The ITAT Rajkot allowed a taxpayer’s appeal, setting aside the CIT(A)’s order which confirmed over Rs. 1.17 crore in tax additions. The Tribunal ruled that the lower authorities violated natural justice by failing to provide a reasonable opportunity to explain disputed creditors and expense disallowances.
The Delhi High Court dismissed the Revenue’s appeal against Casio India for AY 2017-18, upholding the deletion of a Transfer Pricing adjustment for AMP expenses. The court ruled that the issue was covered by prior judgments, which rejected the Bright Line Test methodology.
Gujarat AAAR rules that companies cannot claim GST Input Tax Credit (ITC) on share buyback expenses, as securities are neither goods nor services under GST law.
Punjab and Haryana High Court rules the time spent on a GST rectification application under Section 161 must be excluded from the appeal limitation period under Section 107, setting aside an appeal’s dismissal based on delay.
SEBI’s new 2025 regulations require listed companies to issue securities in demat form for certain corporate actions. NPO disclosure deadlines and Social Stock Exchange registration rules are also updated.
SEBIs 2025 amendment allows Debenture Trustees to undertake new activities via separate units, mandates ring-fencing net worth, and formalizes rights for inspection and fund use.
Join a 2-day live workshop with CA Sachin Jain to understand GSTR-9 & 9C deeply. Learn clause-wise analysis, reconciliation techniques, and practical data handling to ensure accurate and confident annual GST filings.
Karnataka High Court rules that duty on capital goods imported by an EOU is not leviable if the goods are installed and used for manufacturing, even if the export obligation is unfulfilled. Penalties under Section 112(a) are also invalidated.
TDS collected by government offices is credited to the Central Government via book entries using Form 24G and AIN/TAN mapping, ensuring PAN holders receive timely tax credit without challans.
One of major highlights of GST year is GSTR-9 (the Annual Return) and GSTR-9C (Reconciliation Statement), which we are discussing today. GST portal went live on October 14, and as October 2025 approaches, filing for FY 2024–2025 is quickly approaching.
