Tax Appeal Deserves Condonation: HP HC appeared first on TaxGuru.

Finance | SC Directs NOIDA to Waive Developer’s Delay Penalty, Excludes It from CIRP Costs

CA Vijayakumar Shetty — Mon, 07 Sep 2026 10:02:40 +0000

Supreme Court waives NOIDA time-extension charges for a stalled housing project, holding homebuyers and the SRA cannot bear the developer’s default.

The post SC Directs NOIDA to Waive Developer’s Delay Penalty, Excludes It from CIRP Costs appeared first on TaxGuru.

Income Tax | Section 80C Claim via Revised Return allowed under Section 119(2)(b): ITAT Ahmedabad

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 09:55:30 +0000

ITAT Ahmedabad permits assessee to seek Section 119(2)(b) relief and claim ₹1.50 lakh Section 80C deduction through a revised return.

The post Section 80C Claim via Revised Return allowed under Section 119(2)(b): ITAT Ahmedabad appeared first on TaxGuru.

Income Tax | Survey Surrender is Business Income, ITAT Chandigarh Rejects 115BBE Rate

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 09:52:17 +0000

ITAT Chandigarh holds ₹1 crore survey surrender as business income and rejects 60% Section 115BBE rate for AY 2017-18.

The post Survey Surrender is Business Income, ITAT Chandigarh Rejects 115BBE Rate appeared first on TaxGuru.

Corporate Law | Supreme Court Treats Blind Employee as 100% Functionally Disabled, Awards ₹3.78 Crore

CA Vijayakumar Shetty — Mon, 07 Sep 2026 09:45:50 +0000

Supreme Court upholds multiplier based on deceased's age and addresses compensation in connected Priyanka Das appeals.

The post Supreme Court Treats Blind Employee as 100% Functionally Disabled, Awards ₹3.78 Crore appeared first on TaxGuru.

Income Tax | ITAT Deletes Section 50C Addition as 10% Tolerance Limit Applies Retrospectively

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 09:39:07 +0000

ITAT Kolkata deletes ₹9.94 lakh Section 50C addition, holding 10% tolerance limit retrospectively applicable where DVO valuation difference was only 8.50%.

The post ITAT Deletes Section 50C Addition as 10% Tolerance Limit Applies Retrospectively appeared first on TaxGuru.

Income Tax | Madras HC Sets Aside 245D(4) Rejection for Bias and Denial of Hearing

CA Vijayakumar Shetty — Mon, 07 Sep 2026 09:35:12 +0000

Madras High Court sets aside Settlement Commission rejection, finds denial of hearing and bias, and remands the application to the Interim Board.

The post Madras HC Sets Aside 245D(4) Rejection for Bias and Denial of Hearing appeared first on TaxGuru.

Income Tax | No Section 41(1) or 68 Addition on Suspicion: ITAT Mumbai

CA Ajay Kumar Agrawal — Mon, 07 Sep 2026 09:31:21 +0000

ITAT Mumbai deletes ₹6.00 crore section 41(1) and ₹44.28 lakh section 68 additions, holding no cessation or unexplained loan was proved.

The post No Section 41(1) or 68 Addition on Suspicion: ITAT Mumbai appeared first on TaxGuru.

CA, CS, CMA | 161 Legal Compliances and Legal Updates for Sep-2026 in India

CA Satish Agarwal — Mon, 07 Sep 2026 09:19:42 +0000

Complete September 2026 India legal compliance calendar covering FEMA, Income Tax, GST, SEBI, Companies Act, SEZ, STPI, labour and RERA obligations.

The post 161 Legal Compliances and Legal Updates for Sep-2026 in India appeared first on TaxGuru.

Company Law | 41 FAQs on SFIO-ED nexus for investigations and Adjudications across India

CA Satish Agarwal — Mon, 07 Sep 2026 09:18:25 +0000

SFIO and ED can investigate the same factual matrix under distinct statutes; key principles, adjudication tracks and judicial position explained.

The post 41 FAQs on SFIO-ED nexus for investigations and Adjudications across India appeared first on TaxGuru.

Income Tax | Tax Audit FY 2025-26: Section 44AB, Form 3CD Nuances & AY 2026-27 Changes

CA Gagandeep Saluja — Mon, 07 Sep 2026 09:15:02 +0000

Tax audit FY 2025-26: key Section 44AB, Form 3CD, MSME, PF, cash transaction and new Income-tax Act 2025 compliance nuances.

The post Tax Audit FY 2025-26: Section 44AB, Form 3CD Nuances & AY 2026-27 Changes appeared first on TaxGuru.

