Supreme Court clarifies ITC eligibility on construction for immovable properties, outlining exceptions and implications for businesses in the Safari Retreats case.
Hon’ble ITAT Pune rules that penalties under Section 271(1)(c) should not be imposed for genuine mistakes or debatable claims in tax assessments.
Supreme Court ruling clarifies that buildings can qualify as ‘plant’ under Section 17(5)(d) of CGST, allowing ITC if essential for service provision.
Learn how the new GST Invoice Management System (IMS) improves ITC reconciliation, enhances compliance, and streamlines invoicing processes for businesses from October 2024.
The Supreme Court upheld its decision allowing states to tax mineral rights, dismissing review petitions citing no apparent error in the initial ruling.
The Supreme Court upholds TOLA, validating extended income tax reassessment timelines despite previous High Court rulings on Section 148 notices.
Patna High Court held that assigning reasons or grounds is mandatory while preparing seizure memo. Action based on local trader’s opinion is not reliable and acceptable. Accordingly, seizure memo is liable to be set aside.
Present application has been filed on behalf of Taxation Bar Association seeking modification of Para 35(11.17)(iv) of the judgment dated 19th March, 2024 insofar as it requires twelve appearances in a year to be eligible to vote in elections.
Gauhati High Court held that the Summary of the Show Cause Notice along with the attachment containing the determination of tax cannot be said to be a valid initiation of proceedings under Section 73 without issuance of a proper Show Cause Notice.
Bombay High Court remanded the matter of correct treatment of losses arising due to exchange rate fluctuation since order doesn’t deal with import of Section 43A of the Income Tax Act and its interplay with section 37(1).
