The issue is whether agricultural income affects eligibility for rebate under Section 87A. The article explains that legally, total income excludes such income, supporting rebate claims. However, ITR utilities may deny the benefit, creating a compliance risk.
CBIC removed the value cap on courier exports to boost e-commerce and trade flexibility. The reform allows seamless exports and reduces reliance on traditional cargo modes.
The issue is whether GST refunds are restricted by statutory timelines. The key takeaway is that unconstitutional tax collections must be refunded regardless of limitation.
This explains how GST scrutiny notices arise and why they are often mishandled. The key takeaway is that timely, accurate replies can prevent escalation into penalties.
The Tribunal held that Section 50C may not apply if properties are held as stock-in-trade. It remanded the case to verify whether transactions were part of real estate business.
The court held that reassessment notices for A.Y. 2015–16 issued after 1 April 2021 are invalid based on the Revenue’s concession before the Supreme Court. All consequential proceedings were set aside.
The tribunal held that mere suspicion or possibility of fraud without supporting evidence cannot justify action under Section 66 of the IBC. The ruling underscores the need for concrete proof in alleging fraudulent conduct.
The RBI clarifies which entities must file FLA returns and outlines the complete online filing process. The key takeaway is mandatory compliance for entities with foreign assets or liabilities.
The Tribunal held that the final assessment order passed after the prescribed time limit is invalid. It ruled that limitation begins from the date DRP directions are uploaded on the ITBA portal.
The government notified a statutory commission for tax benefits under section 10(46A). The exemption applies from AY 2026-27 subject to continued eligibility conditions.
