Builders under the 1%/5% GST regime must still meet the 80% registered procurement rule. Non-compliance attracts cash RCM liability without ITC benefit.
The High Court held that a reassessment notice issued without a manual or digital signature violates Section 282A of the Income-tax Act. Such an unsigned notice is invalid in law, rendering all consequential proceedings unsustainable.
The Tribunal found that the AO had examined land records, crop sale documents, and other evidence before making the assessment. Since due inquiry was conducted, the assessment order was neither erroneous nor prejudicial to revenue.
The 2026 regulations replace the old FEMA framework and tighten oversight of guarantees. The key takeaway is clearer eligibility, reporting, and risk control.
This article breaks down Section 12 requirements on maintaining and verifying a registered office. The key takeaway is that non-compliance can trigger penalties and strike-off action.
The assessment based on a second notice issued in July 2022 was quashed as time-barred. Once limitation had expired, subsequent notices could not revive reassessment jurisdiction.
The ITAT ruled that customer discounts are deductible when quantified and finalised in the year of claim, even if labelled as prior-period items. The decision reinforces that timing of crystallisation outweighs book classification.
The Tribunal examined whether purchases could be treated as bogus solely on investigation inputs. It held that without independent verification or rebuttal of documentary evidence, the addition could not survive.
The tribunal held that advances received from customers for future services cannot be treated as unexplained cash credits. Once the assessee proves identity, nature, and business purpose, Section 68 addition fails.
The tribunal held that prior approval under Section 153D was granted mechanically without application of mind. Such invalid sanction vitiated the entire search assessment, leading to quashing of the order.
