CBIC exempts GST on contributions by insurers to the Motor Vehicle Accident Fund for compensation to accident victims, effective from January 2025.
ITAT Delhi held that merely seizure of share certificate cannot be considered as incriminating material on its own unless other corroborative evidence are found during the search. Accordingly, appeal of the department dismissed.
ITAT Surat held that addition towards cash deposited during demonetization restricted to 10% of total deposit since assessee fully substantiated the cash deposit showing sufficient withdrawal. Accordingly, appeal partly allowed.
Madras High Court directed to grant an opportunity of being heard on payment of 25% of disputed taxes in the case of fraudulent availment of input tax credit on the basis of bogus invoices.
Delhi High Court held that clause (b) of Section 148A of the Income Tax Act does not stipulate that the Assessee is required to be provided minimum of seven working days. Accordingly, petition held to be unmerited and hence disposed of.
Madras High Court held that GST demand on account of mismatch between Form 26AS and GSTR 2B is liable to be set aside on payment of 25% of pre-deposit. Accordingly, opportunity of being heard will be granted on payment of directed pre-deposit.
NCLAT Chennai held that order not falling under Part II of the Insolvency and Bankruptcy Code, 2016 [IBC] is not appealable under section 61 of the IBC and accordingly appeal dismissed as not maintainable.
RBI updates FEMA regulations to encourage Indian Rupee and local currencies for cross-border transactions. Learn about the revised provisions and benefits.
ITAT Jaipur held that taxability of surrendered undisclosed income under section 115BBE of the Income Tax Act requires verification on the part of the AO. Accordingly, matter restored back to the file of AO.
Union Territory GST Notification 05/2025 revises definitions and processes for declaring “specified premises” for hotels, introducing new declaration formats for compliance.
