The ITAT Mumbai held that cash deposits during the demonetization period could not be treated as unexplained where the assessee’s books of account, stock records, and VAT returns supported the transactions. As no defects were found in the books, the addition under Sections 68/69A was deleted.
The Telangana High Court held that a GST registration cancellation notice was valid because the accompanying documents clearly conveyed the allegations and enabled the taxpayer to respond effectively.
The Telangana High Court held that although relief under the Vivad Se Vishwas Scheme could not be revived after the scheme expired, the taxpayer should not be left without a remedy. The Court directed restoration of the withdrawn appeals for decision on merits.
The Telangana High Court declined to entertain the writ petition because the GST Appellate Tribunal (GSTAT) is now functional and provides an effective statutory appellate remedy. The Court permitted the petitioner to file an appeal before the GSTAT within the prescribed window period after making the required statutory deposit.
ITAT Bangalore held that TDS credit cannot be denied merely because it was omitted in the original income tax return. The Tribunal directed the Assessing Officer to verify Form 26AS and allow the credit if the corresponding income has been offered to tax.
The article examines alleged GST enforcement practices in Karnataka where ITC is denied based on NGTP reports and retrospective supplier cancellations. It argues that bona fide buyers with supporting documents should not face demands without independent verification and proper hearing.
GSTAT held that a mere mismatch between GSTR-1 and GSTR-3B does not automatically establish tax evasion or justify proceedings under Section 74. The Tribunal emphasized that the department must first verify records, undertake reconciliation, and prove fraud or suppression.
Merchant Trade Transactions allow Indian businesses to trade goods between two foreign countries without importing them into India. The article explains the RBI rules, FEMA compliance, GST treatment, and the October 2025 regulatory changes.
Convertible notes and iSAFE both defer valuation but operate under different legal frameworks in India. The article explains their features, regulatory differences, and how startups can choose the most suitable fundraising instrument.
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