CIT (A) erred in treating the loan of Rs.90.52 crores u/s 69A/69B when the show cause notice of enhancement was with reference to section 69 and there were neither any investments which were not recorded in the books of account nor is there any such finding by the CIT(A).
ITAT Kolkata held that addition under section 68 of the Income Tax Act as unexplained cash credit not sustainable since identity, creditworthiness and genuineness of the transaction relating to the share capital sufficiently established.
Madras High Court held that as per rule 86A(3) of the Central Goods and Services Tax Rules, 2017 [CGST Rules] blocking of input tax credit available in electronic credit ledger lapses after a period of one year from the date of blocking.
In the matter abovementioned Hon’ble Madras HC denied to grant any relief to the petitioner by holding that ITAT is the ultimate fact finding body and findings of facts of the Tribunal cannot be interfered under Section 260A of IT Act.
Explore the potential effects of the proposed wage ceiling increase under the EPF Act on employers, employees, and provident fund contributions.
In a recent ruling Hon’ble Madras HC considered that there is mismatch between GSTR-3B and GSTR-2A and petitioner is ready to pay 25 % of the total tax in dispute. HC granted on more opportunity to the petitioner after complying the directions.
The 55th GST Council Meeting introduced changes in GST rates, compliance mechanisms, and exemptions for businesses, including new definitions and tax amendments.
Delhi High Court quashes GST order for Anant Wire Industries, citing non-compliance with SCN service requirements and remands case for reconsideration.
IBBI suspends insolvency professional for accepting assignments despite AFA suspension. Disciplinary action highlights regulatory compliance and ethical practices in IBC.
Sri Paripoorna Sanathana Trust gets approval for scientific research under section 35 of the Income-tax Act, valid for AY 2025-26 to 2029-30.
