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    August 18, 2026   NotificationsCustoms
    Customs tariff values for edible oils, metals and areca nuts are revised with effect from 15 August 2026.
    August 18, 2026   Case LawsGST
    GST recovery pending appeal: bank attachment lifted and coercive action restrained, while input tax credit merits await determination.
    August 18, 2026   Case LawsGST
    Supplier registration cancellation alone does not defeat input tax credit or justify custodial interrogation without evidence of purchaser collusion.
    August 18, 2026   Case LawsGST
    Penalty notice jurisdiction under UPGST turns on delegated authority and election of statutory appellate remedy.
    August 18, 2026   Case LawsGST
    Condonation of delay restored the GST appeal against retrospective registration cancellation for adjudication on merits.
    August 18, 2026   Case LawsGST
    Intra-firm stock transfers without taxable supply cannot trigger detention penalties solely for missing e-way bills.
    August 18, 2026   Case LawsGST
    Mandatory seven-day limitation for transit-goods penalty orders renders delayed detention penalties without jurisdiction under Section 129(3).
    August 18, 2026   Case LawsGST
    GST rate-reduction benefits on cinema tickets require commensurate price cuts; raising base prices to retain cum-tax fares breaches anti-profiteering ...
    August 18, 2026   Case LawsGST
    GST rate reduction benefits must lower cum-tax cinema ticket prices despite fare-regulation directions and proposed fares.
    August 18, 2026   Case LawsGST
    Tariff Notes prevail over trade parlance, classifying PTFE braided gland packing as plastic and subjecting it to GST.
    August 18, 2026   Case LawsIncome Tax
    Section 10B loss set-off remains available against other undertaking profits despite separate computation of export-profit deductions.
    August 18, 2026   Case LawsIncome Tax
    Electricity network contributions remain revenue expenditure where ownership and maintenance stay with the electricity board, supporting business prof...
    August 18, 2026   Case LawsIncome Tax
    Reassessment beyond four years fails where recorded reasons produce no addition and full disclosure conditions remain unmet.
    August 18, 2026   Case LawsIncome Tax
    Business loss carry-forward fails where intervening returns were not filed, preventing determination of unabsorbed losses for set-off.
    August 18, 2026   Case LawsIncome Tax
    Section 263 revision fails where completed inquiry shows no identifiable revenue prejudice from unsecured loans or trade payables.
    August 18, 2026   Case LawsIncome Tax
    TDS on cash withdrawals remains the bank's responsibility, and unsupported liens over customer accounts must be released.
    August 18, 2026   Case LawsIncome Tax
    Digital advertising and search optimisation costs remain revenue expenditure when they create no capital asset or enduring capital advantage.
    August 18, 2026   Case LawsIncome Tax
    Third-party search assessments fail after the statutory cut-off, while unrelated cash-acceptance penalties remain subject to strict limitation.
    August 18, 2026   Case LawsIncome Tax
    Interest expenditure linked to interest-bearing advances is deductible against taxable interest income when the borrowing nexus is established.
    August 18, 2026   Case LawsIncome Tax
    Consequential cash-receipt penalty fails when the underlying addition is deleted and seized material does not implicate the assessee.
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    August 18, 2026   Notifications Customs
    Customs tariff values for edible oils, metals and areca nuts are revised with effect from 15 August 2026.
    August 18, 2026   Case Laws GST
    GST recovery pending appeal: bank attachment lifted and coercive action restrained, while input tax credit merits await determination.
    August 18, 2026   Case Laws GST
    Supplier registration cancellation alone does not defeat input tax credit or justify custodial interrogation without evidence of purchaser collusion.
    August 18, 2026   Case Laws GST
    Penalty notice jurisdiction under UPGST turns on delegated authority and election of statutory appellate remedy.
    August 18, 2026   Case Laws GST
    Condonation of delay restored the GST appeal against retrospective registration cancellation for adjudication on merits.
    August 18, 2026   Case Laws GST
    Intra-firm stock transfers without taxable supply cannot trigger detention penalties solely for missing e-way bills.
    August 18, 2026   Case Laws GST
    Mandatory seven-day limitation for transit-goods penalty orders renders delayed detention penalties without jurisdiction under Section 129(3).
    August 18, 2026   Case Laws GST
    GST rate-reduction benefits on cinema tickets require commensurate price cuts; raising base prices to retain cum-tax fares breaches anti-profiteering rules.
    August 18, 2026   Case Laws GST
    GST rate reduction benefits must lower cum-tax cinema ticket prices despite fare-regulation directions and proposed fares.
    August 18, 2026   Case Laws GST
    Tariff Notes prevail over trade parlance, classifying PTFE braided gland packing as plastic and subjecting it to GST.
    August 18, 2026   Case Laws Income Tax
    Section 10B loss set-off remains available against other undertaking profits despite separate computation of export-profit deductions.
    August 18, 2026   Case Laws Income Tax
    Electricity network contributions remain revenue expenditure where ownership and maintenance stay with the electricity board, supporting business profitability.
    August 18, 2026   Case Laws Income Tax
    Reassessment beyond four years fails where recorded reasons produce no addition and full disclosure conditions remain unmet.
    August 18, 2026   Case Laws Income Tax
    Business loss carry-forward fails where intervening returns were not filed, preventing determination of unabsorbed losses for set-off.
    August 18, 2026   Case Laws Income Tax
    Section 263 revision fails where completed inquiry shows no identifiable revenue prejudice from unsecured loans or trade payables.
    August 18, 2026   Case Laws Income Tax
    TDS on cash withdrawals remains the bank's responsibility, and unsupported liens over customer accounts must be released.
    August 18, 2026   Case Laws Income Tax
    Digital advertising and search optimisation costs remain revenue expenditure when they create no capital asset or enduring capital advantage.
    August 18, 2026   Case Laws Income Tax
    Third-party search assessments fail after the statutory cut-off, while unrelated cash-acceptance penalties remain subject to strict limitation.
    August 18, 2026   Case Laws Income Tax
    Interest expenditure linked to interest-bearing advances is deductible against taxable interest income when the borrowing nexus is established.
    August 18, 2026   Case Laws Income Tax
    Consequential cash-receipt penalty fails when the underlying addition is deleted and seized material does not implicate the assessee.

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      Income Tax

      The ITAT upheld the Revision u/s 263 by PCIT, finding the AO's...

      PCIT found AO's assessment u/s 143(3) r.w.s. 153C erroneous. PCIT directipn for fresh assessment sustained.

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      Income TaxJune 15, 2024Case LawsAT
      The ITAT upheld the Revision u/s 263 by PCIT, finding the AO's assessment under section 143(3) r.w.s. 153C erroneous and prejudicial to Revenue. The unsigned assessment order in ITBA portal was deemed immaterial for invoking u/s 263. PCIT's direction for fresh assessment was justified as AO omitted to consider share profits. Proposed addition under u/s 69A was exempted u/s 10(2A) as firm was separately assessed. PCIT's direction on share of profit verification was upheld as no evidence showed it related to earlier years. PCIT's order was not cryptic and PCIT rightly found AO's assessment prejudicial to Revenue. The grounds challenging PCIT's decision were dismissed.
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