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TR Vol-203 Issue-2, 15-Jul-2026
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INCOME TAX : NEWS YOU CAN USE - Cryptocurrency : Crypto should not be legalised in India; RBI tells Parliamentary Panel 2 >>   
INCOME TAX : NEWS YOU CAN USE - MSME : MSMEs key to India's developed nation ambition 2 >>   
INCOME TAX : NEWS YOU CAN USE - NCLT : Supreme Court scraps NCLT, NCLAT rulings over AI-generated fake precedents 3 >>   
INCOME TAX : NEWS YOU CAN USE - SEZ : Industry pushes major SEZ reforms as government panel starts consultations 4 >>   
INCOME TAX : NEWS YOU CAN USE - ICAI : ICAI to prepare new accounting framework for Tirumala Tirupati Devasthanams 6 >>   
INCOME TAX : NEWS YOU CAN USE - Corporate Mitra Scheme : ICAI, ICSI, ICMAI and IIT-Madras join hands for Corporate Mitra scheme 6 >>   
INCOME TAX : NEWS YOU CAN USE - GST : Airlines seek GST on ATF at 5% with full tax credit 7 >>   
INCOME TAX : NEWS YOU CAN USE - GST : Delhi, West Bengal and Tamil Nadu register decline in SGST collections in Q1 FY27 9 >>   
INCOME TAX : NEWS YOU CAN USE - GST : GST collection surges 14% in June 10 >>   
INCOME TAX : NEWS YOU CAN USE - GST : New GST jurisdiction to handle pending cases after business shift; CBIC 11 >>   
INCOME TAX : STATUTES - The Income Tax (Amendment) Ordinance, 2026—Ordinance No. 2 of 2026, dtd. 5-6-2026 12 >>   
INCOME TAX : STATUTES - Clarifications on the Safe Harbour Rules for Sale of Rough Diamonds in Special Notified Zones (SNZs), Reg.—Circular No. 5 of 2026, dtd. 12-5-2026 [F.No 370142/17/2026-TPL] 12 >>   
INCOME TAX : STATUTES - Condonation of Delay in Filing Form No. 10AB Electronically for Approval Under Clause (ii) of the First Proviso to Section 80G(5) of the Income Tax Act, 1961, Reg.—Circular No. 6/2026, dtd. 7-7-2006 [F.No. 300176/3/2026-ITA-I] 14 >>   
INCOME TAX : STATUTES - Section 45(4)(b)—Scientific Research Association or Institution—Approval for Purpose of Section 45(3)(a)(i) r/w Rule 32 and 34—Notification No. 71 of 2026-CBDT, dtd. 25-6-2026[F. No. 203/21/2025/ITA-II] 15 >>   
INCOME TAX : STATUTES - Section 45(4)(b)—Scientific Research Association or Institution—Approval for Purpose of Section 45(3)(a)(i) r/w Rule 32 and 34—Notification No. 72 of 2026-CBDT, dtd. 25-6-2026 [F. No. 203/22/2025/ITA-II] 15 >>   
INCOME TAX : STATUTES - Section 10(46) of Income Tax Act, 1961 r/w section 536(2)(a) to (c) and (e) of Income Tax Act, 2025—Exemption to Specified Income of Notified Bodies or Authorities or Boards or Trusts or Commissions—Mussoorie Dehradun Development A 16 >>   
INCOME TAX : STATUTES - Section 400(1) r/w Section 147—Exemption from TDS Under Section 393(1) Table S.No. 2—Payment of Aircraft Lease Rent to IFSC Units—Notification No. 74/2026, dtd. 3-7-2026 [F.No. 275/16/2026-IT(B)] 17 >>   
