The Tribunal rejected estimated additions based on alleged circular trading due to lack of seized material or cash trail. The key takeaway is that suspicion and presumptions cannot replace evidence in search assessments.
CBIC circulars confirm GST exemption for qualifying services to Governmental Authorities like DMFTs and limited-value horticulture works. The takeaway is clarity through illustrative application.
The Karnataka High Court held that blocking electronic credit ledger under Rule 86A without a prior hearing and independent reasons violates natural justice and is unsustainable in law.
The court ruled that genuine purchasers cannot lose ITC because a supplier failed to deposit GST. Section 16(2)(c) must be applied only to fraudulent or collusive cases.
Learn how PPIRP under IBC Chapter III-A offers a fast, consensual insolvency solution for MSMEs, emphasizing management continuity and creditor-approved resolution plans.
Courts have ruled that notices or orders issued by a Jurisdictional AO under the faceless regime are void due to lack of authority. Jurisdictional defects are incurable, and taxpayers should raise objections early to secure annulment.
ITAT Hyderabad held that notices under Section 148 issued on 01.04.2021 without following mandatory Section 148A procedures are invalid. The Tribunal quashed reassessment orders, emphasizing that procedural compliance is jurisdictional and essential.
The issue was whether an assessment could be reopened after four years. The Court held that full disclosure by the taxpayer barred reassessment under Section 147.
The court held that reopening beyond the permissible period was invalid where full disclosures were made and no new material emerged. Reassessment based solely on existing records was ruled time-barred.
The deadline for completing mandatory CPE hours for 2025 has been extended by three months. Members get additional time to comply without triggering non-compliance consequences.