Corporate Law | OSH Rules 2026: Mine Safety, Medical Fitness, Rescue & Training Compliance

Lalit Babbar — Mon, 07 Sep 2026 09:13:47 +0000

OSH Rules 2026 strengthen mine safety through qualified managers, medical fitness, safety committees, rescue preparedness and competency-based training.

The post OSH Rules 2026: Mine Safety, Medical Fitness, Rescue & Training Compliance appeared first on TaxGuru.

Goods and Services Tax | Section 194Q vs 206C(1H): TDS & TCS on High-Value Goods Transactions

Compliance Calendar LLP — Mon, 07 Sep 2026 09:12:30 +0000

Understand Section 194Q and 206C(1H, covering TDS, TCS, thresholds, rates, applicability, interplay and withdrawal of Section 206C(1H).

The post Section 194Q vs 206C(1H): TDS & TCS on High-Value Goods Transactions appeared first on TaxGuru.

Income Tax | Income Tax & GST Dahi Handi: Five Layers of the Tax Pyramid

Umesh Sharma — Mon, 07 Sep 2026 09:10:13 +0000

A Dahi Handi-style guide to five layers of Income Tax and GST, covering presumptive tax, TDS, ITC, returns, reconciliation and annual compliance.

The post Income Tax & GST Dahi Handi: Five Layers of the Tax Pyramid appeared first on TaxGuru.

Income Tax | HUF Tax Rules 2026-27: New Regime, Slabs, Deductions & Tax Planning

Dr. Suresh Surana — Mon, 07 Sep 2026 09:06:56 +0000

HUF tax rules for Tax Year 2026-27 covering new-regime slabs, deductions, rebate, regime switching, Rule 136 and tax planning.

The post HUF Tax Rules 2026-27: New Regime, Slabs, Deductions & Tax Planning appeared first on TaxGuru.

Goods and Services Tax | No E-Way Bill on an Internal Stock Transfer? No Section 129 Penalty Either

CA MEET JADAWALA — Mon, 07 Sep 2026 09:04:12 +0000

Kerala GSTAT holds Section 129 penalty cannot apply to same-GSTIN stock transfers without an e-way bill where no tax is payable.

The post No E-Way Bill on an Internal Stock Transfer? No Section 129 Penalty Either appeared first on TaxGuru.

SEBI | SEBI to Review Derivative Settlement Price Methodology After CAS Rollout

Editor — Mon, 07 Sep 2026 08:49:22 +0000

SEBI proposes to review derivative contract settlement price methodology following implementation of the Closing Auction Session (CAS).

The post SEBI to Review Derivative Settlement Price Methodology After CAS Rollout appeared first on TaxGuru.

Corporate Law | Sugar Stock Limit Reduced to 2,000 Quintals; Kolkata Allowed 4,000 Quintals

Editor — Mon, 07 Sep 2026 08:14:56 +0000

Centre cuts sugar stock limit to 2,000 quintals from 15 September 2026, while allowing up to 4,000 quintals in Kolkata’s extended metro areas.

The post Sugar Stock Limit Reduced to 2,000 Quintals; Kolkata Allowed 4,000 Quintals appeared first on TaxGuru.

Fema / RBI | FEMA Non-Debt Instruments Fourth Amendment Rules 2026 Permit Inventory E-Commerce Exports

Editor — Mon, 07 Sep 2026 07:54:19 +0000

Fourth Amendment to FEMA Non-Debt Instruments Rules, 2019 permits inventory-based e-commerce exports of Indian-made goods subject to FTP 2023.

The post FEMA Non-Debt Instruments Fourth Amendment Rules 2026 Permit Inventory E-Commerce Exports appeared first on TaxGuru.

Corporate Law | ECLGS 5.0: ₹2.55 Lakh Crore Credit Support for MSMEs, Non-MSMEs and Airlines

editor8 — Mon, 07 Sep 2026 07:53:29 +0000

PIB Backgrounder details ECLGS 5.0, offering government-backed credit guarantees, additional working capital and support to MSMEs, non-MSMEs and airlines.

The post ECLGS 5.0: ₹2.55 Lakh Crore Credit Support for MSMEs, Non-MSMEs and Airlines appeared first on TaxGuru.

Corporate Law | CCPA Imposes ₹10 Lakh Penalty on Dial4Trade for Online Listing and Sale of Ammonium Nitrate Without Mandatory Safeguards

editor8 — Mon, 07 Sep 2026 07:47:51 +0000

CCPA penalises Dial4Trade ₹10 lakh for listing and facilitating sale of Ammonium Nitrate without licence verification, buyer checks and safety disclosures.

The post CCPA Imposes ₹10 Lakh Penalty on Dial4Trade for Online Listing and Sale of Ammonium Nitrate Without Mandatory Safeguards appeared first on TaxGuru.