INCOME TAX : STATUTES - Section 400(1) r/w Section 147—Exemption from TDS Under Section 393(1) Table S.No. 2—Payment of Ship Lease Rent to IFSC Units—Notification No. 75/2026, dtd. 3-7-2026 [F.No. 275/18/2026-IT(B)] 19 >>   
INCOME TAX : STATUTES - Section 45(4)(b)—Scientific Research Association or Institution—Approval for Purpose of Section 45(3)(a)(i) r/w Rule 32 and 34—Notification No.76 2026-CBDT, dtd. 6-7-2026 [No. 203/46/2025/ITA-II] 21 >>   
INCOME TAX : STATUTES - Section 11 r/w Schedule VII [Table: Sl. No. 42]—Body or Authority or Board or Trust or Commission Exempt from Tax—Telangana Pollution Control Board, Notified—Notification No. 77/2026, dtd. 6-7-2026 [F. No. 300195/39/2025-ITA-I] 21 >>   
INCOME TAX : STATUTES - Section 10(23EE) of Income Tax Act, 1961 r/w Section 536(2)(a) to (c) & (e) of Income Tax Act, 2025—Exemption to Specified Income of Core Settlement Guarantee Fund, Set up by a Recognised Clearing Corporation—Core Settlement Guaran 22 >>   
INCOME TAX : STATUTES - Section 11 r/w Sch. III Table S.No. 30—Exempt Income—Core Settlement Guarantee Fund, Notified as a Recognized Clearing Corporation—Notification No. 79/2026, dtd. 7-7-2026 [F.No.197/39/2018-ITA-I] 23 >>   
INCOME TAX : STATUTES - Clarificatory Frequently Asked Questions (FAQs) Related to Transition Provisions Under Section 536 of The Income Tax Act, 2025 (Repeals and Savings)—Office Memorandum F. No. 370149/107/2026–TPL, dtd. 6-7-2026 23 >>   
INCOME TAX : PRACTICE UPDATE - Continuity of Tax Incentives Under New Dispensation—V.K. SUBRAMANI 24 >>   
INCOME TAX : ARTICLES - The Backdoor Backstabbing in Capital Gains—SRIVATSAN RANGANATHAN 29 >>   
INCOME TAX : ARTICLES - Section 206C(1C) and the Limits of TCS in Mining Regulations : Compounding Fines, Illegal Operators and the Scope of Statutory Collection—CS. AYUSH RATHI 34 >>   
INCOME TAX : ARTICLES - Reassessment during Pendency of Rectification Proceedings—Jurisdictional Limits on the Assessing Officer—SHRIPAL MEHTA 38 >>   
GST : ARTICLES - Excess Stock Found at Business Premises of Assessee—Validity of Proceeding under Section 130—CA. SATYADEV PUROHIT 42 >>   
GST : ARTICLES - Secondment of Employee—Treatment Under GST—NARENDRA KUMAR 47 >>   
GST : ARTICLES - Quoting Document Identification Number on GST Notices and Orders : The Mandate of Digital Integrity—ACS. SHRUTI PHOPHALIYA 52 >>   
SEBI : ARTICLES - SEBI’s Reforms to Social Stock Exchange Framework : Enhancing Fund-Raising Flexibility for NPOs—CA. DEEPAK HARWANI 57 >>   
FOREIGN LLPS : ARTICLES - Foreign LLPs in India : FEMA and LLP Act Overlap—CA. DEEPAK HARWANI 59 >>   
RENEWABLE ENERGY : ARTICLES - Why Rajasthan is a Premier Destination for Utility—Scale Solar Power Investments—CS. RAKSHA SANKHLECHA 63 >>   
INCOME TAX : CASE LAW DIGESTS - Abhimanyu Gupta v. Dy.CIT (2026) 203 TR (A) 198 (Chd 'A'-Trib) : 2026 TaxPub(DT) 1410 (Chd 'A'-Trib) 83 >>   
