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AO Cannot make Additions on Issues Unrelated to Recorded Reopening Reasons: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that a reassessment cannot be sustained where the Assessing Officer (AO) makes ...

India’s Net Direct Tax Revenues Rise 8.82% Till Mid-January

STT-Paid STCL Set-Off allowed against 30% STCG Despite 15% Rate: ITAT Quashes Denial [Read Order]

Schedule BP Adjustment Ignored: ITAT Sets Aside ₹33.83 Cr Disallowance u/s. 37 & MAT Addition u/s....

No Hierarchy in STCL Set-Off u/s 70(2): ITAT Strikes Down AO’s Computation Method

Date of Share Transfer Determines “Holding Period”, Not Allotment Date: ITAT allows LTCG Exemption [Read Order]

The Mumbai Bench, Income Tax Appellate Tribunal (ITAT) held that for the purpose of determining the “holding period” of shares concerning eligibility for long-term capital gains (LTCG) exemption,...

Multiple Cheques from Same Transaction can give Rise to Separate S. 138 NI Act Prosecutions: Supreme Court [Read Order]

In a recent ruling, the Supreme Court held that multiple cheques issued in relation to the same transaction can give rise to separate prosecutions under Section 138 of the Negotiable Instruments Act,...

Brought-Forward Losses Cannot be Set Off against DTAA-Exempt LTCG: ITAT Bars Adjustment [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that long-term capital gains (LTCG) which are exempt from tax in India under a Double TaxationAvoidance Agreement (DTAA) do not form...

Chilly Seeds for Sowing Classified Under CTH 1209, Not CTH 0904: CESTAT Rules Chemical-Treated Seeds Not Classifiable as Spices [Read Order]

The Principal Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) at New Delhi, held that chilly seeds imported solely for sowing are classifiable under CTH 1209 and not under...

Supreme Court & High Courts Weekly Round-Up

This weekly round-up analytically summarises the key stories related to the Supreme Court & High Courts reported at Taxscan.in during the previous week, from January 04, 2026 to January 10,...

GST Officer Rejected Jindal Steel’s Rectification Plea on GST Shortfall between GSTR-3B & E-Way Bill Arbitrarily: Orissa HC Directs Proper Hearing [Read Order]

The Orissa High Court recently rebuked the mechanical rejection by the Goods and Services Tax (GST) authorities against a rectification application filed by Jindal Steel regarding an apparent...

ITR not filed with Audit Report Timely due to delay in Auditor Appointment: Orissa HC allows Belated Filing with Report [Read Order]

The Orissa High Court has allowed the The Reserve Bank Employees Co-operative Credit Society Limited to file the income tax returns ( ITR ) with an audit report belatedly which was not filed timely...

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