Month: January 2026

Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on merits after hearing the parties  In a recent judgment, ITAT Mumbai has condoned the delay in filing appeal observing that Hon’ble Supreme Court had held that refusing to …

When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be considered as income In a recent judgment, ITAT Ahmedabad accepted the contention that if the prior period expenses are not admissible as deduction, following the same principle the …

Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent judgment, Hon’ble Supreme Court has quashed order of the Calcutta High Court dismissing the application of Income Tax Department for condonation of delay of 972 days in filing …

Addition can not be made relying on the valuation report of property when the stamp duty valuation is also available on record – ITAT  In a recent judgment, ITAT Agra has held that addition can not be made for inadequate sale consideration of property sold merely relying on …

Wrong claim of deduction u/s 54F/54B was not a case of concealment of particulars of income or furnishing inaccurate particulars In a recent judgment, ITAT Pune has held that making a wrong claim of deduction u/s. 54F/54B was not a case of concealment of particulars of income or …

CBIC notifies GST rates and value of taxable supply for Biris, Pan Masala / tobacco products  Ministry of Finance(Department of Revenue) Notification No. 19/2025- Central Tax (Rate) G.S.R. 949(E).— In exercise of the powers conferred by sub-section (5) of section 15 of the Central Goods and Services Tax …