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Archive: 21 July 2025

Posts in 21 July 2025

Practical Solutions for Real Estate Insolvency Challenges

July 21, 2025 468 Views 0 comment Print

Key solutions for resolution professionals to manage real estate insolvency under IBC, 2016. Address legal, financial, and emotional challenges effectively.

Proposed Income Tax Bill 2025: Key Changes

July 21, 2025 4365 Views 2 comments Print

Proposed Income Tax Bill 2025 aims to simplify tax rules by restoring 80M deduction, allowing NIL TDS certificates, and eliminating late-filing refund bar.

HP HC Directs Rs 1.66 Cr SGST Refund to Sylvan Greens with 6% Interest

July 21, 2025 273 Views 0 comment Print

Himachal Pradesh High Court orders State to reimburse Sylvan Greens Pvt. Ltd. ₹1.66 crore SGST incentive by July 31, 2025, with 6% interest on delays.

Can ITC Be Used Across Unrelated Supplies? A Key GST Ruling

July 21, 2025 1368 Views 0 comment Print

Gujarat AAAR rules ITC from one business can offset GST on unrelated output supplies under a single registration, emphasizing fungibility and simplified compliance.

Provision related to GST and TDS on E-commerce Transaction

July 21, 2025 3768 Views 0 comment Print

Understand GST definitions for e-commerce operators, suppliers, and recipients. Learn about Section 9(5) levy, TCS under Section 52, and TDS implications for ECOs and their transactions.

PMLA Cognizance Set Aside as No Hearing Given u/s 223(1) BNSS: Chhattisgarh HC

July 21, 2025 591 Views 0 comment Print

Chhattisgarh High Court sets aside PMLA cognizance order against Arun Pati Tripathi, citing denial of hearing opportunity before cognizance.

ITAT Allows ₹64.72 Cr Abandoned Project Loss Claim as Revenue Expense

July 21, 2025 558 Views 0 comment Print

ITAT Delhi allows real estate developer Sourya Towers to claim ₹64.72 Cr loss on an abandoned Amritsar project as a revenue deduction, overturning a disallowance.

Penalty u/s 112(a) and 112(b) for smuggling of 3kg gold concealed in shoes via Airport Staff reduced from Rs. 30L to Rs. 10L

July 21, 2025 345 Views 0 comment Print

Assessee was implicated in a gold smuggling case after Avijit Sarkar was caught at Kolkata Airport by Customs officials. Acting on intelligence about ground staff involvement, officers recovered four gold bars weighing 3,000 grams and worth Rs. 82.5 lakh from Sarkar’s shoes.

ITAT Deletes Addition for Mutual Fund Investment Made Under Wrong PAN

July 21, 2025 414 Views 0 comment Print

ITAT Delhi deletes Rs. 14 lakh tax addition for Aquakiosk India, citing invalid reassessment notice and proven investment source from mutual fund switch-outs.

Writ not entertained as alternative remedy available under SARFAESI Act

July 21, 2025 429 Views 0 comment Print

Patna High Court held that High Courts should not entertain application under Article 226 of the Constitution, if there is an effective remedy available to the aggrieved persons under the provisions of the SARFAESI Act. Accordingly, writ held as not maintainable.

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