Bombay High Court rules rectification under Section 154 is valid even with pending appeal, if the issue hasn’t been considered and decided by CIT(A).
CESTAT Mumbai upholds security deposit forfeiture for customs broker failing to verify importer credentials under CBLR, sets aside licence revocation.
Mutual funds have become a popular route to achieve crorepati status, but as the economies evolve and standard of living rises, the question still lingers: is it possible to achieve ₹1 crore through mutual fund investments?
Mumbai ITAT sends back case of alleged bogus purchases by Jagdish Udhavdas Bajaj, citing need to verify claim of goods return to supplier.
Kerala High Court sets aside tax/penalty for using wrong GST credit head, citing credit pool concept & precedent. Dept to issue fresh orders.
Andhra Pradesh High Court held that manufacturer of soft drinks are eligible for Input Tax Credit (ITC) on purchase of refrigerators, coolers and deep freezers in terms of rule 20(2) of the AP VAT Rules, 2005. Accordingly, tax revision case partly allowed.
Supreme Court dismisses tax department appeal, affirming Andhra Pradesh High Court ruling classifying flavoured milk under lower 5% GST rate.
Madras High Court holds Section 65B/63 of Evidence Act not applicable, allowing challenge to genuineness.
Comprehensive Audit Manual for SMEs FY 2024-25 covers CARO 2020 changes, Schedule III revisions, and accounting standards with editable formats for compliance.
ITAT Chandigarh held that deduction u/s 54B of the Income Tax Act, 1961 is not admissible if the new capital asset i.e. agriculture land is purchased in the name of wife of the assessee. Accordingly, appeal of assessee partly allowed.
