Drawing comparisons with China’s housing sector collapse, the article argues that India is witnessing similar trends of aggressive construction amid weakening market fundamentals. It cautions against ignoring lessons from underutilized urban projects abroad.
Under the earlier law, even a one-day delay in depositing employee contributions resulted in permanent tax disallowance. The new regime provides relief where payments are completed before the due date for filing returns.
The Gujarat AAR ruled that pizzas, pasta, salads, shakes, and similar items prepared or blended at bakery outlets upon customer order constitute restaurant services under GST. The ruling applies even where the food is sold through takeaway counters.
GSTAT noted inconsistencies in the DGAP’s findings regarding whether the Respondent had actually increased base prices after GST rate reduction. The Tribunal held that such contradictions required comprehensive reinvestigation.
The Tribunal noted that the Applicant repeatedly failed to appear or file objections despite multiple opportunities being granted. In absence of any rebuttal, GSTAT proceeded on the basis of the DGAP report and available records.
ICSI recommended restoring public access to basic company master data without mandatory login requirements. The representation stated that quick verification access is essential for professionals, stakeholders, and third parties.
ITAT Raipur held that penalty proceedings initiated after unreasonable delay violated the statutory limitation prescribed under Section 275(1)(c). The Tribunal ruled that delayed penalty orders cannot survive once limitation expires.
Bombay High Court held that revisionary powers under Section 263 cannot be invoked where the Assessing Officer had already conducted enquiries and accepted a plausible view. Mere dissatisfaction with the depth of enquiry does not render the assessment order erroneous.
ITAT Kolkata held that entire bogus purchases must be added under Section 69C where the supplier was proved to be a paper entity and no evidence of actual delivery of goods existed. The ruling reiterates that bank payments and invoices alone cannot establish genuineness.
ITAT Kolkata held that presumptive taxation under Section 44AD was wrongly invoked where the assessee’s turnover exceeded ₹2 crore. The Tribunal clarified that statutory turnover limits must be strictly satisfied before applying presumptive profit provisions.
