The article explains that GST penalties generally require existence of tax liability, contravention, or deliberate intent to evade tax. Mere technical or clerical lapses without mens rea cannot automatically trigger penal action under the GST Act.
ITAT Chennai held that the assessee was denied reasonable opportunity when the CIT(A) dismissed the appeal in limine without permitting correction of technical defects in the condonation petition. The matter was restored for fresh adjudication.
The Tribunal ruled that only 8% of disputed purchases could be added where the assessee had disclosed corresponding sales and made payments through banking channels. Entire purchase disallowance was held to distort true business income.
The Gauhati High Court directed authorities to consider restoration of GST registration after the petitioner filed pending returns and cleared tax dues. The Court relied on earlier similar rulings involving cancellation for non-filing of returns.
The Income-tax Act, 2025 has officially replaced the Income-tax Act, 1961 from 1st April 2026. The new law focuses on simplified language, reduced litigation, and easier tax compliance without introducing new taxes.
The update highlights the Supreme Court’s split verdict on Section 17A of the PC Act concerning prior approval for investigation of public servants. The issue has now been referred to a larger Bench for final adjudication.
The Tribunal ruled that capital gains on Transferable Development Rights must be computed after deducting the purchase cost of TDR from the sale consideration. The case was remanded because the assessee failed to submit documents before the AO earlier.
The Court directed release of the refund amount deposited before it after finding that no interim order from the Appellate Tribunal restrained refund disbursal. The release was made subject to future appellate orders.
The article explains how critical illness insurance provides a fixed payout for listed illnesses while standard health plans mainly cover eligible treatment expenses. It highlights how combining both covers may help families manage recovery costs, income gaps, and household expenses.
The article explains how constitutional safeguards prevent illegal, discriminatory, and oppressive taxation by authorities. It highlights the role of Articles 14, 19(1)(g), and 265 in protecting businesses against misuse of taxing powers.
