CESTAT Delhi quashes orders passed after one year of SCN issuance in Kopertek Metals Pvt Ltd vs CGST Commissioner, emphasizing statutory adjudication timelines.
Reports on GST rate changes based on GoM deliberations are premature, as the GST Council has not yet received any recommendations.
Learn how to prepare GSTR-9 returns offline using Excel-based tool, including steps to generate and upload JSON files.
ITAT Ahmedabad held that addition u/s. 69 of the Income Tax Act towards unexplained investment unsustainable since assessee had explained the source of investment in FDs as being from his FD/OD account.
Telangana High Court held that the surrender of the rights results in impairment of profit making apparatus of the company and thus amount received under agreement for surrender of rights in capital assets is capital receipt. Accordingly, the appeal by revenue dismissed.
RBI updates KYC regulations for entities with links to ISIL & Al-Qaida. New amendments to UNSC sanctions list as of December 2, 2024.
ITAT Mumbai rules no addition can be made for differences between GST returns and ITR if reconciled. Assessee followed project completion method for accounting.
Manish Manohardas Asrani Vs ITO Int Tax Ward (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, ruled in favor of the assessee, Manish Manohardas Asrani, quashing a penalty of ₹44,90,048 levied under Section 270A(8) of the Income Tax Act, 1961. The tribunal held that the penalty notice lacked specificity regarding the charge—whether it pertained […]
Madras High Court held that petitioner being unaware of initiation of proceedings are directed to deposit 25% of disputed tax and submit objections by treating impugned assessment order as show cause notice.
ITAT Kolkata held that treating purchases from concern as bogus merely because for another year purchases from the said concern were treated by AO as bogus is not justified since in relevant year AO duly treated the purchases as genuine.
