The article explains how AI-driven systems identify complex fraud patterns missed by manual audits. The key takeaway is that automation improves accuracy and speed in tax compliance.
The amendment strengthens regulation of foreign contributions with new oversight mechanisms. The key takeaway is tighter compliance and enhanced government control over foreign-funded assets.
The Appellate Tribunal under SAFEMA held that attachment under PMLA cannot stand without evidence showing flow of tainted funds. The key takeaway is that mere suspicion or indirect linkage is insufficient to sustain attachment.
The Supreme Court of India held that parties cannot enforce rights in execution after abandoning earlier suits on the same issue. The key takeaway is that non-prosecution of prior claims can bar relief even if res judicata does not apply.
The case examined whether extending redemption timelines amounts to reissuance. The Tribunal held that extensions within statutory limits qualify as variation of rights under Section 48, avoiding Section 55(3) compliance.
The Karnataka High Court held that property contributed as capital to a partnership becomes firm property. The individual or family rights cannot be claimed once ownership is transferred to the firm.
The court held that Section 74 cannot be invoked without alleging fraud or suppression. The key takeaway is that absence of jurisdictional facts invalidates GST proceedings.
The tribunal ruled that a claim submitted four days before the CoC meeting was ineligible for consideration. It confirmed that the RP acted correctly in rejecting claims filed beyond the permissible window.
The AAR held that Pooja Oil, though technically edible, is marketed as inedible and thus classified under heading 1518. Consequently, it attracts 5% GST under the revised notification.
The Authority held that nominal deductions from employee salaries for canteen services constitute consideration under GST law. As a result, such recoveries are taxable as supply.
