Tribunal held that unsecured loans cannot be treated as unexplained where confirmations, bank statements, and tax returns establish identity, creditworthiness and genuineness through banking channels.
This article clarifies when e-invoicing is mandatory for export supplies under GST. It explains that only taxable exports require e-invoices, regardless of whether an LUT is filed. The key takeaway is that LUT affects tax payment, not e-invoice applicability.
The Court held that misclassification of ITC between CGST/SGST and IGST does not result in excess claim if the credit is otherwise admissible. Once the error is rectified through annual returns, no demand can survive.
It was ruled that the Assessing Officer’s own finding of circular trading negates the application of bogus purchase jurisprudence. In the absence of evidence of sham transactions, estimated profit additions cannot survive.
A high-level committee has been formed to review and modernise the pension investment framework, focusing on diversification, risk management, and long-term retirement returns.
The Court held that GST exemption under the 2025 notification applies only to individual health insurance policies. Group policies obtained through collective bargaining were ruled ineligible for exemption.
The webinar explains how the first reply and pleadings determine the direction of GSTAT appeals. It highlights drafting as a strategic tool that can influence outcomes through all appellate stages.
The ruling explains the procedural outcome when a section 263 order is set aside. Original assessment appeals are restored, while appeals from consequential orders are dismissed as infructuous.
The ruling clarifies that TDS must be deducted at the time of credit, even if amounts are booked as provisions. Merely claiming that no payment was made does not excuse non-deduction.
The Tribunal held that where purchases are not disputed and books are not rejected, the entire sale consideration cannot be added as unexplained income. Since the assessee had already offered profits to tax, the addition was deleted.
