EaseValueMadras 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.
Section 254(2) ITAT Rectification vs Review 2025-26 Guide
Recent ITAT ruling clarifies that Section 254(2) rectification powers are strictly limited to correcting apparent mistakes—not conducting a full review of orders. This August 2026 update explains the critical distinction and what it means for your tax litigation strategy.
UAPA Section 51A: UNSC Sanctions List Update August 2026 Impact
The recent August 2026 amendment to the UNSC's 1267/1989 ISIL & Al-Qaida Sanctions List under Section 51A of UAPA has critical implications for Indian taxpayers and financial compliance. This update clarifies freezing of assets and reporting obligations.
SEBI Prosecution Rights Upheld 2026: Bombay HC Front-Running Ruling
A recent Bombay High Court judgment (August 2026) has reaffirmed that only SEBI possesses the authority to prosecute front-running violations, citing Section 26 of securities law. This ruling clarifies enforcement jurisdiction and impacts how securities violations are handled in India.
Telangana HC GST Revocation 2026: Fresh Application Allowed Without Notice
In a significant August 2026 ruling, Telangana High Court has allowed a taxpayer to file a fresh GST revocation application even after their registration was cancelled for six months of non-filing of returns. This judgment gives hope to businesses who lost their GST status due to procedural lapses.
ITAT Bangalore TP Benchmarking Ruling 2026 - Infosys Excluded
In a significant August 2026 ruling, Bangalore ITAT has excluded Infosys and three comparable companies from Transfer Pricing benchmarking analysis, directing a fresh TP study. The tribunal also permitted working capital adjustments and granted Section 10A deduction benefits on enhanced profits.
RBI Reverse Repo Auction August 2026 - Impact on Taxpayers
The RBI has announced a Variable Rate Reverse Repo (VRRR) auction for August 18, 2026, injecting ₹1,50,000 crore into the banking system. This monetary policy move has indirect but important implications for taxpayers, investors, and businesses managing their finances under Income Tax Act 2025.
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