Corporate Law | EPFO Invites PF Trusts to Seek Retrospective Exemption Regularisation under EPF Scheme 2026 Amnesty

Editor — Mon, 07 Sep 2026 07:46:03 +0000

EPFO invites eligible PF Trusts to seek retrospective regularisation of exempt status under EPF Scheme 2026 Amnesty provisions by 28 December 2026.

The post EPFO Invites PF Trusts to Seek Retrospective Exemption Regularisation under EPF Scheme 2026 Amnesty appeared first on TaxGuru.

Income Tax | Chennai ITAT Quashes U/s 143(3) r.w.s. 144C Order on Dissolved Company

CA Vijayakumar Shetty — Mon, 07 Sep 2026 07:45:34 +0000

Chennai ITAT quashes assessment framed on a non-existent amalgamating company, holding it a substantive illegality not curable under section 292B.

The post Chennai ITAT Quashes U/s 143(3) r.w.s. 144C Order on Dissolved Company appeared first on TaxGuru.

Corporate Law | EPFO VISHWAS 2026 Scheme Offers Reduced EPF Damages for Long-Pending Disputes

Editor — Mon, 07 Sep 2026 07:44:23 +0000

EPFO urges eligible establishments to settle long-pending EPF damages disputes under VISHWAS, 2026 at substantially reduced rates by 28 December 2026.

The post EPFO VISHWAS 2026 Scheme Offers Reduced EPF Damages for Long-Pending Disputes appeared first on TaxGuru.

Corporate Law | IRDAI Warns Public Against Fraudulent Website Impersonating Bima Bharosa/IGMS

Editor — Mon, 07 Sep 2026 07:44:06 +0000

IRDAI cautions policyholders against igmsirdai.online and urges use of only the official Bima Bharosa portal for insurance grievances.

The post IRDAI Warns Public Against Fraudulent Website Impersonating Bima Bharosa/IGMS appeared first on TaxGuru.

CA, CS, CMA | ICAI President’s Message: Advancing Financial Literacy, Global Professional Pathways & Financial Empowerment

Editor — Mon, 07 Sep 2026 07:43:38 +0000

ICAI President highlights financial literacy, global mobility, IFSC opportunities, public finance, tax, audit quality and professional initiatives for 2026.

The post ICAI President’s Message: Advancing Financial Literacy, Global Professional Pathways & Financial Empowerment appeared first on TaxGuru.

Income Tax | Compensation Received Six Years Late: Karnataka HC Directs Condonation for TDS Refund

CA Vijayakumar Shetty — Mon, 07 Sep 2026 07:24:55 +0000

Karnataka HC directs PCIT to decide Section 119(2)(b) delay condonation where land acquisition compensation was received after title dispute resolution.

The post Compensation Received Six Years Late: Karnataka HC Directs Condonation for TDS Refund appeared first on TaxGuru.

Company Law | Annual ROC Compliance 2026: Beyond AOC-4 and MGT-7

CA Nitesh Kumar — Mon, 07 Sep 2026 07:15:53 +0000

Annual ROC compliance FY 2025-26 covering AGM, AOC-4, MGT-7, KYC, XBRL, DPT-3, MSME-1, penalties and pre-filing reconciliation.

The post Annual ROC Compliance 2026: Beyond AOC-4 and MGT-7 appeared first on TaxGuru.

Goods and Services Tax | Calcutta HC Allows Extension of ITC Rectification Time Under Section 16(5)

CA Sandeep Kanoi — Mon, 07 Sep 2026 07:14:08 +0000

Calcutta High Court quashes ITC rectification rejection, holding notification timelines cannot override Section 16(5) of the CGST Act.

The post Calcutta HC Allows Extension of ITC Rectification Time Under Section 16(5) appeared first on TaxGuru.

Income Tax | ITAT Chennai Rejects DR Objection Over Counsel’s CIC Appearance

CA Vijayakumar Shetty — Mon, 07 Sep 2026 07:12:26 +0000

ITAT Chennai rejects the conflict objection, remands ₹80.32 lakh management fee TP issue, upholds 80IA relief and disallows delayed PF/ESI.

The post ITAT Chennai Rejects DR Objection Over Counsel’s CIC Appearance appeared first on TaxGuru.

CA, CS, CMA | CA Association Seeks Extension of Tax Audit and ITR Due Dates for AY 2026-27

editor7 — Mon, 07 Sep 2026 07:05:11 +0000

Chartered Accountants Association Jalandhar requests extension of Tax Audit Reports, Forms 10B/10BB and audit-related ITR due dates for AY 2026-27.

