Unsold Flats Cannot Be Taxed on Notional Rent Before They Become Legally Occupiable     Bombay High Court upholds relief to a builder: No annual letting value can be assessed for a period when the property lacked an occupancy certificate Can a builder be asked to pay income tax on notional rent from unsold flats…

Bombay High Court: Taxpayer Can Seek Waiver of Section 270A Penalty Even After an Earlier Application Was Rejected   Finance Act, 2026 opens the door to penalty waiver in misreporting cases — and a second application cannot be rejected merely because the first one failed Can an assessee seek waiver of penalty under Section 270A…

Section 147A of Income-tax Act Under Supreme Court Scanner: Can Retrospective Amendment Validate Invalid Reassessment Notices?     Introduction  Can Parliament retrospectively validate reassessment notices that courts have held to be legally invalid? Can a retrospective amendment override judicial decisions without changing the underlying statutory framework? These questions have brought the controversy surrounding Section 147A…

57th GST Council Meeting – Major Recommendations and Key GST 2.0 Reforms The 57th meeting of the Goods and Services Tax (GST) Council, chaired by Union Finance Minister Smt. Nirmala Sitharaman, was held at Bharat Mandapam, New Delhi, on 8 October 2026. The meeting marked an important shift in the GST reform journey. Instead of…

SaaS Subscription Fee Is Not “Royalty” Merely Because Technology Does the Work   ITAT Mumbai holds that access to a communication platform does not amount to use of a “process” under Section 9(1)(vi) or Article 12(3) of the India–Ireland DTAA In the digital economy, almost everything happens through a “process”. Messages are routed, searches are…