TDS Credit Cannot Be Denied for 26AS Mismatch: ITAT Hyderabad Sets the Record Straight In a crucial ruling addressing a very common issue faced by taxpayers, the ITAT Hyderabad has held that TDS credit cannot be denied merely because it is not reflected in Form 26AS, if the corresponding income is offered to tax. The decision…

Bogus Purchases: Only Profit Element Taxable, Not Entire Purchase – Bombay High Court   In a significant ruling that reinforces a settled but often ignored principle, the Bombay High Court in Pr. Commissioner of Income Tax v. Amcon Construction has upheld that only the profit element embedded in alleged bogus purchases can be brought to tax. The Court…

DTAA Compliance Gets Stricter: Form 10F Now Mandatory for All Treaty Claims   A significant procedural shift has been introduced under the Income-tax Act, 2025 and Income-tax Rules, 2026, effective from 1st April 2026. The change revolves around a seemingly simple document-Form 10F (now replaced by Form 41)-but its impact on international taxation compliance is far-reaching….

Reassessment Fails Without 143(2): Delayed Return in response to notice under section 148 Cannot Be Ignored     In a crucial ruling reinforcing procedural safeguard in reassessment proceedings, the Tribunal has held that a return filed in response to notice under Section 148 cannot be treated as non-Est merely because it is delayed. More importantly, it…

Section 69A Cannot Be Invoked on Explained Cash Re-Deposits: ITAT Clarifies Law   In an important ruling reinforcing the correct scope of deeming provisions, the Tribunal in Pradeep Patni vs ITO (ITA No. 687/Ind/2025) has held that Section 69A applies only when unexplained money is found with the assessee and not when deposits are duly explained. The decision…