The post CA Association Seeks Extension of Tax Audit and ITR Due Dates for AY 2026-27 appeared first on TaxGuru.

Fema / RBI | RBI Notification: UNSC 1988 (2011) Taliban Sanctions List — Amendment of 01 Entry

editor7 — Mon, 07 Sep 2026 06:44:37 +0000

RBI notifies regulated entities of the amendment to one entry in the UNSC 1988 (2011) Taliban Sanctions List under Section 51A of UAPA, 1967, and directs strict compliance with applicable sanctions procedures.

The post RBI Notification: UNSC 1988 (2011) Taliban Sanctions List — Amendment of 01 Entry appeared first on TaxGuru.

Income Tax | Bombay HC Upholds Deduction for Scientifically Estimated Major Repairs Provision

CA Sandeep Kanoi — Mon, 07 Sep 2026 06:38:41 +0000

Bombay High Court holds provision for major road repairs allowable where contractual liability is certain and estimate is scientifically reliable.

The post Bombay HC Upholds Deduction for Scientifically Estimated Major Repairs Provision appeared first on TaxGuru.

Goods and Services Tax | GST Appeal Filed Before Section 107 Order Is Passed Not Maintainable: GSTAT Chennai

CA Sandeep Kanoi — Mon, 07 Sep 2026 06:37:57 +0000

GSTAT Chennai held that a Section 112 appeal filed before the first appellate order existed was not maintainable, dismissing it with liberty to refile.

The post GST Appeal Filed Before Section 107 Order Is Passed Not Maintainable: GSTAT Chennai appeared first on TaxGuru.

Goods and Services Tax | Bombay HC Declines Interim Relief Over GST Recovery Citing Unjustified Delay

CA Sandeep Kanoi — Mon, 07 Sep 2026 06:37:27 +0000

Bombay HC rejects interim relief to Best Agrolife over GST recovery notices, citing delay, while seeking Revenue’s response on ignored representations.

The post Bombay HC Declines Interim Relief Over GST Recovery Citing Unjustified Delay appeared first on TaxGuru.

Income Tax | Pune ITAT Restores ₹1.73-Crore Penalty U/s 271(1)(c) on Capital Expenditure Claim

CA Vijayakumar Shetty — Mon, 07 Sep 2026 06:00:54 +0000

ITAT Pune restores ₹1.73 crore penalty after holding retiring partner settlement payment was capital expenditure and inaccurate particulars were furnished.

The post Pune ITAT Restores ₹1.73-Crore Penalty U/s 271(1)(c) on Capital Expenditure Claim appeared first on TaxGuru.

Income Tax | Pune ITAT Quashes Reassessment Over ₹1.47-Crore Deposits and u/s 80P Addition

CA Vijayakumar Shetty — Mon, 07 Sep 2026 06:00:37 +0000

ITAT Pune quashes reassessment after no addition on cash and time deposits, holding section 80P disallowance was an unrelated new issue.

The post Pune ITAT Quashes Reassessment Over ₹1.47-Crore Deposits and u/s 80P Addition appeared first on TaxGuru.

Goods and Services Tax | GSTAT Finds Nil Profiteering as Cost Escalation Offsets GST ITC Benefit

CA Sandeep Kanoi — Mon, 07 Sep 2026 05:57:28 +0000

GSTAT accepts DGAP's revised computation and finds nil profiteering after construction cost escalation offsets additional ITC benefit.

The post GSTAT Finds Nil Profiteering as Cost Escalation Offsets GST ITC Benefit appeared first on TaxGuru.

Goods and Services Tax | GSTAT Upholds EGVs as Valid GST Benefit Transfer, Orders ₹10,241 Fund Deposit

CA Sandeep Kanoi — Mon, 07 Sep 2026 05:56:57 +0000

GSTAT accepts EGVs as valid GST benefit transfer but directs Sane Retails to deposit ₹10,241 with 18% interest in Consumer Welfare Fund.

The post GSTAT Upholds EGVs as Valid GST Benefit Transfer, Orders ₹10,241 Fund Deposit appeared first on TaxGuru.

Goods and Services Tax | 57th GST Council Meeting Rescheduled to October 7, 2026: Legal Analysis

MUKESH SIKARWAR — Mon, 07 Sep 2026 05:52:50 +0000

57th GST Council Meeting has been rescheduled to October 7, 2026, due to the BRICS Summit, with implications for GST stakeholders.

The post 57th GST Council Meeting Rescheduled to October 7, 2026: Legal Analysis appeared first on TaxGuru.

SEBI | SEBI Wants Less Scrutiny of AIF Trustees. Does Its Own Enforcement Record Say Otherwise?

