EaseValueAssociated Enterprise TP Ruling 2025 | Mumbai ITAT Commercial Dependence
In a significant Transfer Pricing ruling, Mumbai ITAT has held that commercial dependence alone cannot establish Associated Enterprise status under Section 92A(2)(g) of the Income Tax Act 2025. This is a major win for taxpayers facing aggressive TP adjustments.
RBI VRRR Auction August 2026 - Impact on Income Tax & GST
The RBI has announced a Variable Rate Reverse Repo (VRRR) auction scheduled for August 20, 2026, to manage current liquidity conditions. This monetary policy measure can indirectly affect tax compliance timelines, GST cash flow, and business working capital for Indian taxpayers and GST-registered entities.
Mumbai ITAT Quashes ₹1.60 Crore Property Additions 2026 - Reassessment Rules
In a landmark August 2026 ruling, Mumbai ITAT has quashed a ₹1.60-crore property addition during reassessment proceedings because the income tax department failed to furnish relied-upon material and denied the assessee cross-examination rights. This is a critical win for taxpayer protection.
Section 54 & 54F: Two Flats Amalgamated = One House | ITAT 2026
In a significant ruling from August 2026, Mumbai ITAT has allowed Section 54 and Section 54F exemptions where two residential flats were physically amalgamated into one composite residential house. This decision provides clarity for property owners who have merged adjacent flats.
Treasury Bills Investment 2026 - Income Tax Guide for Indians
The recent Treasury Bills auction (August 2026) shows strong investor participation across 91-day, 182-day, and 364-day tenors. Here's how Treasury Bill income is taxed under the Income Tax Act 2025 and what you must report.
UAPA Section 51A: Terrorist Sanctions List Update August 2026
The Reserve Bank of India has issued critical compliance updates regarding Section 51A of the Unlawful Activities (Prevention) Act, 1967, following UN Security Council amendments to terrorist sanctions lists. Financial institutions must immediately verify accounts against updated ISIL and Al-Qaida sanctions lists to ensure regulatory compliance.
Madras HC GST Appeal Delay Condonation 2026 | 28-Day Extension
The Madras High Court has set a significant precedent by condoning a 28-day delay in GST appeals and remanding cases for adjudication on merits. This August 2026 ruling provides crucial relief to GST assessees facing limitation issues in their statutory appeals.
Income Tax Form 112 2026 - NPO Audit Report Replacement
From April 2026, NPOs must file new Income Tax Form 112 instead of Forms 10B and 10BB for audit reports under Section 348. This is a major simplification with technology-enabled annual filing requirements.
Faceless Assessment 2025-26: Complete Guide for Indian Taxpayers
The faceless assessment scheme continues to be a key income tax procedure in AY 2025-26. This guide explains the complete process, your rights, and what you must do when served a notice.
RBI VRRR Auction August 2026 - Impact on Income Tax & GST
The Reserve Bank of India has announced a Variable Rate Reverse Repo (VRRR) auction scheduled for August 19, 2026, affecting market liquidity. This monetary policy move has indirect but important implications for businesses managing cash flow, tax compliance, and GST obligations in Assessment Year 2026-27.
DGAP Report ITC Benefit 2026: GSTAT Ruling Explained
In a significant development for August 2026, GSTAT has accepted a DGAP report where the ITC-to-purchases ratio decreased from 8.26% to 7.87%, with no additional input tax credit benefits accruing. This ruling clarifies the compliance position for businesses managing GST credits.
DGAP Report 2026: No Section 171 GST Contravention by GSTAT
In a significant development this August 2026, GSTAT has accepted the DGAP investigation report and found no contravention under Section 171 of the GST Act. This ruling provides important clarity on anti-profiteering obligations for real estate and other businesses.
Have a tax question? Our CA will reply within 30 mins.
💬 Ask on WhatsApp