ITAT Delhi ruled that additions under section 153A cannot be made without incriminating material specific to the assessee. All unbooked commission additions for AYs 2012-13 to 2016-17 were deleted.
The Allahabad High Court ruled that a GST penalty under section 129(3) cannot be imposed for non-filing of Part-B of an e-way bill caused by a technical glitch without intent to evade tax.
RBI revises account details for receiving compounding application fees and sums under FEMA, simplifying payment through NEFT and RTGS.
The Court held that a challenge to a show cause notice was premature, as no final decision had been taken. It ruled that authorities may issue a fresh notice even after a prior blacklisting order is quashed.
The AAR held that invoice value applies for supplies to related persons eligible for full ITC, while unrelated supplies follow transaction value. Transportation services to unregistered persons were ruled exempt from GST.
Hostel properties used as residences by inmates could not be treated as commercial properties. The levy of property tax, water tax, water charges and electricity charges under commercial tariff was unsustainable.
Karnataka High Court held that issuance of second provisional attachment order under section 83(1) of the Goods and Services Tax Act passed on the next day after expiry of maximum statutory period of one year is illegal, arbitrary and without jurisdiction. Accordingly, provisional attachment order quashed.
Explains how the new rules enable online deposits, wider bank access, and digital account closure, making CGAS vastly more convenient for taxpayers.
Explains what working capital is, why it matters, and how efficient planning improves cash flow, profitability, and financial stability.
Highlights how agriculture, livestock, forestry, and oil & gas inventories need unique recognition and measurement approaches. Key takeaway: Ind AS 2 and 41 ensure accurate reporting in volatile, high-risk sectors.
