ITAT Surat ruled on the classification of land as a capital asset under Section 2(14) for AY 2012-13. Decision centered on distance measurement standards and LTCG.
Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered.
ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evidence and arbitrary assumptions.
Supreme Court examines “first offence” definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case. Detailed analysis of the ruling.
The Finance Bill 2025 proposes 11 significant amendments to GST provisions, addressing anomalies and introducing new mechanisms. Effective April 2025, input tax credit (ITC) distribution by input service distributors (ISD) now explicitly includes IGST for reverse charge transactions, correcting prior limitations. A clarification on the definition of “local authority” expands the scope to include funds […]
Delhi HC dismisses Addichem Speciality LLP’s plea for limitation extension under CGST Act, citing statutory constraints and precedents like Singh Enterprises.
Understanding the applicability of Section 87A rebate for capital gains under both the old and new tax regimes post-Budget 2025.
Bombay HC examines Section 87A rebate issues due to ITR software changes post-July 2024, affecting taxpayers’ rights. Interim relief granted; final hearing on Jan 2025.
Delhi HC ruled reassessment under Section 147 is not valid post-closure of Section 143 proceedings if income underassessment results from AO error, not assessee fault.
Supreme Court clears HDFC Bank officials of liability for allowing locker operation, quashes FIR due to lack of fraudulent intent and mens rea.
