The Tribunal set aside adjustments made under Section 143(1) after finding ambiguity on whether reasonable opportunity was granted. Issues were remitted to the Assessing Officer for fresh examination.
Relying on Supreme Court precedents, the Court held that economic offences involving public money cannot be quashed unless no offence is disclosed. The petition was dismissed for lack of exceptional grounds.
The High Court granted bail in a ₹35 crore GST evasion case, noting the petitioner’s voluntary deposit of ₹1.25 crore and medical grounds, subject to strict conditions.
The Tribunal ruled that leftover offshore materials used at Bombay High had already suffered duty and were not freshly imported, making the customs demand and penalties unsustainable.
The Supreme Court stayed recovery of tax and interest demanded for non-deduction of TDS on foreign LTC reimbursements. The matter has been tagged with a related SLP for further consideration.
ITAT Ahmedabad held that appellate authorities can entertain fresh legal claims even if not made in the return of income. BSNL VRS-2019 compensation was held exempt u/s 10(10B), and rejection by CIT(A) was set aside.
The High Court ruled that LTC involving foreign travel is not exempt under Section 10(5) and TDS must be deducted under Section 192. The appeal was dismissed as no substantial question of law arose.
India taxes Virtual Digital Assets at 30% with strict loss restrictions. The article evaluates whether this regime is economically viable long term.
GAAR allows authorities to deny tax benefits from impermissible avoidance arrangements. The article evaluates whether it protects revenue without harming investor confidence.
GSTN has introduced auto-computation of interest and auto-population of liability breakup in GSTR-3B from January 2026. The update strengthens system-based compliance and limits manual discretion in interest reporting.