INCOME TAX : CASE LAW DIGESTS - Adani Tracks Management Service Ltd. (Formerly Known as Adani Tracks Management Service (P) Ltd.) (Also Formerly Known as Surgula Rail Corridor (P) Ltd. v. AO-CPC (2026) 203 TR (A) 192 (Del 'B'-Trib) : 2026 TaxPub(DT) 463 ( 76 >>   
INCOME TAX : CASE LAW DIGESTS - Ammann India (P) Ltd. v. Pr. CIT (2026) 203 TR (A) 227 (Ahd 'D'-Trib) : 2026 TaxPub(DT) 1645 (Ahd-Trib) 112 >>   
INCOME TAX : CASE LAW DIGESTS - Anil Agrawal v. Asstt.CIT (2026) 203 TR (A) 229 (Rpr-Trib) : 2026 TaxPub(DT) 1652 (Rpr-Trib) 114 >>   
INCOME TAX : CASE LAW DIGESTS - Anupama Chand v. Dy. CIT (2026) 203 TR (A) 219 (Telanga-HC) : 2026 TaxPub(DT) 983 (Telangana High Court-HC) 104 >>   
INCOME TAX : CASE LAW DIGESTS - Arunaben Kishorkumar Mandalia v. Pr. CIT (2026) 203 TR (A) 226 (Ahd 'D'-Trib) : 2026 TaxPub(DT) 518 (Ahd-Trib) 111 >>   
INCOME TAX : CASE LAW DIGESTS - Ashapura Developers v. Asstt. CIT, Circle-1 (2026) 203 TR (A) 189 (Mum 'A'-Trib) : 2026 TaxPub(DT) 161 (Mum-Trib) : (2026) 217 ITD 140 (Mum-Trib) 73 >>   
INCOME TAX : CASE LAW DIGESTS - Ashok Kumar Mehrotra v. ITO (2026) 203 TR (A) 200 (Del-Trib) : 2026 TaxPub(DT) 1157 (Del-Trib) 84 >>   
INCOME TAX : CASE LAW DIGESTS - Asst. CIT v. M/s. Aamby Valley Ltd. R/o Hotels Sahara Star (2026) 203 TR (A) 184 (Del-Trib) : 2026 TaxPub(DT) 2625 (Del 'F'-Trib) 69 >>   
INCOME TAX : CASE LAW DIGESTS - Asst. CIT, Central Circle-1, New Delhi v. M/s. Aamby Valley Ltd. R/o Hotels Sahara Star & M/s. Aamby Valley Ltd. R/o Hotels Sahara Star v. Asst. CIT, Central Circle-1, New Delhi (2026) 203 TR (A) 191 (Del-Trib) : 2026 TaxPu 75 >>   
INCOME TAX : CASE LAW DIGESTS - Asstt. CIT 1(1) v. Kriti Nutrients Ltd. (2026) 203 TR (A) 192 (Ind-Trib) : 2026 TaxPub(DT) 1082 (Ind-Trib) 77 >>   
INCOME TAX : CASE LAW DIGESTS - Asstt. CIT v. Brij Bhushan Gupta (2026) 203 TR (A) 215 (Del 'A'-Trib) : 2026 TaxPub(DT) 171 (Del-Trib) 99 >>   
INCOME TAX : CASE LAW DIGESTS - Atma Ram Builders (P) Ltd. v. ITO (2026) 203 TR (A) 225 (Del 'E'-Trib) : 2026 TaxPub(DT) 439 (Del 'E'-Trib) 110 >>   
INCOME TAX : CASE LAW DIGESTS - Bajaj Electricals Ltd. v. Asstt. CIT (2026) 203 TR (A) 209 (Bom-HC) : 2026 TaxPub(DT) 772 (Bom-HC) : (2026) 308 Taxman 500 (Bom) 94 >>   
INCOME TAX : CASE LAW DIGESTS - Bax India Ventures Pvt. Ltd. v. Central Processing Centre & Ors. (2026) 203 TR (A) 207 (Bom-HC) : 2026 TaxPub(DT) 1195 (Bom-HC) 92 >>   
INCOME TAX : CASE LAW DIGESTS - Bhaumik Jewellers (P) Ltd. v. ITO (2026) 203 TR (A) 198 (Ahm-Trib) : 2026 TaxPub(DT) 1148 (Ahd-Trib) 82 >>   
INCOME TAX : CASE LAW DIGESTS - Bindu Dharmesh Bhatt v. ACIT (2026) 203 TR (A) 212 (Ahm-Trib) : 2026 TaxPub(DT) 723 (Ahd-Trib) 96 >>   
INCOME TAX : CASE LAW DIGESTS - Capegemini Technology Services India Ltd. v. Deputy Commissioner of Income Tax & Ors. (2026) 203 TR (A) 184 (Bom-HC) : 2026 TaxPub(DT) 2189 (Bom-HC) 68 >>   
INCOME TAX : CASE LAW DIGESTS - Choksi Ranchhodlal Kishordas v. Pr.CIT (2026) 203 TR (A) 225 (Ahd 'C'-Trib) : 2026 TaxPub(DT) 1236 (Ahd-Trib) 109 >>   