Niyati Arun — Mon, 07 Sep 2026 05:51:32 +0000

SEBI's AIF Trustee enforcement record raises questions over its proposal to exclude Trustee-related transactions from investor-consent scrutiny.

The post SEBI Wants Less Scrutiny of AIF Trustees. Does Its Own Enforcement Record Say Otherwise? appeared first on TaxGuru.

Income Tax | Cash System u/s 145(1) Accepted, Interest Nexus u/s 57(iii) Must Be Proved

CA Vijayakumar Shetty — Mon, 07 Sep 2026 05:41:09 +0000

ITAT Hyderabad remands interest deduction claim for verification of IIFL loan utilisation, nexus with interest income and cash accounting.

The post Cash System u/s 145(1) Accepted, Interest Nexus u/s 57(iii) Must Be Proved appeared first on TaxGuru.

Corporate Law | CCI Rejects Interim Relief as DG Investigation Into Competition Claims Remains Pending

CA Sandeep Kanoi — Mon, 07 Sep 2026 05:39:52 +0000

CCI rejects interim relief sought against allegedly restrictive clauses, holding that granting it during the pending DG investigation would pre-judge the issues.

The post CCI Rejects Interim Relief as DG Investigation Into Competition Claims Remains Pending appeared first on TaxGuru.

Corporate Law | DNA Evidence Establishes Paternity, Not Consent: Delhi HC Upholds Acquittal

Sanjeev Sirohi — Mon, 07 Sep 2026 05:35:29 +0000

Delhi HC holds DNA proves sexual intercourse, not consent, and upholds acquittal where prosecution evidence leaves reasonable doubt.

The post DNA Evidence Establishes Paternity, Not Consent: Delhi HC Upholds Acquittal appeared first on TaxGuru.

Income Tax | Wrong Approval Quashes Reassessment, Penalty U/s 270A: Hyderabad ITAT

CA Vijayakumar Shetty — Mon, 07 Sep 2026 05:30:54 +0000

Wrong Sanction Sinks Reassessment, Penalty Goes Down With the Ship: Hyderabad ITAT Quashes Penalty u/s 270A Where Notice u/s 148 Lacked Approval of Specified Authority u/s 151

The post Wrong Approval Quashes Reassessment, Penalty U/s 270A: Hyderabad ITAT appeared first on TaxGuru.

Goods and Services Tax | GST ITC on Immovable Property: Eligibility & Risks

Roopa Nayak — Sun, 06 Sep 2026 15:47:18 +0000

GST ITC on immovable property: Section 17(5) restrictions, movable-versus-immovable tests, plant and machinery exceptions, and contract safeguards.

The post GST ITC on Immovable Property: Eligibility & Risks appeared first on TaxGuru.

Income Tax | Builder Delay Can Trigger TDS Interest for Homebuyers

CA Abhishek Aggarwal — Sun, 06 Sep 2026 15:31:42 +0000

Homebuyers must deduct TDS on every property installment. Delayed builder intimation can result in interest, notices and filing complications.

The post Builder Delay Can Trigger TDS Interest for Homebuyers appeared first on TaxGuru.

Goods and Services Tax | Vague Fraud Allegation Cannot Invoke GST Section 74: SC

CA Abhishek Aggarwal — Sun, 06 Sep 2026 15:27:50 +0000

Supreme Court quashes a GST notice invoking Section 74 as mere use of fraud or suppression without supporting particulars is insufficient.

The post Vague Fraud Allegation Cannot Invoke GST Section 74: SC appeared first on TaxGuru.

Goods and Services Tax | GSTAT Restores Section 129 Penalty for Iron Scrap Moved Without E-Way Bill

CA Sandeep Kanoi — Sun, 06 Sep 2026 15:09:56 +0000

GSTAT Lucknow restores tax and equal penalty under Section 129(3) for iron scrap transported without an E-Way Bill.

The post GSTAT Restores Section 129 Penalty for Iron Scrap Moved Without E-Way Bill appeared first on TaxGuru.

Service Tax | Separate Supply and ECIS Contracts Not Works Contracts: CESTAT Delhi

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:54:50 +0000

CESTAT holds separate material-supply and erection contracts are not works contracts; free supplies remain excluded from assessable value.

The post Separate Supply and ECIS Contracts Not Works Contracts: CESTAT Delhi appeared first on TaxGuru.

Goods and Services Tax | Allahabad HC Grants Bail in GST Fraud Case Involving Non-Existing Firm

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:53:46 +0000

Allahabad High Court grants bail to Waseem Akram in alleged GST fraud case involving non-existing firm M/s Super Power Industries, noting the applicant was not named in the FIR.

