CBDT amends Income-tax Rules 114F, 114G & 114H

India’s ECB Framework 2026: A New Era of Liberalized Cross-Border Borrowing

HC: Quashes coercive recovery against Wipro, citing deferred reporting of credit-notes in GSTR-3B

• In Favour of Petitioner
• Citation Number : TS-136-HC(BOM)-2026-GST

ITAT: Sale of land post conversion to non-agricultural taxable as capital gains, outside exemption u/s 2(14)(iii)

• In Favour of Revenue
• Citation Number : TS-290-ITAT-2026(HYD)

HC: Declines de-freezing of BuckBox’s bank account linked to payout transactions for online gaming company

• In Favour of Respondent
• Citation Number : TS-135-HC(GUJ)-2026-GST

AT PMLA: “FEMA doesn’t shield illegitimate, unexplained funds”; Upholds contravention, reduces penalty for illegal forex transfer

HC: “FEMA no bar to foreign-decree execution”; Enforces foreign court’s decree, rejects FEMA-violation plea

ITAT: Disallows entire bogus purchases & restricts ad-hoc addition of unverified business expenses to 10%

• In Favour of Both, Partially
• Citation Number : TS-289-ITAT-2026(Mum)

South Africa : 2026 Budget in Depth: South Africa Adjusts Personal Income Tax Rates in Line with 3.4% Inflation

NCLT: Approves Chennai-based leading real estate developer’s resolution plan for construction co.

ITAT: Rejects profit estimation basis contradictory stand taken by Revenue; Deletes addition

• In Favour of Assessee
• Citation Number : TS-288-ITAT-2026(Bang)

ITAT: Sec. 153C notice issued after gap of 10-months from assessment order of searched person, invalid

• In Favour of Assessee
• Citation Number : TS-287-ITAT-2026(HYD)

ITAT: Notice u/s 143(2) invalid citing lack of pecuniary jurisdiction as per CBDT instruction; Quashes assessment

• In Favour of Assessee
• Citation Number : TS-286-ITAT-2026(DEL)

HC: Grants bail to former Chhattisgarh CM’s Dy. Secy in Rs. 2883 cr. liquor scam

ITAT: Outstanding trade liability recorded in books sans write-back or remission not cessation u/s 41(1)

• In Favour of Assessee
• Citation Number : TS-279-ITAT-2026(Mum)

ITAT: Grants exemption u/s 54F as possession of new property taken within 2 years from original-asset sale

• In Favour of Assessee
• Citation Number : TS-278-ITAT-2026(Mum)

CCI: Clears Bagmane Prime Office REIT’s acquisition of stake in Bagmane Developers, others

CCI: Allows General Atlantic Singapore BWP’s acquisition of stake in Balaji Wafers

CCI: Approves Central Bank of India’s additional equity acquisition in Generali Central Insurance entities

ITAT: Mere retraction of admission insufficient to vacate additions; Confirms unexplained cash addition citing incriminating material

• In Favour of Assessee
• Citation Number : TS-285-ITAT-2026(PAN)