Clarifies the fast-track GST registration process under Rule 14A. The key takeaway is approval within three working days for eligible, low-risk applicants—not a guaranteed same-day right.
The issue was whether the entire amount of alleged bogus purchases could be disallowed under Section 69C. ITAT Mumbai held that in the absence of corroborative evidence, only the profit element can be taxed, restricting the addition to 6%.
At present, India’s income tax system is entirely based on individual taxation, wherein each taxpayer is entitled to a separate basic exemption limit and individual deductions. Even after marriage, there is no fundamental change in this structure. Husband and wife are treated as separate taxpayers, required to file their income tax returns independently and pay […]
Explains how a credit note rejection led to excess GSTR-3B tax without IMS visibility. The key takeaway is that system adjustments can occur silently, increasing supplier risk.
The case examined taxability of stamp duty differential in the hands of a housewife joint owner. The Tribunal ruled that absence of financial contribution bars addition under Section 56(2)(vii)(b).
The Tribunal held that penalty proceedings fail where notices do not clearly state whether the charge is concealment or inaccurate particulars. Vague notices violate statutory requirements, leading to deletion of penalty.
Explains whether a private company can link board tenure to employment through its Articles. The key takeaway is that co-terminus directorships are valid if clearly provided in the AoA.
Explains how companies qualify for a Main Board IPO, choose the right regulatory route, and comply with SEBI norms. Highlights key takeaways on pricing, subscription rules, and post-listing obligations.
The ITAT held that reassessment notices issued by the Jurisdictional AO after 29.03.2022 are void. Under the faceless reassessment scheme, only the Faceless AO has jurisdiction to act.
The issue concerned whether failure to deduct TDS on foreign commission warranted disallowance. The Tribunal held that Section 195 is triggered only when the payment is chargeable to tax in India, reaffirming settled Supreme Court principles.
