ITAT Hyderabad held that alleged discrepancy i.e, the suppression of the purchases/sales/closing stock based on distorted figures by AO resulting to an exorbitant addition is unsustainable in law. Accordingly, appeal of assessee allowed.
CAAR held that imported Nylon, Polyester, and Taffeta rolls, ranging from 10 mm to 305 mm, are classifiable as textile labels under CTH 5807, following HSN explanatory notes and judicial precedents.
Gujarat AAR ruled that trading of PM permits under the Emission Trading Scheme constitutes supply of goods under GST, classified under HSN 4907, with a tax rate of 12%.
Gujarat AAR rules that dry leasing of aircraft/helicopters without operator, a “transfer of right to use goods,” falls under HSN 9973, attracting 5% IGST for the SEZ-based lessor.
Gifts to a spouse are tax-exempt for the recipient, but Section 64(1)(iv) clubs income from the gifted asset with the transferor’s income. Learn about clubbing rules, second-generation income, and strategies like tax-free investments, joint accounts, and gifts to major children to mitigate tax impact.
Post-1945 Western economic dominance, fueled by outsourcing and cheap migrant labor, led to debt and joblessness. Efforts to halt migration may worsen financial woes.
The Companies Amendment Rules, 2025, expand fast-track merger eligibility under Section 233 to unlisted companies (with a ₹200 cr debt cap) and certain holding-subsidiary mergers.
The Rajasthan High Court ordered the CBDT to extend the Tax Audit Report (TAR) due date to October 31, 2025, citing widespread technical glitches on the e-filing portal and a substantial filing shortfall.
CBIC clarifies that storing and supplying goods from a third-party warehouse in another state requires a separate GST registration as the location is deemed a “place of business.”
Delhi HC upheld conviction of a man for raping his 8-year-old neighbour, stressing that courts have a solemn duty to reaffirm society’s zero-tolerance for sexual crimes against children.
