A recent High Court ruling has annulled a GST order, citing a breach of natural justice. The tax authorities failed to provide a personal hearing before issuing the impugned order, despite the taxpayer’s requests for time to file a reply.
Calcutta High Court dismisses Income Tax Department’s appeal in a Rs. 71 lakh penny stock loss case, affirming no evidence of assessee’s involvement in price rigging.
CESTAT Delhi cancels a ₹2 crore penalty on Rajesh Khosla, former MMTC-Pamp MD, ruling that mere non-disclosure without deliberate intent to evade customs duty is insufficient for Section 112(a)(ii) penalty.
Madras High Court permits Star Brand Enterprises to contest a ₹69.62 lakh GST demand by filing a detailed reply, conditional on 25% pre-deposit, after their consultant filed a cryptic response.
Understand common eligibility criteria for buying health insurance in India, including age limits, pre-existing conditions, medical tests, and common policy exclusions.
ITAT confirms that donations under Section 80G and business expenses under Section 37(1) are distinct. It upheld GSFC’s eligibility for Section 80G deduction, emphasizing proper classification in accounts.
Bangalore ITAT rules that mandatory CSR spending, if qualifying as a donation under Section 80G, may still be eligible for tax deduction despite disallowance as business expense.
CESTAT Delhi held that when the Duty Free Scrips are forged, the importer cannot be permitted to take plea that they were not involved in fraud or forgery. Accordingly, appeal dismissed and duty demand confirmed.
CBDT releases ITR 2 (AY 2025-26) for individuals/HUFs without business income, detailing changes in capital gains taxation (pre/post-July 23, 2024), buyback loss allowance, and asset/liability disclosure thresholds.
1. Introduction In an increasingly globalized economy, cross-border transactions have become commonplace. To ensure tax compliance and prevent tax evasion, the Indian Income Tax Department mandates the filing of Form 15CA and Form 15CB for certain foreign remittances. These forms serve as a mechanism for the government to track payments made to non-residents and ensure that appropriate taxes are […]
