News
SEBI Extends Validity of Observation Letters Under ICDR Regulations Till September 30, 2026
59+ min ago (232+ words) One-time relief is granted to issuers amid market volatility; it prevents the lapse of SEBI observation approvals. Meetu Kumari | Apr 9, 2026 | SEBI Extends Validity of Observation Letters Under ICDR Regulations Till September 30, 2026 The Securities and Exchange Board of India has issued…...
Multi-Agency Crackdown on Jaffer Sadiq: Income Tax Searches Follow Drug Smuggling Probe
1+ hour, 58+ min ago (117+ words) The alleged drug smuggling by Jaffer Sadiq has triggered coordinated raids by multiple agencies across Chennai and Puducherry over suspected financial irregularities. Saloni Kumari | Apr 9, 2026 | Multi-Agency Crackdown on Jaffer Sadiq: Income Tax Searches Follow Drug Smuggling Probe The Income Tax…...
ICAI Releases Publication Arranging Income Tax Rules 2026 and Forms in Tabular Format
1+ hour, 38+ min ago (199+ words) The ICAI has released a publication, providing a systematic and detailed compilation of the Income Tax Rules, 1962, and related forms through tabular mapping for easier understanding and practical application. Kashish Bhardwaj | Apr 9, 2026 | ICAI Releases Publication Arranging Income Tax Rules 2026 and…...
Anti-Corruption Bureau Arrests GST Officer for Taking Bribe in Navi Mumbai
1+ hour, 24+ min ago (188+ words) The Anti-Corruption Bureau arrested a GST officer and his assistant in Navi Mumbai for accepting a Rs 9, 000 bribe from a software developer. Vanshika verma | Apr 9, 2026 | Anti-Corruption Bureau Arrests GST Officer for Taking Bribe in Navi Mumbai The Anti-Corruption Bureau (ACB)…...
ITR Filing 2026: Additional Proof Needed for Claiming Donation Exemptions
2+ hour, 2+ min ago (233+ words) ITR forms for AY 2026-27 now require detailed donation reporting, including transaction reference and IFSC, to improve transparency and prevent false claims. Kashish Bhardwaj | Apr 9, 2026 | ITR Filing 2026: Additional Proof Needed for Claiming Donation Exemptions What changes have been made? Under the…...
ITAT: Payment for Project-Specific Architectural and Consultancy Services Not FTS Sans "Make Available; No TDS Liability
2+ hour, 22+ min ago (296+ words) The designs could not be reused for other projects, and no technical knowledge or skills were "made available" to the assessee company for independent use. Nidhi | Apr 9, 2026 | ITAT: Payment for Project-Specific Architectural and Consultancy Services Not FTS Sans "Make Available;…...
ITAT Holds Loss Cannot Be Treated as Unexplained Income
7+ hour, 10+ min ago (265+ words) ITAT deletes an addition holding bitcoin loss cannot be treated as an unexplained investment under Section 69. Meetu Kumari | Apr 9, 2026 | ITAT Holds Loss Cannot Be Treated as Unexplained Income For the Assessment Year 2018-19, an individual taxpayer reported an income of Rs....
State GST Cannot Assess IGST on Imports, Rules High Court
9+ hour, 47+ min ago (147+ words) The Andhra Pradesh High Court has quashed a GST notice, holding that state authorities lack jurisdiction to assess IGST on imports. Meetu Kumari | Apr 9, 2026 | State GST Cannot Assess IGST on Imports, Rules High Court Also Read GST: No Hearing, No…...
No Section 69 A Addition Where Family Jewellery Exceeds Seized Assets
3+ hour, 44+ min ago (92+ words) ITAT deletes additions holding family jewellery disclosures that exceed seized assets; Section 69 A is not applicable. Meetu Kumari | Apr 9, 2026 | No Section 69 A Addition Where Family Jewellery Exceeds Seized Assets Central Issue: Whether jewellery found during the search should be assessed…...
IBC Overrides Tax Claims; HC Quashes Pre-CIRP Proceedings
5+ hour, 24+ min ago (141+ words) HC quashes tax proceedings, holding pre-CIRP dues extinguished after resolution plan approval under IBC. Meetu Kumari | Apr 9, 2026 | IBC Overrides Tax Claims; HC Quashes Pre-CIRP Proceedings The Petitioner, Sivana Realty Private Limited, underwent the Corporate Insolvency Resolution Process (CIRP) and its…...