INCOME TAX : CASE LAW DIGESTS - CIT v. Ucal Fuel Systems Ltd. (2026) 203 TR (A) 202 (Mad-HC) : 2026 TaxPub(DT) 1225 (Mad-HC) 87 >>   
INCOME TAX : CASE LAW DIGESTS - Commissioner of Income Tax (Exemptions), Jaipur v. Jaipur Development Authority, Jaipur Urban Development Authority, Jaipur (2026) 203 TR (A) 187 (Raj-HC) : 2026 TaxPub(DT) 1203 (Raj-HC) 72 >>   
INCOME TAX : CASE LAW DIGESTS - Deputy Commissioner of Income Tax, Central Circle-20, Jhandewalan Extension v. Sterling Agro Industries Ltd. (2026) 203 TR (A) 188 (Del-Trib) : 2026 TaxPub(DT) 433 (Del 'B'-Trib) 72 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Asha Bhagwanrao Kadam A-3/201, Karishma Society, Opp. Karve Road, Kothrud, Pune-411038, and Smt. Asha Bhagwanrao Kadam A-3/201, Karishma Society, Opp. Karve Road, Kothrud, Pune 411038 v. Dy. CIT (2026) 203 TR (A) 107 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT v. Pancham Developers (2026) 203 TR (A) 200 (Ahd 'B'-Trib) : 2026 TaxPub(DT) 1077 (Ahd-Trib) 85 >>   
INCOME TAX : CASE LAW DIGESTS - Dy. CIT(E)-1(1) v. Aditya Birla Foundation (2026) 203 TR (A) 186 (Mum 'A'-Trib) : 2026 TaxPub(DT) 1666 (Mum-Trib) 71 >>   
INCOME TAX : CASE LAW DIGESTS - G.S. Procon (P) Ltd. v. ACIT, Circle-5 (2), Kolkata (2026) 203 TR (A) 195 (Kol-Trib) : 2026 TaxPub(DT) 48 (Kol-Trib) 80 >>   
INCOME TAX : CASE LAW DIGESTS - Gryphon Ceramics Private Limited v. Asstt. CIT & Anr. (2026) 203 TR (A) 208 (Guj-HC) : 2026 TaxPub(DT) 1200 (Guj-HC) 93 >>   
INCOME TAX : CASE LAW DIGESTS - ITO v. Wizcraft Entertainment Agency (P) Ltd. (2026) 203 TR (A) 190 (Mum 'G'-Trib) : 2026 TaxPub(DT) 1647 (Mum-Trib) 74 >>   
INCOME TAX : CASE LAW DIGESTS - Kaushal Ganpatbhai Patel v. ITO (2026) 203 TR (A) 185 (Ahd 'D'-Trib) : 2026 TaxPub(DT) 1618 (Ahd 'D'-Trib) 70 >>   
INCOME TAX : CASE LAW DIGESTS - Liquors India Ltd. v. Asst. CIT (2026) 203 TR (A) 197 (Telanta-HC) : 2026 TaxPub(DT) 985 (Telangana High Court-HC) 81 >>   
INCOME TAX : CASE LAW DIGESTS - Mahesh Shrivastava v. ITO (2026) 203 TR (A) 193 (Rpr-Trib) : 2026 TaxPub(DT) 1651 (Rpr-Trib) 78 >>   
INCOME TAX : CASE LAW DIGESTS - Nafeeja Bi W/o Shabbir Ahamed, Nusrath Manzil v. ITO (2026) 203 TR (A) 220 (Lkw 'B'-Trib) : 2026 TaxPub(DT) 1174 (Luck-Trib) 105 >>   
INCOME TAX : CASE LAW DIGESTS - Pringalkumar v. ITO (2026) 203 TR (A) 201 (Ahd 'C'-Trib) : 2026 TaxPub(DT) 1235 (Ahd-Trib) 86 >>   
INCOME TAX : CASE LAW DIGESTS - Pune Zilla Sahakari Dudh Utpadak Sangh Maryadit v. Dy. CIT (2026) 203 TR (A) 204 (Pun 'B'-Trib) : 2026 TaxPub(DT) 1381 (Pune 'B'-Trib) 89 >>   
INCOME TAX : CASE LAW DIGESTS - R. Viswanathan & Ors. v. Dy.CIT & Ors. (2026) 203 TR (A) 218 (Ind-Trib) : 2026 TaxPub(DT) 1083 (Chenn-Trib) 103 >>   
INCOME TAX : CASE LAW DIGESTS - Rallis India Limited v. Central Processing Centre & Ors. (2026) 203 TR (A) 207 (Bom-HC) : 2026 TaxPub(DT) 1214 (Bom-HC) 91 >>   
INCOME TAX : CASE LAW DIGESTS - Ramanbhai Jethabhai Jadav, C/o. MS Chhaajed & Co. CA v. Pr. CIT-3 (2026) 203 TR (A) 228 (Ahm-Trib) : 2026 TaxPub(DT) 1073 (Ahd-Trib) 112 >>   
