The issue was whether an excessive delay in filing appeals could be condoned. The Tribunal allowed condonation but imposed costs, balancing justice with procedural discipline.
Courts held that audits exceeding prescribed timelines under GST law can invalidate subsequent proceedings. The ruling emphasizes strict adherence to statutory deadlines for audit completion.
The case highlights how expanded benami provisions expose informal family arrangements to confiscation and penalties. Courts stress strict compliance and genuine ownership proof to avoid adverse action.
Income Tax India, through its X account post dated 30.03.2026, has clarified the applicability of tax deduction at source (TDS) on interest under Section 194A of the Income-tax Act, 1961, and its corresponding provisions under the Income-tax Act, 2025. It reiterates that banking companies are not required to deduct TDS where interest does not exceed […]
From April 2026, 8 cities qualify for 50% HRA exemption. New rules impact calculations, compliance, and disclosures for salaried taxpayers.
Form 60 is used by international groups with multiple entities in India to designate a single entity to file the Country-by-Country Report.
Form 59 is used by parent or alternate reporting entities to furnish the Country-by-Country Report of international groups.
Form 58 informs the Income Tax Department about the parent or alternate reporting entity responsible for filing the Country-by-Country Report.
Form 57 is filed by a designated constituent entity of an international group where multiple entities are required to file the Master File.
Form 45 allows resident taxpayers to report settlement of foreign tax disputes and claim foreign tax credit not earlier claimed in Form 44 under the Income-tax framework.
