The Supreme Court affirmed that a promissory note binds the borrower to the full amount acknowledged, even without bank records for cash portions of the loan.
Andhra Pradesh High Court held that petition cannot be entertained since the inordinate delay, in approaching the court, has not been satisfactorily explained. Accordingly, writ in GST matter dismissed.
The Gujarat High Court ruled that tax authorities cannot use Section 74 for extended recovery without proving fraud, if Section 73 time limits have passed.
The Delhi High Court ruled that a GST refund approved by an appellate authority cannot be withheld solely based on the Commissioner’s opinion without an actual pending appeal.
ITAT Chennai held that addition under section 69A of the Income Tax Act towards cash deposit during demonetization not justified since assessee has sufficiently explained that the said deposit is from earlier withdrawal. Accordingly, appeal allowed.
The Supreme Court affirmed that GST authorities cannot determine the eligibility of Input Tax Credit during refund proceedings, upholding a Delhi High Court ruling.
The Supreme Court affirmed that services provided by Indian entities to foreign universities for student admissions are considered “export of services” and are eligible for an IGST refund.
ICAI invites candidates to submit observations on the CA Final, Intermediate, and Foundation exam question papers. The deadline for feedback is September 27, 2025.
Discover how internal auditors use financial management concepts like inventory, cash, and capital management to assess efficiency and mitigate financial risks.
Examine recent accounting frauds in India, their root causes, and the corrective actions taken by professional bodies, government, and organizations. Learn from PNB, IL&FS, and other cases.