INCOME TAX : CASE LAW DIGESTS - Ranjana Roy v. Initiating Officer, Kolkata (2026) 203 TR (A) 230 (Del-Trib) : 2026 TaxPub(DT) 1836 (SAFEMA-New Delhi) 115 >>   
INCOME TAX : CASE LAW DIGESTS - Ravi Raika v. Asstt.CIT (2026) 203 TR (A) 214 (Rpr-Trib)(SMC) : 2026 TaxPub(DT) 1650 (Rpr-Trib) 99 >>   
INCOME TAX : CASE LAW DIGESTS - Satara Engineering Projects & Equipments (P) Ltd. v. Dy. CIT (2026) 203 TR (A) 205 (Pun 'B'-Trib) : 2026 TaxPub(DT) 677 (Pune-Trib) 90 >>   
INCOME TAX : CASE LAW DIGESTS - Sewa Sahakari Samiti Latabod v. ITO (2026) 203 TR (A) 204 (Rpr-Trib)(SMC) : 2026 TaxPub(DT) 1663 (Rpr-Trib) 88 >>   
INCOME TAX : CASE LAW DIGESTS - Shaheed Darshan Filling Station v. ITO (2026) 203 TR (A) 215 (Chan-Trib) : 2026 TaxPub(DT) 1161 (Chd-Trib) 100 >>   
INCOME TAX : CASE LAW DIGESTS - Smt. Sharen Nitin Naik v. Principal Commissioner of Income Tax (2026) 203 TR (A) 186 (Bom-HC) : 2026 TaxPub(DT) 922 (Bom-HC) 70 >>   
INCOME TAX : CASE LAW DIGESTS - Sophos Technologies (P) Ltd. v. Dy. CIT (2026) 203 TR (A) 206 (Ahd 'A'-Trib) : 2026 TaxPub(DT) 724 (Ahd-Trib) 91 >>   
INCOME TAX : CASE LAW DIGESTS - Subhkaran & Sons v. Dy. CIT (2026) 203 TR (A) 218 (Mum-Trib) : 2026 TaxPub(DT) 80 (Mum 'C'-Trib) 102 >>   
INCOME TAX : CASE LAW DIGESTS - Sugee Developers v. Dy. CIT (2026) 203 TR (A) 231 (Del-Trib) : 2026 TaxPub(DT) 1750 (SAFEMA-New Del) 115 >>   
INCOME TAX : CASE LAW DIGESTS - Sujith Surampudi Ghatkesar v. Income Tax Officer (2026) 203 TR (A) 230 (Hyd-trib) : 2026 TaxPub(DT) 714 (Hyd-Trib) 114 >>   
INCOME TAX : CASE LAW DIGESTS - Surendra Garg (HUF) v. Income Tax Officer (2026) 203 TR (A) 212 (Mum-Trib) : 2026 TaxPub(DT) 44 (Mum-Trib) 80 >>   
INCOME TAX : CASE LAW DIGESTS - Tapas Kundu v. ITO (2026) 203 TR (A) 199 (Kol-Trib) : 2025 TaxPub(DT) 9256 (Kolkata SMC Tribunal) 84 >>   
INCOME TAX : CASE LAW DIGESTS - The Karad Urban Sevak Sahakari Patsanstha Maryadit Karad v. Income Tax Officer (2026) 203 TR (A) 205 (Pune-Trib) : 2026 TaxPub(DT) 1150 (Pune-Trib) 89 >>   
INCOME TAX : CASE LAW DIGESTS - TUEL v. ITO (2026) 203 TR (A) 210 (Del 'A'-Trib) : 2026 TaxPub(DT) 991 (Del-Trib) 94 >>   
INCOME TAX : CASE LAW DIGESTS - Umashanker Modi v. Income Tax Department National faceless Appeals Centre (NFAC) A225 (2026) 203 TR (A) 223 (Mum'F'-Trib) : 2026 TaxPub(DT) 388 (Mum 'F'-Trib) 108 >>   
INCOME TAX : CASE LAW DIGESTS - Vineet Arya v. Deputy Commissioner of Income Tax (2026) 203 TR (A) 214 (Ahm-Trib) : 2026 TaxPub(DT) 1145 (Ahd-Trib) 98 >>   
INCOME TAX : CASE LAW DIGESTS - Vivaansh Edutech (P) Ltd. v. Asstt. CIT (2026) 203 TR (A) 213 (Guj-HC) : 2026 TaxPub(DT) 326 (Guj-HC) : (2026) 308 Taxman 623 (Guj) 97 >>   
INCOME TAX : CASE LAW DIGESTS - Zafar Iqbal v. Dy. CIT (2026) 203 TR (A) 194 (Kol 'C'-Trib) : 2026 TaxPub(DT) 1684 (Kol-Trib) 79 >>   
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