Assessee was a illiterate farmer. Assessment was completed by making an addition of Rs. 1,55,00,000/- u/s 69 on account of purchase of immovable property. Assessment order as well as CIT (A) order, dismissing the appeal, were passed ex-parte.
Madras HC directs adherence to Section 169 of the Tamil Nadu GST Act, 2017 for valid service of notices, ensuring compliance with natural justice principles.
Explore fraud indicators in PSU and Government contract audits, including billing fraud, bribery, kickbacks, change order abuse, check tampering, and conflicts of interest.
Delhi HC directs the tax department to return seized documents within 30 days and provide copies of data from seized devices as per Section 67 of CGST Act.
CBIC updates Customs Notification 12/97, adding Virudhunagar, Ahmedabad to Gujarat for unloading imports and loading exports. Effective from January 14, 2025.
Andhra Pradesh High Court ruled that Central GST orders must be issued in both Hindi and English, ensuring compliance with the Official Language Act.
RBI amends Foreign Exchange Management Regulations, enabling Indian exporters to hold foreign currency accounts abroad for export realisations and import payments.
RBI amends FEMA Deposit Regulations, allowing SNRR accounts abroad and facilitating fund transfers between repatriable Rupee accounts for bona fide transactions.
CPRI, Bengaluru, approved as a ‘Research Association’ under section 35 of the Income-tax Act, 1961, for tax benefits from AY 2025-26 to 2029-30.
Once the lubricant became a taxable item at the hands of the manufacturer and importer, it became non-VATable good for the trader, therefore, ITC in relation to lubricants was required to be reversed.
