Delhi High Court held that notice issued u/s. 148 and assessment order thereon is liable to be set aside as sanction of issuance of notice not granted by authority specified under section 151 of the Income Tax Act. Accordingly, appeal of asset allowed and demand set aside.
Explore the impact of mandatory Input Service Distributor (ISD) compliance under GST, effective April 1, 2025. Understand its complexities, from ITC distribution and RCM handling to cross-charge distinctions, and learn how businesses can navigate these changes.
Maharashtra AAR ruled that the Section 16(4) time limit applies to Input Tax Credit claimed via a Bill of Entry for imported goods, affirming deadline for all ITC claims.
ITAT Delhi held that loss incurred on account of trading in gold derivatives being hedging transaction and was excluded from the definition of speculative transaction in terms of section 43(5)(a) of the Income Tax Act. Accordingly, appeal of revenue dismissed.
This summary examines whether DRT/DRAT orders for pre-deposit for a stay, without clear legal backing, conflict with borrowers’ fundamental rights under Article 14 of Indian Constitution.
The present petition has been filed by the Petitioner – DMI Alternatives Private Limited under Articles 226 and 227 of the Constitution of India, inter alia, assailing the Show Cause Notice dated 27thJuly, 2024 and consequential order dated 30th January, 2025.
The joy, anticipation, and planning that accompany pregnancy are unmatched. But amid all the excitement, it’s easy to overlook one important aspect: the financial preparation for medical expenses.
ITAT Bangalore held that provisions of section 45(4) of the Income Tax Act are application only when there is transfer of any asset to the partners account from the firm. Accordingly, section 45(4) cannot be invoked in case of incremental capital brought in by the new partner.
Allahabad High Court sets aside GST registration cancellation due to lack of physical notice and personal hearing, upholding natural justice principles for taxpayers.
Allahabad High Court rules GST MOV-09 must be issued after penalty payment, upholding the right to appeal. This clarifies departmental obligations for detained goods.
