SAG Infotech Official Tax Blog

The Income Tax Appellate Tribunal has deleted a transfer pricing adjustment of ₹2.84 crore arising from transactions between the assessee and its wholly owned US LLC. The Tribunal observed that the profits earned by the US LLC had already been included in the assessee’s taxable income and subjected to tax in India. Accordingly, it held […]

The Income Tax Appellate Tribunal upheld the addition of ₹11.14 crore on account of bogus purchases and sustained a 50% disallowance of labour charges, observing that the transactions remained unverified and were not supported by credible documentary evidence. The Tribunal held that the assessee failed to substantiate the genuineness of the claims with adequate supporting […]...

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, deleted a disallowance of Rs. 7.18 lakh, observing that a difference of opinion regarding the head of expenditure or its nomenclature could not justify the denial of a deduction when the expenses were incurred for the taxpayer’s business. The taxpayer, Bengal Peerless Housing Development Company Ltd., had […]

The Central Board of Direct Taxes (CBDT) has issued Notification No. 70/2026, dated June 1, 2026, identifying specific infrastructure-related businesses as eligible under the Income-tax Act, 2025. The Ministry of Finance, Department of Revenue, issued the notification, in exercise of powers granted u/s 11(5) read with Note 5(d)(ii) of Schedule V [Table: Sl. No. 7] […]

In the Country, Haryana has attained the top position for state GST revenue growth for May 2026, registering a 22% rise over the corresponding month last year. The state has surpassed the national average growth rate of 6% in the period. As per official data, the net State GST collection (post-settlement) of Haryana has stood […]