Parliament was told that GST paid on MPLADS projects is part of execution cost and does not reduce the ₹5 crore yearly entitlement. Project sanctions already factor in tax components to stay within limits.
FAQs confirm that only practicing professionals with a full-time CoP can generate UDINs, while others may only view past records. This tightens access control and improves document authenticity.
ITAT ruled that enhancement of income under section 251 without giving the assessee a proper hearing is invalid. The appeals were remanded to CIT(A) for fresh adjudication.
The authority held that PAN must be compulsorily entered for UDIN generation in GST and tax audit cases, expanding validation to five parameters to enhance document authenticity.
UDIN generation now requires disclosure of preceding year audit details for specific audit categories. The update strengthens audit traceability while ensuring confidentiality of member data.
The competition watchdog has initiated further proceedings over widespread flight disruptions, signaling that the matter merits examination under competition law.
ITAT held that Section 50C proviso is retrospective, allowing stamp duty value as on the agreement date where consideration was fixed earlier, significantly reducing LTCG exposure.
The tribunal held that mere absence of substantial activities since inception is not conclusive where charitable objects are genuine. A fresh opportunity must be granted to substantiate activities with evidence.
The tribunal held that reassessment beyond three years is invalid when alleged escaped income is below Rs. 50 lakh. Notices issued contrary to section 149 after the 2021 amendments were quashed for lack of jurisdiction.
The High Court held that the Tribunal misapplied the law on presumptions under Sections 132(4A) and 292C by wrongly shifting the burden to the Revenue. The matter was remanded for fresh adjudication.
