CBDT Tightens Scrutiny of Unexplained Income Additions: Fresh Directions Issued on Sections 68 to 69D and Section 115BBE     C&AG Audit Findings Trigger Administrative Push for Uniform Tax Assessments The provisions dealing with unexplained cash credits, unexplained money, unexplained investments, unexplained expenditure and hundi transactions have always been among the most litigated provisions under…

CBDT Mandates Upload of Foreign Assets and Income Data in AIS and Form 26AS Under AEOI     The Central Board of Direct Taxes has issued a key order to bring offshore financial data into the regular tax compliance system. Key Order Details – Order No.: http://F.No. 225/73/2025-ITA-II – Date: July 8, 2026 – Issued…

Assessment in the Name of a Deceased Person Is a Nullity: ITAT Allows Legal Ground Even If Not Raised Before CIT(A)   Ahmedabad ITAT Reaffirms That Jurisdictional Defects Can Be Raised at Any Stage Tax litigation often revolves around additions, disallowances, exemptions, and deductions. However, sometimes the most powerful defence does not concern the merits…

Has the Tax Shine Gone Off Sovereign Gold Bonds?     [Query 1] I have acquired SGB from the secondary market and redeemed on maturity before 01/04/2026. On attempting to report the gain under “any other exempt income” the predefined drop out option in the relevant ITR Form does not cover such income. Under the circumstance,…

Even a 2-Day Delay Can Kill a Reassessment: Delhi High Court Draws a Strict Line on Section 148 Timelines     Reassessment Notice Quashed for Being Issued Just Two Days Late In tax litigation, a delay of two days may seem insignificant. However, when it comes to statutory limitation periods, even a minor delay can…