Gujarat High Court grants bail to Harsh Vinodbhai Patel in GST fraud case involving ₹22 crore input tax credit. Court cites completed investigation as key factor.
ITAT Jaipur dismisses Bansi Lal’s appeal, upholding additions for unexplained bank deposits and interest income. Tribunal cites lack of evidence and inconsistencies in explanations.
RBI invites public comments on draft circular regarding foreclosure charges and pre-payment penalties on loans. Stakeholders can submit feedback by March 21, 2025. Final circular issuance to follow public consultation.
Gujarat High Court quashes FIR against KGN Enterprises in alleged bogus billing and ITC claim case, citing ongoing tribunal proceedings and lack of evidence.
Madras High Court upholds ITAT ruling that Viswapriya Financial Services had reasonable cause for non-deduction of TDS under Section 194A, dismissing Revenue’s appeal.
Delhi High Court quashes Commissioner’s order upholding penalty under Section 271C of the Income Tax Act for failure to deduct TDS, citing non-consideration of reasonable cause.
ITAT Jaipur rules assessment valid despite no penalty initiation in Mikuni India case. Tribunal cites precedents, highlights separation of assessment and penalty proceedings.
The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of “Accountant” under Section 515(3)(b) of Income-Tax Bill 2025.
Allahabad High Court stays GST demand on UP Medical Supplies Corp for supplying medicines to govt hospitals, questioning taxability under Section 7(1)(a) of CGST Act.
Bombay High Court quashes a ₹100 crore tax demand against Mumbai Port Authority, ordering a fresh review after claims of an ex parte decision.
