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Archive: February, 2025

Posts in February, 2025

Karnataka HC directs Assessee to raise all contentions in GST SCN Response

February 8, 2025 156 Views 0 comment Print

Karnataka High Court allows Vaishan Traders to contest discrepancies in GST seizure case, directing compliance with the hearing notice. Read the case summary here.

GST registration and payment of tax after inspection not voluntary conduct by assessee

February 8, 2025 174 Views 0 comment Print

There has been contraventions of provisions of the GST Act for which the petitioner is liable to make good the non-payment and also suffer penal consequences for the same.

Orissa HC Stays SCN-Based Order Alleging Wrongful ITC Availment

February 8, 2025 258 Views 0 comment Print

Orissa High Court stays order in Coastal Construction’s GST dispute over ₹37 lakh ITC reversal. Case involves tax period 2017-18 and SCN errors.

Deduction u/s 54B not allowed if land is not used for agriculture for last preceding two years: ITAT

February 8, 2025 111 Views 0 comment Print

PCIT observed that no agricultural activity was carried out from the year 2014 till 2018 in both the lands i.e. the agricultural land which was transferred by the assessee and also the land which was purchased by the assessee. 

SCN u/s 73 (1) is mandatory and summary in GST DRC 01 cannot substitute SCN: Gauhati HC

February 8, 2025 243 Views 0 comment Print

In the matter abovementioned HC quashed the impugned order after observing that no proper and prior SCN u/s 73 (1) of AGST was issued along with the Summary of Show Cause Notice in Form GST DRC-01.

AO made error in considering the clerical mistake in consolidated amount of capital: ITAT deleted addition

February 8, 2025 84 Views 0 comment Print

It is submitted on behalf of assessee that he is engaged in the business of transportation and logistics services and such business is being conducted by the assessee in his personal capacity as well as in capacity of the Proprietor of “M/s Tanvi Roadways”.

9 Key Tax Compliance Issues Missed in Union Budget 2025

February 8, 2025 1539 Views 1 comment Print

Union Budget 2025 overlooked critical tax compliance issues, including TDS on partners’ salary, delays in appeals, marginal relief, and revisions under sections 68–69F.

Discrepancy in Agricultural Income: ITAT Directs Probe of Assessee’s Operations

February 8, 2025 171 Views 0 comment Print

ITAT Ahmedabad directs reassessment of a ₹44 lakh discrepancy in agricultural income, questioning the Income Tax Department’s examination of the assessee’s operations.

How Finance Bill 2025 rationalize Tax Loss Time Machine under M&A

February 8, 2025 1176 Views 0 comment Print

The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation year.

Opportunity granted as assessee failed to represent in rejection of registration u/s. 12AB

February 8, 2025 135 Views 0 comment Print

ITAT Bangalore held that matter of rejection of registration under section 12AB of the Income Tax Act is liable to be restored back to CIT(Exemptions) for granting one more opportunity as assessee failed to represent its case properly before the authorities.

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