ITAT Hyderabad held that rural agricultural land situated beyond 8 kilometres from municipal limits cannot be taxed as a capital asset merely because the purchaser later used it for commercial plotting. The Tribunal ruled that future use by the buyer does not alter the land’s character in the seller’s hands.
ITAT Delhi deleted a ₹45 lakh addition under Section 68 after finding that the assessee had furnished complete details of investor companies and share allotment. The Tribunal held that verified share application money could not be treated as unexplained cash credit.
ITAT Delhi restored a Section 69A addition after holding that the assessee failed to produce evidence supporting its claim that the seized cash was meant for inter-branch transfer. The Tribunal found the explanation unsupported and inconsistent with available records.
CESTAT Hyderabad held that seizure of foreign-marked gold without separately recorded reasons under Section 110 of the Customs Act was legally defective. The Tribunal ruled that subsequent confiscation and penalties could not survive.
ITAT Rajkot held that revision under section 263 was not sustainable where the Assessing Officer had already conducted extensive verification of agricultural income and expenses. The Tribunal observed that detailed notices, documentary evidence, and independent inquiries were part of the original assessment proceedings.
The Allahabad High Court held that a three-month gap between the alleged harassment and the student’s suicide broke the necessary proximity required under Section 306 IPC. The Court quashed criminal proceedings against the teacher due to lack of direct instigation and mens rea.
The updated Annexure-B utility now requires detailed invoice-wise reporting and system-based reconciliation with GSTR-2B and GSTR-3B, increasing compliance requirements for GST refund claims.
The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certain cases. Tax professionals must carefully examine applicability based on the relevant tax year.
The article explains how departmental GST audits can identify compliance gaps, strengthen internal controls, and reduce future litigation and penalty exposure through early corrective action.
The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. The move is positioned as a taxpayer-friendly reform aimed at reducing coercive recovery measures.
