The Tribunal ruled that a trust reporting a loss cannot be taxed on gross receipts. The addition by the AO was deleted, emphasizing that only net income is relevant for taxation under section 11.
ITC on Construction of Commercial Buildings for Leasing: Landmark Supreme Court Ruling Overturned by Retrospective Amendment to Section 17(5)(d) The Safari Retreats Pvt Ltd V/s. Chief Commissioner of CGST case is a landmark in clarifying the availability of Input Tax Credit (ITC) for leasing-based business models under GST. The dispute arose when ITC on GST […]
Explores how arbitration is often perceived as confidential, but legal and public interest obligations frequently limit this privacy. The takeaway: confidentiality is relative, not absolute.
The ITAT held that professional lapse by a Chartered Accountant is a sufficient cause, condoning an 85-day delay and restoring the appeal.
Cost audit applies to pharma companies crossing prescribed turnover limits, ensuring transparency and compliance with price controls under the DPCO.
The Tribunal ruled that appellate authorities must decide appeals on merits, even if the taxpayer does not appear, reinforcing the mandate of Section 250(6).
The ITAT ruled that appeal limitation must be counted from the date the taxpayer gains knowledge of the order, setting aside dismissal wrongly made on delay grounds.
The ITAT held that a reassessment notice dispatched after the new law took effect must follow Section 148A, and failure to do so invalidates the entire proceedings.
The ITAT held that professional negligence and continuous medical problems constitute sufficient cause, condoning a 261-day delay and reviving the appeal.
Highlights the most common GST triggers for online sellers, including GSTR mismatches, ITC issues, and credit note errors, helping businesses prevent notices and penalties.
