Bogus Purchases: 100% Addition or Only Profit Element? Supreme Court Settles the Law In one of the most significant rulings on bogus purchase cases, the Gujarat High Court—now affirmed by the Supreme Court through dismissal of SLP dated 17.04.2026—has conclusively settled a long-standing controversy  – Can the entire amount of alleged bogus purchases be added to…

Reassessment Quashed: Gujarat High Court Slams Use of WhatsApp Data & Undated Complaint Without Proof.   In a powerful judgment reinforcing taxpayer protection against arbitrary reopening, the Gujarat High Court has held that reassessment proceedings cannot be sustained on the basis of vague, third-party digital material and unverified allegations. The ruling in Dhruv Vijaykumar Trivedi v. DCIT (Special…

ITR Forms AY 2026–27: 8 Big Changes Every Taxpayer Must Know Before Filing Returns   The Income Tax Return (ITR) forms for FY 2025–26 (AY 2026–27) bring a series of structural and disclosure-based changes that reflect the tax department’s growing focus on data transparency, cross-verification, and AI-driven scrutiny. While many taxpayers assume ITR forms remain largely…

Late Fee for Tax Audit Report as introduced by the Finance Act 2026: Will It Apply to FY 2025–26 or FY 2026–27 onwards   New Income Tax Act – 2025 is made applicable from 01.04.2026. With this, one of the biggest confusions after the Finance Act 2026 is this:      Will the newly introduced…

Section 153C Proceedings Quashed: ITAT Pune Rules Separate Satisfaction for Each Year is Mandatory   TAT Pune in the case of Ramdas Chabaji Dhankude & Vikas Narayan Dhankude vs ACIT has quashed the proceeding under section 153C by holding that Separate Satisfaction for Each Year is Mandatory. Search assessments continue to be one of the…