The post Allahabad HC Grants Bail in GST Fraud Case Involving Non-Existing Firm appeared first on TaxGuru.

Service Tax | CESTAT Holds Municipal Hoarding Space Taxable, But Quashes Extended-Period Service Tax Demand

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:53:14 +0000

CESTAT holds municipal hoarding space and commercial property rentals taxable, but sets aside extended-period demand for lack of suppression.

The post CESTAT Holds Municipal Hoarding Space Taxable, But Quashes Extended-Period Service Tax Demand appeared first on TaxGuru.

Income Tax | MEIS Rewards Taxable as Revenue Receipt from AY 2016-17: ITAT Mumbai

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:51:47 +0000

ITAT Mumbai Special Bench holds MEIS rewards taxable as revenue receipts under Section 2(24)(xviii) from AY 2016-17.

The post MEIS Rewards Taxable as Revenue Receipt from AY 2016-17: ITAT Mumbai appeared first on TaxGuru.

Income Tax | Gujarat HC Dismisses Reassessment Appeal Where Recorded Reasons Produced No Addition

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:43:01 +0000

Gujarat HC holds Explanation 3 to Section 147 cannot cure reassessment where no addition is made on the recorded reasons.

The post Gujarat HC Dismisses Reassessment Appeal Where Recorded Reasons Produced No Addition appeared first on TaxGuru.

Income Tax | Section 272A(2)(e) Penalty Cannot Continue Beyond Section 139(4): Chennai ITAT

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:41:02 +0000

Chennai ITAT restricts section 272A(2)(e) penalty to the period available for filing a belated return under section 139(4).

The post Section 272A(2)(e) Penalty Cannot Continue Beyond Section 139(4): Chennai ITAT appeared first on TaxGuru.

Income Tax | ITR Upload Failure: Madras HC Accepts Screenshot, Orders Portal Access

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:39:43 +0000

Madras High Court sets aside the 16.07.2026 demand and directs the Income Tax Department to reopen the portal for filing the AY 2015-16 return.

The post ITR Upload Failure: Madras HC Accepts Screenshot, Orders Portal Access appeared first on TaxGuru.

Income Tax | ITAT Directs Interest-First Income Tax Refund Adjustment Under Section 244A

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:38:49 +0000

Mumbai ITAT holds refund must first adjust interest due under Section 244A before principal tax, dismissing Revenues appeals.

The post ITAT Directs Interest-First Income Tax Refund Adjustment Under Section 244A appeared first on TaxGuru.

Custom Duty | Customs Duty Demand for Alleged Fake DEEC Exports Set Aside by CESTAT Chennai

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:31:57 +0000

CESTAT Chennai sets aside customs duty, interest and penalties as alleged diversion and fraudulent DEEC exports lacked corroborative evidence.

The post Customs Duty Demand for Alleged Fake DEEC Exports Set Aside by CESTAT Chennai appeared first on TaxGuru.

Custom Duty | SC Sets Aside ₹425 Crore Customs Penalty Due to Fake AI-Generated Case Laws

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:30:35 +0000

Supreme Court sets aside ₹425-crore customs penalty after AI-generated fake citations tainted the adjudication and orders fresh decision.

The post SC Sets Aside ₹425 Crore Customs Penalty Due to Fake AI-Generated Case Laws appeared first on TaxGuru.

Goods and Services Tax | Madras HC Upholds Negative Blocking of Electronic Credit Ledger Under Section 79

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:25:40 +0000

Madras HC holds Section 79 permits negative blocking of electronic credit ledger at the post-determination recovery stage.

The post Madras HC Upholds Negative Blocking of Electronic Credit Ledger Under Section 79 appeared first on TaxGuru.

Income Tax | Kerala HC Remands Medical PG Stipend vs Salary Dispute for Fresh Assessment

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:25:10 +0000

Kerala HC sets aside assessment and remands stipend-versus-salary dispute for fresh consideration after giving the assessee an opportunity to produce documents.

The post Kerala HC Remands Medical PG Stipend vs Salary Dispute for Fresh Assessment appeared first on TaxGuru.

Income Tax | ITAT Kolkata Remands JDA Capital Gains Dispute for Fresh Merits Adjudication

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:23:15 +0000

ITAT Kolkata set aside the CIT(A) order and restored a JDA capital gains dispute for fresh merits adjudication in AY 2015-16.

The post ITAT Kolkata Remands JDA Capital Gains Dispute for Fresh Merits Adjudication appeared first on TaxGuru.

Goods and Services Tax | Allahabad HC Quashes GST Order for Notice Served Only Through Portal After Cancellation

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:18:06 +0000

Allahabad HC quashes GST order for natural justice violation where notice was uploaded only on portal after registration cancellation.

