The judgment confirms that bona fide purchasers remain eligible for ITC even if the seller fails to deposit tax. The Court held that action must be taken against the defaulting seller, not the genuine buyer.
India’s upcoming tax law changes could redefine resident status for high-income diaspora. Learn how this reform increases global income tax risks and affects treaty benefits for overseas investors.
The Tribunal held that the CIT(A) erred in dismissing the appeal solely for non-payment of advance tax without first seeking clarification from the assessee. Since the assessee acted under a bona fide belief that no advance tax was due, the ITAT restored the matter for fresh consideration. Key takeaway: procedural conditions under Section 249(4)(b) must be applied with fairness and opportunity of hearing.
The Court reinstated penalties and behavioural directions after holding that the federation’s leaders played an active role in anti-competitive practices. It restored the Commission’s order in full.
The Supreme Court applied the dominant-purpose principle and concluded that an established company buying specialized process-automation software cannot claim it was for personal or self-employment use. The transaction clearly supported larger commercial operations.
The High Court disposed of the appeal after noting that the Supreme Court had already directed opening of a common GST portal for filing TRAN-1 and TRAN-2. The earlier Single Judge order was rendered academic.
A detailed consultation has been launched to gather suggestions on improving rules governing foreign university campuses in GIFT IFSC. The objective is to align the framework with global best practices.
The paper outlines measures to bring uniform valuation formats and documentation. It highlights the need for consistency to improve transparency and stakeholder confidence.
ITAT Raipur set aside an ex-parte appellate order where the CIT(A) dismissed the appeal solely for non-prosecution. The matter was restored for fresh adjudication to ensure principles of natural justice are followed.
The circular introduces an ICEGATE 2.0 module for processing MOOWR and MOOSWR applications. It streamlines the Section 65 permission process, offering manuals and support channels for smooth onboarding.
