A legal summary of the Shanti Bhushan vs CIT case, where the court decided if heart surgery costs could be a tax-deductible business expense.
Explore recent ITAT judgments on reassessment validity, 80G exemptions, DTAA interpretation for online education (FTS/Royalty), transfer pricing methodologies, and cash deposit explanations under Section 68.
The Goods and Services Tax Network (GSTN) announced significant updates in May 2025, focusing on compliance and process improvements. Phase-III of mandatory HSN code reporting in GSTR-1/1A requires taxpayers with an annual turnover of up to ₹5 crore to report 4-digit HSN codes and those exceeding ₹5 crore to report 6-digit codes. Manual HSN entry […]
Supreme Court slams Kerala for misusing preventive detention to jail accused already on bail. Rules it’s not a substitute for criminal process, quashing detention order.
ITAT Delhi held that registered deed of new property not mandatory for claiming exemption under section 54F of the Income Tax Act. Investment in property and possession thereof sufficient for claiming exemption.
CESTAT Delhi held that re-assessment will come to an end once the goods are exported in case of Shipping Bills and once the officer gives an order clearing the goods for home consumption in case of imports.
New GST rules, effective Oct 2023, limit return filing to three years from the due date. This applies to GSTR-1, 3B, 4, and other key forms. Enforced on the GST portal from July 2025 tax period. File outstanding returns promptly.
Gujarat High Court held that appeal filed within extended time on 15.06.2016 as per Circular No. 20/2016 dated 26.05.2016 cannot be dismissed on the ground of delay. Thus, order set aside and matter remanded to CIT(A).
GST Portal advisory states GSTR-3B auto-populated liability will be non-editable from July 2025 tax period. Amendments must be made via GSTR-1A before filing GSTR-3B.
SEBI circular dated June 6, 2025, extends the additional liquidation period for migrating Venture Capital Funds (VCFs) to July 19, 2026. The migration application deadline remains July 19, 2025.
