Learn about disallowed expenses under PGBP in India’s Income Tax Act. Understand key sections like 37, 40, and 40A, and their impact on business deductions.
Gauhati High Court set aside the order as passed without affording due opportunity and against the principles of natural justice since the notice under CGST Act, 2017 was issued to incorrect address.
Madras High Court held that Powder Coating products like yokes, links and tubes amounts to works contract and hence the same is liable to tax under section 15(1) of the Puducherry Value Added Tax Act, 2007.
Assessee explained that borrowed funds were used for investments in partnership firms, generating interest income exceeding expenses. AO accepted the claim and approved the returned income as assessed income.
Where assessee had made supply of the cotton seed oil cake as cattle feed, assessee was entitled to exemption under Serial No.102 of Exemption Notification No.2 of 2017 no matter if the product was supplied to traders or directly to consumers.
Commissioner of GST and Central Excise (CX) was directed to recover interest from the salaries or retirement benefits of officers responsible for the non-renewal of fixed deposits (FDs) arising from seized cash during an investigation.
Notification No. 02/2024 establishes new GST rules for Ladakh, adapting Central GST regulations to the Union Territory, effective from publication date.
CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024.
ITAT Mumbai held that hardship compensation is not a revenue receipt but constitute a capital receipt. Accordingly, AO directed to delete addition made towards the same.
Delhi High Court held that GST registration cannot be cancelled with retrospective effect. Accordingly, GST registration cancelled from the date on which it the registration was suspended.
