Court holds that a single SCN covering several years is valid under Section 74 of the CGST Act, as fraudulent ITC claims often span multiple periods.
Summary of key Income Tax benefits for Individual and HUF taxpayers for AY 2026-27, covering basic exemption limits, Section 87A rebate, and major deductions under Section 80C.
Detailed comparison of dividend, interest, royalty, and FTS withholding tax rates between India’s Income-tax Act and over 60 Double Taxation Avoidance Agreements (DTAAs).
This guide explains the concept, calculation formula, and notified values of CII from 2001-02 to 2025-26, as per CBDT. A must-read for taxpayers and investors calculating capital gains.
Summary of Income Tax Sections 111A, 112A, 115A-115AD, detailing flat tax rates on short and long-term capital gains, and specific income taxation for non-residents.
The Allahabad High Court set aside multiple GST show cause notices and assessment orders issued against a firm whose proprietor was already deceased, ruling that proceedings for tax determination cannot be initiated against a dead person but must be directed towards the legal representatives.
ITAT Upholds Taxpayer Rights, Limits Section 148 Reassessments on Net Income: ITAT confirmed that income tax reassessments must be based on net taxable income, not gross sale proceeds. Notices issued beyond the three-year window without exceeding ₹50 lakh threshold are invalid.
The Mumbai ITAT restricted the disallowance for purchases from hawala parties to 25% of the bogus purchase amount, affirming the material was genuinely received and sold, despite fictitious invoices. The ruling relies on the Gujarat High Court’s precedent in Vijay Proteins.
Madhya Pradesh High Court rules that share of profit from taxable AOPs cannot be taxed again in the member’s hands, upholding ITAT’s order in Principal Commissioner vs. Ramesh Chandra Rai.
ITAT confirmed that a company can validly exercise the concessional tax regime under Section 115BAA through a revised return filed within the due date. Regular business losses and unabsorbed depreciation remain eligible for set-off.
