Income Tax

In a recent ruling, the Andhra Pradesh High Court held that a single Goods and Services Tax (GST) show cause notice or a composite assessment order is impermissible for multiple tax periods. Venkata Naga Sai Stone Crushers, represented by its Managing Partner Matta Srinivasa Rao, submitted a writ petition before the Andhra Pradesh High Court…

CBDT Tightens Scrutiny of Unexplained Income Additions: Fresh Directions Issued on Sections 68 to 69D and Section 115BBE     C&AG Audit Findings Trigger Administrative Push for Uniform Tax Assessments The provisions dealing with unexplained cash credits, unexplained money, unexplained investments, unexplained expenditure and hundi transactions have always been among the most litigated provisions under…

Managing payroll is a critical task for any business. It involves dealing with sensitive information about employees, such as their salaries, addresses, and tax details. With the rise of cyber threats, basic security measures are no longer enough. Choosing payroll software with robust security features is crucial to safeguard employee information and avoid potential financial…

The Tamil Nadu Commercial Taxes Department has introduced virtual personal hearings and an automated random allocation system for GST refund applications, effective from July 9. The initiative is aimed at simplifying tax compliance, enhancing transparency, and improving the efficiency of GST administration for the state’s 12.4 lakh registered GST taxpayers. Across all 338 State Tax…

As the July 31 deadline for filing Income Tax Returns (ITRs) approaches, return filing activity has gained significant momentum across the country. The Income Tax Department has announced that more than 1.7 crore taxpayers have already filed their ITRs for Assessment Year (AY) 2026–27, reflecting a strong response from taxpayers during the current filing season….

The Supreme Court has disposed of a writ petition contesting the constitutional validity of Section 69 of the Central Goods and Services Tax (CGST) Act, 2017, which authorises GST officers to arrest persons charged with specified GST offences. The bench of Justice Manmohan and Justice K. Vinod Chandran has said that the issue is no…

Overview Form 79 under the Income Tax Act is a statement used by investment funds to report income paid or credited to unit holders. It is furnished under Section 224 of the Income Tax Act, 2025 and prescribed under Rule 145 of the Income Tax Rules, 2026. Form 79 Investment Fund Filing is the new…

Assessment in the Name of a Deceased Person Is a Nullity: ITAT Allows Legal Ground Even If Not Raised Before CIT(A)   Ahmedabad ITAT Reaffirms That Jurisdictional Defects Can Be Raised at Any Stage Tax litigation often revolves around additions, disallowances, exemptions, and deductions. However, sometimes the most powerful defence does not concern the merits…

Has the Tax Shine Gone Off Sovereign Gold Bonds?     [Query 1] I have acquired SGB from the secondary market and redeemed on maturity before 01/04/2026. On attempting to report the gain under “any other exempt income” the predefined drop out option in the relevant ITR Form does not cover such income. Under the circumstance,…

The Delhi High Court has determined that a GST adjudicating authority is not required to address every point raised by an assessee in response to a show-cause notice (SCN) in detail. Therefore, the lack of a thorough discussion of each submission does not imply that the representations were not taken into account. A division bench…