Rs. 30L Earner Refused to Pay ₹594 of Legitimate Tax: CA Shares his shocking Experience
A Chartered Accountant ( CA ) has shared his experience where a high salaried taxpayer who is earning Rs. 30 lakhs per year, refused to pay a...
![ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116531-itat-holds-plr-applicable-for-benchmarking-taxscan.webp "ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]")
![ITAT Restricts Commission Income to 0.15% for Accommodation Entry Provider, Deletes S. 68 Additions [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/2116509-itat-restricts-commission-income-015-for-accommodation-taxscan.jfif "ITAT Restricts Commission Income to 0.15% for Accommodation Entry Provider, Deletes S. 68 Additions [Read Order]")
![Belated Proforma Invoice for Consultancy Cannot Override Financial Debt: NCLAT Upholds NCLTs Section 7 Admission [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116705-belated-proforma-invoice-consultancy-cannot-override-financial-debt-nclat.webp "Belated Proforma Invoice for Consultancy Cannot Override Financial Debt: NCLAT Upholds NCLTs Section 7 Admission [Read Order]")
![Balance Sheet Entries as ‘Other Long-Term Liabilities’ Confirm Financial Debt u/s 5(8): NCLAT [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116723-balance-sheet.webp "Balance Sheet Entries as ‘Other Long-Term Liabilities’ Confirm Financial Debt u/s 5(8): NCLAT [Read Order]")
GST ITC Refund Restricted to Direct Supply of Electricity to Bangladesh: AP High Court Rules SEIL’s Supplies Via PTC Domestic [Read Order]
The Andhra Pradesh High Court has ruled that Goods and Services Tax (GST) Input Tax Credit (ITC) refund can only be claimed upon direct supply of electricity to Bangladesh Power Development Board...
![GST ITC Refund Restricted to Direct Supply of Electricity to Bangladesh: AP High Court Rules SEIL’s Supplies Via PTC Domestic [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116679-gst-itc-refund-restricted-direct-supply-electricity-bangladesh-ap-high-court.webp "GST ITC Refund Restricted to Direct Supply of Electricity to Bangladesh: AP High Court Rules SEIL’s Supplies Via PTC Domestic [Read Order]")
Punjab Govt Extends One-Time Settlement Scheme for Clearing Pre-GST Arrears’ Deadline to March 31, 2026
The Punjab Government has extended the deadline for its One-Time Settlement ( OTS ) Scheme for recovery of outstanding tax dues till 31 March 2026. This would be a great relief to taxpayers with...
Penalty for ‘Inaccurate Particulars’ Sustained: ITAT upholds ₹12.45 Lakh Levy on Stock Broker [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the levy of penalty under Section 271(1)(c) of the Income Tax Act, 1961, holding that the charge of furnishing inaccurate...
![Penalty for ‘Inaccurate Particulars’ Sustained: ITAT upholds ₹12.45 Lakh Levy on Stock Broker [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116735-stock-broker-taxscan.webp "Penalty for ‘Inaccurate Particulars’ Sustained: ITAT upholds ₹12.45 Lakh Levy on Stock Broker [Read Order]")
Share Allotment before Receipt of Application Money Violates S 42: MCA Imposes ₹2.89 Lakh Penalty on Company and Directors [Read Order]
The Ministry of Corporate Affairs (MCA) has imposed penalties on a company and its directors for Section 42(10) of the Companies Act, 2013, relating to private placement of securities The MCA received...
![Share Allotment before Receipt of Application Money Violates S 42: MCA Imposes ₹2.89 Lakh Penalty on Company and Directors [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116689-share-allotment-before-receipt-application-money-violates-mca-imposes-penalty-company-directors.webp "Share Allotment before Receipt of Application Money Violates S 42: MCA Imposes ₹2.89 Lakh Penalty on Company and Directors [Read Order]")
![Interest-Free Advances from Share Capital Don not Attract Notional Tax: ITAT [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116709-interest-free-advance-share-capital-taxscan.jfif "Interest-Free Advances from Share Capital Don not Attract Notional Tax: ITAT [Read Order]")
Satisfaction Note without Date Supplied to Petitioner after 2 years : Gujarat HC Quashes Notice u/s 153C of Income Tax Act [Read Order]
The Gujarat high court has quashed notices and associated proceedings under section153c of the Income Tax Act citing that the satisfaction note supplied by the jurisdictional officer doesn’t bear a...
![Satisfaction Note without Date Supplied to Petitioner after 2 years : Gujarat HC Quashes Notice u/s 153C of Income Tax Act [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116666-satisfaction-note-without-date-supplied-to-petitioner-after-2-years-gujarat-hc-quashes-notice-us-153c-of-income-tax-act-taxscan.webp "Satisfaction Note without Date Supplied to Petitioner after 2 years : Gujarat HC Quashes Notice u/s 153C of Income Tax Act [Read Order]")
![Registered Office Default Since 2019: MCA Imposes Penalty on Company and Its Directors [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/2116687-registered-office-default-since-2019-mca-imposes-penalty-company-its-directors-taxscan.webp "Registered Office Default Since 2019: MCA Imposes Penalty on Company and Its Directors [Read Order]")