EaseValueSection 68 Addition Remanded: Cochin ITAT 2026 Key Ruling
In a major ruling from August 2026, Cochin ITAT has held that Section 68 additions cannot survive without proper reconciliation and verification of supporting documents. This is a critical update for all taxpayers facing cash credit scrutiny in AY 2025-26 and AY 2026-27.
Treasury Bills Auction Aug 2026 - Income Tax Impact for Indian Investors
The Reserve Bank of India has announced a fresh auction of 91-day, 182-day and 364-day Treasury Bills in August 2026. This is a crucial investment opportunity for individuals and institutions, but comes with specific income tax and TDS implications that every investor must understand.
FCNR(B) Deposits & ECB Forex Inflows: RBI Swap Facility 2026 Tax Guide
RBI introduced a special USD-INR Forex Swap facility on June 8, 2026, attracting ₹56,846 million in forex inflows by August 13. This recent update clarifies the extended deadlines for ECBs and OFCBs while restricting FCNR(B) deposits mobilization to August 31, 2026—with significant income tax and withholding implications for NRIs and corporates.
RBI Small Finance Banks Recovery Rules 2026 - Tax & Compliance Guide
The RBI has issued comprehensive new directions on loan recovery conduct by Small Finance Banks (SFBs) effective January 1, 2027. This impacts how SFBs handle debt recovery, engage recovery agencies, and treat borrowers—with significant compliance and tax implications.
Section 148 Reassessment Quashed 2026 – ITAT Mumbai Ruling on Section 149(1)(b)
In a significant ruling from August 2026, ITAT Mumbai has quashed a Section 148 reassessment notice for AY 2017-18, holding that the Income Tax Department failed to satisfy the strict conditions under Section 149(1)(b) of the Income Tax Act 2025 for reopening assessments beyond three years. This is a major win for taxpayers facing old reassessment notices.
SC Dismisses Revenue SLP: Section 68 Penny Stock Addition Deleted 2026
In a major relief for taxpayers, the Supreme Court has dismissed the Revenue's SLP against the High Court's ruling that upheld the Long-Term Capital Gains (LTCG) exemption under Section 10(38) of the Income Tax Act 2025 on penny stock shares. The deletion of the Section 68 addition has been affirmed.
RBI VRRR Auction August 2026 - Impact on Tax & Liquidity
The RBI has announced a 3-day Variable Rate Reverse Repo (VRRR) auction on August 14, 2026, to manage evolving liquidity conditions. This monetary policy tool affects cash flow planning for businesses and has indirect implications for tax compliance and financial reporting.
RBI Local Area Banks Recovery Rules 2026 - Tax & Compliance Impact
The Reserve Bank of India has issued comprehensive new directions for Local Area Banks on loan recovery practices, effective January 1, 2027. This impacts how LABs recover dues, engage recovery agencies, and handle borrower grievances—with significant tax and legal compliance implications.
Madras HC GST Order 50% Tax Deposit 2026 - Fresh Adjudication
In a significant August 2026 ruling, the Madras High Court has remanded a GST order requiring taxpayers to deposit 50% of disputed tax before fresh adjudication. This impacts all businesses with pending GST show cause notices.
Karnataka HC GST ITC Loss Refund 2026 - ₹36.64 Lakh Security Deposit
In a significant 2026 ruling, Karnataka High Court has ordered refund of ₹36.64 lakh security deposit, holding that alleged GST Input Tax Credit (ITC) loss was unproved and cannot be recovered from the contractor. This judgment has major implications for businesses managing contractor relationships and GST compliance.
Delhi HC Upholds ₹19.25 Lakh Addition: Sale Deed Cancellation 2026
Delhi High Court has upheld a ₹19.25 lakh income tax addition, rejecting a taxpayer's attempt to cancel a property sale deed through litigation filed after tax assessment. This August 2026 ruling is critical for property owners and real estate dealers regarding timing of cancellation suits and tax liability.
RBI Rural Co-operative Banks Recovery Rules 2026 - Key Changes
The Reserve Bank of India has issued comprehensive new directions in August 2026 governing how Rural Co-operative Banks (RCBs) can recover loan dues from defaulting borrowers. This update introduces strict rules on recovery agent conduct, borrower protection, and the use of technology-based device locking mechanisms.
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