EaseValueITAT Hyderabad IL&FS Tax Appeals Dismissed 2026 | NCLAT Stay
In a significant development on 15 September 2026, ITAT Hyderabad has dismissed 14 tax appeals filed by IL&FS due to an ongoing NCLAT restraint order. This ruling highlights the intersection between insolvency proceedings and tax litigation—a critical issue for businesses caught in similar situations.
CBDT Approves IIT Roorkee Scientific Research Section 45 2026
In a significant move, the Central Board of Direct Taxes (CBDT) has approved IIT Roorkee for scientific research activities under Section 45 of the Income-tax Act, 2025. This approval covers assessment years 2026-27 to 2030-31, providing tax exemption benefits to the institution for five years.
India BoP July 2026: Tax Impact on NRI & Foreign Investment
India's Balance of Payments data for July 2026 reveals significant movements in NRI deposits, foreign investments, and cross-border transactions. This recent update has direct tax implications for NRI assessees, foreign companies investing in India, and Indian exporters.
Redevelopment PAA Tenancy Rights ITAT 2026 | Income Tax Ruling
This is a recent September 2026 ITAT Mumbai ruling that provides significant relief to property owners. The tribunal held that redevelopment PAA (possession after amendment) received against surrender of tenancy rights was not without consideration, deleting a Rs.33.41 lakh addition under Section 56(2)(vii)(b).
Government Stock Auction Results 2026 - Tax Implications for Investors
The recent government stock auction results (September 2026) show strong investor participation across three securities. Here's what taxpayers and investors need to know about tax treatment of government securities income.
Section 69A Addition Deleted by ITAT Delhi 2026 | Loan Repayment
In a significant ruling for AY 2026-27, ITAT Delhi has deleted a Section 69A addition where the assessee had taken a loan earlier and repaid it through proper banking channels. This recent judgment clarifies that the Income Tax Department cannot make arbitrary additions when clear documentary evidence of legitimate loan transactions exists.
RBI Extends Banking Regulation Directive 2026 – Tax Impact
The Reserve Bank of India has extended operational directives for Loknete R.D. (Appa) Kshirsagar Sahakari Bank Ltd. until December 16, 2026. This extension affects deposit holders and creditors under Income Tax Act 2025 provisions related to bad debts and financial losses.
InvIT Investment Manager Board Appointment Rights 2025-26 | Corporate Control
A recent SEBI interpretation has clarified whether an InvIT Investment Manager becomes a holding company merely by appointing directors to SPVs. This September 2026 update affects how InvIT structures are taxed under Income Tax Act 2025 for AY 2025-26 onwards.
JAO Section 148 Reassessment 2026: ITAT Chennai Remands After Amendment
ITAT Chennai has restored a reassessment appeal after the Finance Act 2026 retrospectively amended provisions that had voided the CIT(A)'s order. This recent ruling impacts how reassessment notices under Section 148 can be challenged when tax laws change mid-proceedings.
Section 271D Penalty Quashed Beyond Limitation 2026 | ITAT Chennai
In a significant ruling, ITAT Chennai has quashed a ₹3 lakh penalty under section 271D that was imposed beyond the statutory six-month limitation period prescribed under section 275(1)(c) of the Income Tax Act 2025. This ruling provides critical protection to taxpayers against delayed penalty orders.
Section 148 Notice to Deceased Assessee Null & Void: Bombay HC 2026
In a landmark ruling, Bombay High Court has declared a Section 148 notice issued in the name of a deceased assessee as null and void. This recent judgment (Sep 2026) provides critical protection to the estates and legal representatives of deceased taxpayers.
Section 147A Struck Down 2026 | JAO Cannot Issue Section 148 Notice
In a landmark September 2026 ruling, Punjab & Haryana High Court has struck down Section 147A and quashed Section 148 notices issued by JAOs, holding that the faceless reassessment scheme has been breached. This is significant relief for taxpayers facing reassessment proceedings.
Have a tax question? Our CA will reply within 30 mins.
💬 Ask on WhatsApp