During the week 26 January to 1 February 2026, multiple regulatory updates were issued across Income Tax, GST, Central Excise, Customs, DGFT, SEBI, MCA, RBI, and allied laws, reflecting Budget 2026 implementation and policy fine-tuning. Website URL: https://taxguru.in/chartered-accountant/analysis-notifications-circulars-week-1st-february-2026.html
On the share capital issue, the Tribunal held that the addition of ₹55 lakh towards share capital and premium was unsustainable where the assessee had discharged its initial onus by furnishing complete documentary evidence such as names, addresses, PANs, confirmations, audited accounts and bank statements of the subscribers. Website URL: https://taxguru.in/income-tax/share-capital-addition-fails-subscriber-non-appearance.html
This article forms Part II of a series on capital gains exemption under Section 54 of the Income-tax Act, 1961, and examines the judicial interpretation of the expression “date of transfer” across varied factual situations. The article adopts a question-and-answer format, supported by relevant judicial pronouncements, to address practical issues arising in determining the relevant date for claiming exemption under Section 54. Website URL: https://taxguru.in/income-tax/section-54-capital-gains-tax-exemption-constitutes-date-transfer.html#google_vignette
E-commerce sellers in India face increasing GST scrutiny due to data-driven, system-generated notices triggered by mismatches, classification errors, and platform reporting gaps rather than fraud. Key red flags include inconsistencies between GSTR-1 and GSTR-3B, improper TCS reconciliation, excessive or unlinked credit notes, incorrect HSN classification or tax rates, and ITC claims without verified vendor compliance. Website URL: https://taxguru.in/goods-and-service-tax/e-commerce-sellers-gst-red-flags-trigger-notices.html
The Bombay Chartered Accountants’ Society (BCAS) submitted a representation to the Finance Minister, CBIC, GST Council Secretariat, and Principal Chief Commissioner of CGST highlighting challenges in filing FORM GSTR-9 and GSTR-9C for FY 2024-25. Website URL: https://taxguru.in/goods-and-service-tax/challenges-filing-gstr-9-gstr-9c-request-extend-due-date.html
The appeals concerned the levy of penalty under section 270A of the Income Tax Act for assessment years 2018-19 to 2021-22. The assessee, engaged in jewellery manufacturing and diamond retail, challenged the penalties imposed on additions relating to gross profit on alleged unaccounted purchases. Website URL: https://taxguru.in/income-tax/penalty-based-loose-sheets-ledger-supporting-proof-valid.html
The Gujarat High Court heard a petition filed under Article 226 of the Constitution challenging the order dated 12.06.2025 passed by the Deputy Commissioner of State Tax Appeal-8, Surat, which had rejected the petitioners’ appeal under Section 107 of the Goods and Services Tax Act, 2017 (GST Act) on the ground of limitation. Website URL: https://taxguru.in/goods-and-service-tax/gst-appeal-limitation-starts-email-failed-portal-upload-gujarat-hc.html
An Advance Ruling is the determination of a question of law or fact related to the tax liability arising from transactions already undertaken or proposed to be undertaken by an applicant. The purpose of this mechanism is to provide clarity to taxpayers, giving them a clear-cut idea of their tax liability in advance for a given set of transactions. Website URL: https://taxguru.in/income-tax/authority-advance-ruling-income-tax.html
Ministry of Finance, through the Central Board of Indirect Taxes and Customs (CBIC), has issued Notification No. 17/2025 – Central Tax, dated 18th October 2025, extending the due date for filing GSTR-3B returns for both monthly and quarterly filers. Website URL: https://taxguru.in/goods-and-service-tax/extension-gstr-3b-september-month-quarter-25th-october-2025.html
Over the past year, the world of precious metals has witnessed major shifts. Silver’s dramatic surge in prices has drawn the attention of both investors and ordinary citizens. Gold has also delivered excellent returns during this time, but silver’s pace tells a different story altogether. Read more at: https://taxguru.in/finance/silver-gold-rising-prices-investor-worries.htmlCopyright © Taxguru.in Website URL: https://taxguru.in/finance/silver-gold-rising-prices-investor-worries.html