The post Allahabad HC Quashes GST Order for Notice Served Only Through Portal After Cancellation appeared first on TaxGuru.

Goods and Services Tax | Madras HC Closes GST Limitation Challenges After State Tax Officer Report

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:16:19 +0000

Madras High Court closes two GST limitation challenges and disposes third after State Tax Officer’s 27.01.2026 report prima facie supports petitioner.

The post Madras HC Closes GST Limitation Challenges After State Tax Officer Report appeared first on TaxGuru.

Goods and Services Tax | Rajasthan HC Allows Delayed GST Appeal Citing Medical Reasons Beyond Taxpayer’s Control

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:15:24 +0000

Rajasthan High Court condoned GST appeal delay citing medical reasons beyond the petitioner’s control and directed decision on merits.

The post Rajasthan HC Allows Delayed GST Appeal Citing Medical Reasons Beyond Taxpayer’s Control appeared first on TaxGuru.

Goods and Services Tax | Rule 86A Safeguards Mandatory for ITC Blocking: Rajasthan HC

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:14:41 +0000

Rajasthan High Court finds mandatory Rule 86A requirements were not followed in blocking ITC and warns against future non-compliant action.

The post Rule 86A Safeguards Mandatory for ITC Blocking: Rajasthan HC appeared first on TaxGuru.

Service Tax | CESTAT Allows CENVAT Refund Where Credit Was Not Challenged Under Rule 14

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:13:50 +0000

CESTAT Chandigarh allows Agilent’s CENVAT refund, holding Rule 5 refund cannot be denied where credit was not challenged under Rule 14.

The post CESTAT Allows CENVAT Refund Where Credit Was Not Challenged Under Rule 14 appeared first on TaxGuru.

Service Tax | CESTAT Hyderabad Sets Aside Tax on Pharma Regulatory Approval Support Services

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:08:53 +0000

CESTAT Hyderabad set aside service tax on foreign bank charges and regulatory documentation, holding no recipient relationship and no scientific consultancy classification.

The post CESTAT Hyderabad Sets Aside Tax on Pharma Regulatory Approval Support Services appeared first on TaxGuru.

Custom Duty | CESTAT Mumbai Deletes Section 112(a) Penalty on Customs Hawaldar for Lack of Proof

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:06:44 +0000

CESTAT Mumbai sets aside Section 112(a) penalties on a deceased Customs Hawaldar where co-accused statements and phone records did not establish involvement.

The post CESTAT Mumbai Deletes Section 112(a) Penalty on Customs Hawaldar for Lack of Proof appeared first on TaxGuru.

Goods and Services Tax | Patna HC Remits Nukkad Natak GST Exemption Issue to Appellate Authority

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:05:47 +0000

Patna High Court sets aside a delayed GST appeal order and directs the Appellate Authority to decide the Nukkad Natak exemption issue on merits.

The post Patna HC Remits Nukkad Natak GST Exemption Issue to Appellate Authority appeared first on TaxGuru.

Income Tax | Section 54 Shortfall Not Taxable in Original Year: Mumbai ITAT Deletes Penalty

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:05:03 +0000

Mumbai ITAT holds Section 54 shortfall was not taxable in AY 2014-15 and deletes penalty of Rs.5,25,923 under Section 271(1)(c).

The post Section 54 Shortfall Not Taxable in Original Year: Mumbai ITAT Deletes Penalty appeared first on TaxGuru.

Goods and Services Tax | GSTAT Remands GSTR-3B and GSTR-2A ITC Mismatch for Fresh Verification

CA Sandeep Kanoi — Sun, 06 Sep 2026 10:00:46 +0000

GSTAT Bengaluru remands an FY 2018-19 ITC mismatch dispute for invoice-wise verification, fresh adjudication and mandatory personal hearing.

The post GSTAT Remands GSTR-3B and GSTR-2A ITC Mismatch for Fresh Verification appeared first on TaxGuru.

Income Tax | Gujarat HC Allows Section 11(1A) Exemption to Charitable Trust, Quashes Section 264 Rejection

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:59:48 +0000

Gujarat HC held Section 11(1A) exemption could not be denied to a charitable trust merely because the claim was omitted from the return and allowed refund with interest.

The post Gujarat HC Allows Section 11(1A) Exemption to Charitable Trust, Quashes Section 264 Rejection appeared first on TaxGuru.

Income Tax | Bogus Purchases & Sales Cannot Justify Entire Purchase Addition; 5% GP Applied: Delhi ITAT

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:59:13 +0000

Delhi ITAT upholds reassessment based on survey information exposing bogus transactions, but restricts the addition on alleged bogus purchases by applying 5% gross profit on turnover and allowing credit for profit already disclosed.

