![Interest Income on Securities Accrues on Due Date of Payment and not on Everyday Basis: Supreme Court Declines Interference with Bombay HC Ruling [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127059-due-datejpg.webp "Interest Income on Securities Accrues on Due Date of Payment and not on Everyday Basis: Supreme Court Declines Interference with Bombay HC Ruling [Read Order]")
Interest Income on Securities Accrues on Due Date of Payment and not on Everyday Basis: Supreme Court Declines Interference with Bombay HC Ruling [Read Order]
The Supreme Court of India recently dismissed a Special Leave Petition filed by the Principal Commissioner of Income Tax-2 challenging a...
![Amendment of Last Date for Submission of TRQ Applications for FTAs Notified under FTP, 2023 [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127056-amendment-trq-ftas-ftp-last-date-for-submission-trq-application-taxscan.webp "Amendment of Last Date for Submission of TRQ Applications for FTAs Notified under FTP, 2023 [Read Order]")
![Banks can use Separate Provisions to Set-off Bad Debts for Rural & Non-Rural Advances: Supreme Court Declines Interference with Bombay HC Order [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127057-bad-debtjpg.webp "Banks can use Separate Provisions to Set-off Bad Debts for Rural & Non-Rural Advances: Supreme Court Declines Interference with Bombay HC Order [Read Order]")
![CoC Cannot Modify Distribution Mechanism After Approval of Resolution Plan: NCLAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127017-coc-cannot-modify-distribution-mechanism-after-approval-resolution-plan-nclat-taxscan.webp "CoC Cannot Modify Distribution Mechanism After Approval of Resolution Plan: NCLAT [Read Order]")
![Benami Attachment Orders Cannot Be Challenged Before NCLT Under IBC: Supreme Court [Read Judgement]](https://images.taxscan.in/h-upload/2026/02/25/2127053-benami-attachment-orders-challenged-nclt-ibc-supreme-court.webp "Benami Attachment Orders Cannot Be Challenged Before NCLT Under IBC: Supreme Court [Read Judgement]")
Common IP Address, EMD Payments & Call Records Establish Cartelisation: NCLAT Upholds ₹10 Lakh Penalty For Bid Rigging [Read Order]
The National Company Law Appellate Tribunal (NCLAT), Principal Bench New Delhi has confirmed a penalty of ₹10 lakh on M/s Klassy Enterprises for engaging in bid rigging and cartels in contravention...
![Common IP Address, EMD Payments & Call Records Establish Cartelisation: NCLAT Upholds ₹10 Lakh Penalty For Bid Rigging [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127012-common-ip-address-emd-payments-call-records-establish-cartelisation-nclat-penalty-.webp "Common IP Address, EMD Payments & Call Records Establish Cartelisation: NCLAT Upholds ₹10 Lakh Penalty For Bid Rigging [Read Order]")
Assessee made aware of Income Tax Demand only after SMS/Call from Dept.: ITAT condones 223 Day Delay [Read Order]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, condoned a delay for filing an appeal by Agarwal Rajeshkumar Babulal HUF and Dahyabhai Ganeshbhai Kugasiya after noting that the appellant ...
![Assessee made aware of Income Tax Demand only after SMS/Call from Dept.: ITAT condones 223 Day Delay [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2127016-itat-ahmedabad-assessee-income-tax-demand-sms-call-income-tax-dept-condones-delay-taxscan.webp "Assessee made aware of Income Tax Demand only after SMS/Call from Dept.: ITAT condones 223 Day Delay [Read Order]")
MCA CCFS-2026 Offers Big Relief To Companies: Clear Pending Filings At Just 10% Fee Or Opt For Dormancy And Closure [Read Circular]
The Ministry of Corporate Affairs (MCA) has introduced the Companies Compliance Facilitation Scheme, 2026 (CCFS-2026) which offers a one-time compliance amnesty to defaulting companies. The...
![MCA CCFS-2026 Offers Big Relief To Companies: Clear Pending Filings At Just 10% Fee Or Opt For Dormancy And Closure [Read Circular]](https://images.taxscan.in/h-upload/2026/02/25/2127026-pendingjpg.webp "MCA CCFS-2026 Offers Big Relief To Companies: Clear Pending Filings At Just 10% Fee Or Opt For Dormancy And Closure [Read Circular]")
AO ignores Valid Invoices and GSTR Filings: Karnataka HC Sets Aside Income Tax Order, Directs Reconsideration [Read Order]
Officer (AO) failed to consider the firm's reliance on valid tax invoices and GSTR filings. Also remitted the matter for fresh consideration. In a recent ruling, the Karnataka High Court has...
![AO ignores Valid Invoices and GSTR Filings: Karnataka HC Sets Aside Income Tax Order, Directs Reconsideration [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2126994-ao-ignores-valid-invoices-and-gstr-karnataka-hc-income-tax-order.webp "AO ignores Valid Invoices and GSTR Filings: Karnataka HC Sets Aside Income Tax Order, Directs Reconsideration [Read Order]")
Demand Notice Issued u/s 13 of SARFAESI Constitute Valid Invocation of Personal Guarantee: NCLAT Upholds Insolvency Resolution Proceedings [Read Order]
The National Company Law Appellate Tribunal (NCLAT) has upheld the initiation of insolvency resolution proceedings against the personal guarantor by holding that the notice issued under Section 13...
![Demand Notice Issued u/s 13 of SARFAESI Constitute Valid Invocation of Personal Guarantee: NCLAT Upholds Insolvency Resolution Proceedings [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2126995-demand-notice-issued-sarfaesi-constitute-valid-invocation-personal-guarantee-nclat-upholds-insolvency-resolution-proceedings-taxscan.webp "Demand Notice Issued u/s 13 of SARFAESI Constitute Valid Invocation of Personal Guarantee: NCLAT Upholds Insolvency Resolution Proceedings [Read Order]")
ITR Invalidated for Alleged ₹10 Crore Gross Receipts Without S. 44AB Audit: Karnataka HC Sets Aside CPC Order, Directs Fresh Consideration [Read Order]
In a recent ruling, the Karnataka High Court has intervened in a dispute over the income tax return for AY 2024–25, which had been invalidated by the CentralProcessing Centre (CPC) on the ground...
![ITR Invalidated for Alleged ₹10 Crore Gross Receipts Without S. 44AB Audit: Karnataka HC Sets Aside CPC Order, Directs Fresh Consideration [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2126997-site-image25-1jpg.webp "ITR Invalidated for Alleged ₹10 Crore Gross Receipts Without S. 44AB Audit: Karnataka HC Sets Aside CPC Order, Directs Fresh Consideration [Read Order]")
PCIT Cannot Rely on AI Overview on London Rental Yields to Revise ALV: ITAT quashes Income Tax Revision Against Senior Advocate Mukul Rohatgi [Read Order]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that the PCIT cannot rely on an AI overview of London rental yields to revise the AnnualLetting Value (ALV) under Section 263. The...
![PCIT Cannot Rely on AI Overview on London Rental Yields to Revise ALV: ITAT quashes Income Tax Revision Against Senior Advocate Mukul Rohatgi [Read Order]](https://images.taxscan.in/h-upload/2026/02/25/2126985-pcit-cannot-rely-ai-overview-london-rental-yields-revise-alv-itat-quashes-income-tax-revision-against-senior-advocate-mukul-rohatgi-taxscan.webp "PCIT Cannot Rely on AI Overview on London Rental Yields to Revise ALV: ITAT quashes Income Tax Revision Against Senior Advocate Mukul Rohatgi [Read Order]")