EaseValueNaBFID Zero Coupon Bond 2026: CBDT Notification & Tax Benefits
The CBDT has officially notified the National Bank for Financing Infrastructure and Development (NaBFID) ten-year zero coupon bond in July 2026. This notification clarifies the tax treatment and investment guidelines for individual and corporate investors under the Income Tax Act 2025.
CBDT Approves IIIT Dharwad Scientific Research Section 45 2026
In a significant recent development (July 2026), the Central Board of Direct Taxes (CBDT) has formally approved IIIT Dharwad for scientific research activities under Section 45 of the Income-tax Act, 2025. This approval brings important tax implications and compliance requirements for the institution and related donors.
NPCIL Asset Transfer to ASHVINI Tax-Neutral 2026 Section 47
CBDT has issued Notification No. 91/2026 making NPCIL's capital asset transfer to ASHVINI completely tax-neutral under section 47(viiaf) of Income Tax Act 2025 for FY 2025-26 (AY 2026-27). This is a significant development for government undertakings and strategic asset reorganization.
Delayed GST Appeal Heard on Merits 2026 - Karnataka HC Ruling
In a significant July 2026 ruling, Karnataka High Court has permitted a delayed GST appeal to be heard on merits, directing appellate authorities to ignore limitation objections. This is a major relief for businesses facing delayed appeals against Section 73 GST orders.
Karnataka HC GST ITC Relief 2026 - Rental Income Dispute Ruling
Karnataka High Court has granted interim relief in Section 74 GST proceedings involving disputed Input Tax Credit on rental income. Taxpayers must maintain 10% of the disputed ITC in their Electronic Credit Ledger as a condition of this relief.
ITAT Delhi Quashes Assessment: ACIT Lacks Section 143(2) Notice Jurisdiction 2026
In a significant July 2026 ruling, ITAT Delhi has quashed an entire assessment after finding that the ACIT (Assistant Commissioner of Income Tax) lacked jurisdiction to issue the Section 143(2) notice. This landmark judgment protects taxpayers from procedurally defective assessments.
Section 143(2) Notice Invalid: ITAT Delhi Quashes Assessment 2026
A recent ITAT Delhi judgment has declared that scrutiny assessments are void when Section 143(2) notices are issued by an ITO lacking pecuniary jurisdiction under CBDT guidelines. This is a major win for taxpayers facing invalid assessments in AY 2025-26 and beyond.
Section 12AB Registration Denied Trust 2026: ITAT Ruling Explained
In a significant ruling from July 2026, ITAT Ahmedabad has denied Section 12AB registration to a trust created after 1 April 2021, holding that its objects were intended for a particular community. This decision impacts how charitable trusts must structure their objectives.
Section 12AB Registration Rejected 2026: ITAT Mumbai Ruling on Foreign Activities
In a significant July 2026 ruling, ITAT Mumbai rejected final registration under Section 12AB and 80G where the organisation's objects permitted support to entities outside India. This impacts NGO registration conversions and fundraising eligibility.
Customs Duty Demand Time-Barred 2026: CESTAT Ruling on FTA Benefits
In a significant July 2026 ruling, CESTAT Ahmedabad has set aside a customs duty demand on imported alkalised cocoa powder, holding that the extended limitation period under Section 28(4) was not applicable. This judgment provides crucial protection to importers against time-barred duty demands.
Block Assessment Quashed: Section 143(2) Notice Mandatory in 2026
A recent Delhi High Court ruling has quashed a block assessment under Section 158BC, ruling that a Section 143(2) notice is mandatory before conducting search-based assessments. This 2026 judgment significantly protects taxpayers' rights during income tax searches.
Redeveloped Flat LTCG Relief 2026: Section 54/54F & Indexation Benefit
In a significant ruling from July 2026, ITAT Mumbai has held that a redeveloped flat is treated as a continuation of the original asset, allowing sellers to claim long-term capital gains treatment with indexation and Section 54/54F exemption relief. This is a major development for property owners who redevelop their homes.
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