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Income Tax

CBDT Issues Complete Scrutiny Selection Guidelines for FY 2026-27

By Goyal Raj Kumar & Associates 07 Jun 2026 3 min read

CBDT Issues Guidelines for Compulsory Selection of ITRs for Complete Scrutiny in FY 2026-27 The Central Board of Direct Taxes (CBDT) has issued guidelines for the compulsory selection of Income Tax Re...

#income tax #tax update

Income Tax

Key Takeaways: Retrospective GST registration cancellation quashed for absence of specific SCN and recorded reasons.

By Goyal Raj Kumar & Associates 17 May 2026 3 min read

In an important relief for taxpayers, the High Court of Punjab and Haryana in the case of Shri Ram and Sons v. Commissioner, Central Goods and Services Tax, Ludhiana held that retrospective cancellati...

#income tax #case law

Income Tax

Key Takeaways: Wife cannot seek husbandâ€™s income-tax returns under RTI for maintenance dispute

By Goyal Raj Kumar & Associates 17 May 2026 3 min read

In an important ruling on privacy and confidentiality of tax records, the High Court of Delhi in the case of Kapil Agarwal v. CPIO Income-tax Officer, Moradabad held that income-tax returns and taxabl...

#income tax #case law

Income Tax

Key Takeaways: Reassessment notices for AY 2015-16 issued after 1-4-2021 quashed as time-barred under TOLA.

By Goyal Raj Kumar & Associates 17 May 2026 3 min read

In a significant ruling on reassessment proceedings under the Income-tax Act, the High Court of Gujarat in the case of Dimpal Hemang Desai v. Income-tax Officer held that reassessment notices issued f...

#income tax #case law

Income Tax

Key Takeaways: NRE exemption claim is contingent upon proof of RBI permission; reassessment proceedings sustained

By Goyal Raj Kumar & Associates 01 May 2026 2 min read

The Abhinav Jain v. Income-tax Officer ruling provides important clarity on reassessment proceedings, limitation periods, and documentation requirements for NRE transactions. 🔍 Background of the Cas...

#income tax #case law

Income Tax

Key Takeaways: Revenue appeal arising from the section 263 order held not maintainable where the tax effect is below the Rs 2 crore ...

By Goyal Raj Kumar & Associates 27 Apr 2026 2 min read

In a noteworthy ruling, the Delhi High Court in the case of Principal Commissioner of Income-tax v. Nivesh Group has clarified the applicability of monetary limits prescribed for filing departmental a...

#income tax #case law

Income Tax

Key Takeaways: Reduction of share capital via buy-back cannot be treated as property acquisition under Sec 56(2)(x)

By Goyal Raj Kumar & Associates 27 Apr 2026 2 min read

In a significant ruling, the Delhi High Court in the case of Principal Commissioner of Income-tax v. Globe Capital Market Ltd. has held that buy-back of shares cannot be treated as acquisition of...

#income tax #case law

Income Tax

CBDT Issues Corrigendum to Income-tax Rules 2026

By Goyal Raj Kumar & Associates 20 Apr 2026 2 min read

The Central Board of Direct Taxes (CBDT) has issued a corrigendum to the Income-tax Rules, 2026 to rectify drafting and reference inconsistencies. This update aims to improve clarity and ensure unifor...

#income tax #tax update

Income Tax

Upcoming Deadline: Quarterly statement in respect of foreign remittances (to be furnished by authorized dealers) in Form No. 15CC for quarter ending March, 26 — Due 15 Apr 2026

By Goyal Raj Kumar & Associates 14 Apr 2026 2 min read

Cross-border remittances are closely monitored under Indian tax laws to ensure proper tax reporting and compliance. Authorized Dealers (ADs), such as banks, have a statutory obligation to report forei...

#income_tax #deadline #compliance

Income Tax

Upcoming Deadline: Due date for furnishing statement in Form no. 3BB by a stock exchange in respect of transactions in which client codes been modified after registering in the system for the month of March, 2026 — Due 15 Apr 2026

By Goyal Raj Kumar & Associates 14 Apr 2026 2 min read

Stock exchanges play a critical role in ensuring transparency in securities transactions. One such compliance requirement is the reporting of client code modifications through Form 3BB under the Incom...

#income_tax #deadline #compliance

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