ITAT Delhi held that the onus is on the assessee to prove both source and nature of the credits in case of unexplained credit u/s 68. Unexplained credit will sustain in case the assessee fails to prove any of the same.
Explore the provisions of GST Audit by Tax Authorities under Section 65. Understand the audit process, place of conduct, intimation, completion period, auditee’s obligations, audit report, and consequences of tax discrepancies. Stay informed on GST compliance and avoid potential liabilities.
The main focus of the Constitution of India is to provide protection of Life and Personal Liberty, and in order to achieve this aim, our Indian Constitution provides for a structured Combination of Courts.
Real estate sector plays a catalytic role in fulfilling the needs and demand for housing and infrastructure in the country and is an important pillar of the economy. While this sector has grown significantly in recent years, it has been largely unregulated, with absence of professionalism and standardization and lack of adequate consumer protection.
ITAT Allahabad held that while rejecting the application for grant of approval u/s 10(23C)(vi) CCIT has not dealt with all the aspects in a comprehensive manner and hence the matter restored back for passing detailed and exhaustive order.
CESTAT Delhi held that refund of transitional credit entitled to the assessee, as the assessee was unable to file TRAN-1 due to the technical glitches.
CESTAT Mumbai held that CENVAT credit is available against invoices and also against debit notes which contains all the substantial information as prescribed in rule 9 of the CENVAT Credit Rules, 2004
Food Safety and Standards (Labelling and Display) Second Amendment Regulations, 2022 shall come into force on 1st May, 2023.
Data Centres and Energy Storage Systems (ESS) is included in the Harmonized Master List of Infrastructure sub-sectors
Crypto-Asset Reporting Framework and a set of amendments to Common Reporting Standard , as approved by OECD Committee on Fiscal Affairs in August 2022.
