Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrations and FAQs about eligibility, calculations and impacts on special rate incomes.
Explore the implications of Section 16(2)(c) of the CGST Act, balancing taxpayer rights and government revenue in Input Tax Credit (ITC) eligibility under GST.
Supreme Court examines “first offence” definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case. Detailed analysis of the ruling.
ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do not receive payments in their own right.
Bombay High Court rules that service tax cannot be imposed solely on income tax return data. The department may issue a fresh notice for income from other sources.
Andhra Pradesh HC quashes GST assessment order due to missing DIN, citing Supreme Court and CBIC guidelines. Fresh assessment directed with proper notice and DIN.
Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricultural income exemption claim.
Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi High Court’s decision in PCIT vs. Dev Technofab Ltd.
Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incriminating material for reopening assessments.
IBBI updates reporting rules for insolvency professionals, requiring timely assignment updates on its portal for CIRP, liquidation, and personal guarantor cases.
