RBI advises regulated entities to comply with amendments to Section 12A of the WMD Act 2005 and updated UNSC sanctions list on DPRK. Compliance required daily.
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Allahabad High Court grants bail to Gurmeet Singh Batra in a ₹2645.29 crore GST scam case involving fake firms and fraudulent input tax credit claims.
ITAT Delhi held that penalty u/s. 271AAB of the Income Tax Act not imposable as AO failed to link additional income disclosed by the assessee with the incriminating material found during search. Thus, penalty u/s. 271AAB deleted.
Rajasthan HC ruled that a refund denial based solely on Circular 135/05/2020-GST is invalid due to conflict with CGST Act. Case remitted for fresh decision.
ITAT Ahmedabad held that initiation of reopening of assessment based on mere change of opinion and not taking into account the work-in-progress method of accounting followed by the assessee is unjustifiable and liable to be quashed.
Assessee-company was engaged in the business of trading of electromechanical relays, wire and wireless equipment, high performance polymeric products, highly specialized energy related products, was subject to scrutiny.
One Time Settlement (OTS) schemes were launched by the Telangana Government to enable the tax payers to settle the disputed tax amounts under the Telangana Value Added Tax Act (VAT Act) and the Central Sales Tax Act (CST Act).
Reassessment under section 147 was not justified as there was no “close nexus” or “live link” between tangible material and the reason to believe that income had escaped assessment.
Explore the legal framework for GST inspections at unregistered persons’ premises, focusing on compliance and departmental procedures.