The post Bogus Purchases & Sales Cannot Justify Entire Purchase Addition; 5% GP Applied: Delhi ITAT appeared first on TaxGuru.

Income Tax | ITAT Ahmedabad Dismisses Revenue Appeals on Goodwill, Electricity & Steam Valuation

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:58:28 +0000

ITAT Ahmedabad upheld depreciation claims and benchmarking of captive electricity and steam, dismissing Revenue appeals for AYs 2018-19 and 2020-21.

The post ITAT Ahmedabad Dismisses Revenue Appeals on Goodwill, Electricity & Steam Valuation appeared first on TaxGuru.

Income Tax | IBC Resolution Plan Bars Pending Pre-Approval Income Tax Proceedings: ITAT Mumbai

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:57:38 +0000

ITAT Mumbai allows assessee appeals and dismisses Revenue appeals, holding the approved IBC Resolution Plan barred continuation of pre-approval tax proceedings.

The post IBC Resolution Plan Bars Pending Pre-Approval Income Tax Proceedings: ITAT Mumbai appeared first on TaxGuru.

Income Tax | ITAT Jodhpur Deletes ₹3.36 Crore Section 69A Addition on Demonetisation Cash Deposits

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:54:30 +0000

ITAT Jodhpur upheld deletion of ₹3.36 crore Section 69A addition on cash deposits during demonetisation and ₹2.79 crore stock revaluation addition, accepting damaged guar gum valuation under AS-2.

The post ITAT Jodhpur Deletes ₹3.36 Crore Section 69A Addition on Demonetisation Cash Deposits appeared first on TaxGuru.

Income Tax | ITAT Delhi Upholds LIBOR Plus 300 Basis Points for Foreign-Currency Loans

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:53:38 +0000

ITAT Delhi dismisses both appeals, upholding LIBOR+300 for foreign-currency loans, excluding unsuitable comparables and deleting receivables and Section 14A adjustments.

The post ITAT Delhi Upholds LIBOR Plus 300 Basis Points for Foreign-Currency Loans appeared first on TaxGuru.

Income Tax | ITAT Deletes ₹4.26 Crore Section 14A Disallowance Against PNB Gilts

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:51:59 +0000

ITAT Delhi upheld relief to PNB Gilts on Section 14A, interest disallowance and ₹6.56 crore diminution in securities held as stock-in-trade.

The post ITAT Deletes ₹4.26 Crore Section 14A Disallowance Against PNB Gilts appeared first on TaxGuru.

Income Tax | ITAT Jodhpur Restores 12AB Registration Application for RPT Act Exemption Examination

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:48:43 +0000

ITAT Jodhpur restores 12AB and 80G applications, directing CIT(E) to examine exemption from Rajasthan Public Trust Act registration.

The post ITAT Jodhpur Restores 12AB Registration Application for RPT Act Exemption Examination appeared first on TaxGuru.

Income Tax | Section 263 Cannot Import Later Restrictions into AY 2022-23: ITAT Chennai

CA Sandeep Kanoi — Sun, 06 Sep 2026 09:48:15 +0000

ITAT Chennai quashes Section 263 revision, holding later Finance Act 2023 restrictions cannot govern AY 2022-23 loan repayment application.

The post Section 263 Cannot Import Later Restrictions into AY 2022-23: ITAT Chennai appeared first on TaxGuru.

Goods and Services Tax | Recent Updates in GST: A Review of Statutory, Administrative & Judicial Developments

CA. Keshav Kumar — Sun, 06 Sep 2026 09:36:03 +0000

Review major GST changes from September 2025 to September 2026 covering Finance Act amendments, rates, refunds, GSTAT appeals and judgments.

The post Recent Updates in GST: A Review of Statutory, Administrative & Judicial Developments appeared first on TaxGuru.

CA, CS, CMA | How Underpriced Audits Weaken Anti-Corruption Controls

Nikhil Tekariwal — Sun, 06 Sep 2026 04:40:56 +0000

Low fees, limited time and market concentration weaken audit quality. Here is how stronger audits can help India prevent corruption and protect savings.

The post How Underpriced Audits Weaken Anti-Corruption Controls appeared first on TaxGuru.

Goods and Services Tax | Why GST Department Targets Buyers Instead of Defaulting Sellers

CA Abhishek Aggarwal — Sat, 05 Sep 2026 19:56:50 +0000

Why are bona fide buyers denied GST input tax credit when sellers fail to deposit tax? Analysis of Sections 16(2)(c) and 76 of the CGST Act.

The post Why GST Department Targets Buyers Instead of Defaulting Sellers appeared first on TaxGuru.