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Understand GST reconciliation by mapping figures across GSTR-1, GSTR-3B, GSTR-9, and GSTR-9C. Ensure compliance and accuracy in tax filings and audits.
ITAT Mumbai held that disallowance of short term capital loss not justified since there is no evidence on record based on which genuineness of transactions can be doubted. Hence, held that conclusion drawn by AO is wholly irrational and unsustainable.
Madras High Court ruled that Rule 86A of CGST Rules allows negative ITC blocking, irrespective of credit availability in ECL, to curb fraudulent input tax credit.
J&K High Court upholds preventive detention for cow smuggling, citing its threat to public order and impact on religious sentiments under the Public Safety Act.
Allahabad High Court held that non-production of documents which were relied upon by the department amounts to violation of principles of natural justice. Accordingly, impugned order liable to be quashed.
Thus, the prayer of the Appellant to exclude the commercial space from the Resolution Plan, could not have been accepted, nor any direction could have been issued for registration of Sale Deed.
Kerala High Court held that a loss in the derivative business is a business loss for the purposes of Section 72, and thus a set off of such business loss would have to be permitted against profits and gains of business.
ITAT Mumbai held that levy of interest under section 201(1A) of the Income Tax Act for lower deduction of TDS not justified since the lower deduction in earlier months were due to bonafide reasons and the same was adjusted in later months.
Allahabad High Court held that appeal u/s. 260A of the Income Tax Act is not sustainable since there is no perversity in finding of the Tribunal and accordingly there exists no substantial question of law. Accordingly, appeal dismissed.
