Pune ITAT deletes disallowance of cash-based remuneration to partners and salaries to employees, finding no legal bar or evidence of inflated expenses.
ITAT Delhi rules Section 68 inapplicable as purchases were genuine and creditors identified. ₹3.36 Cr addition deleted in Shiv Hari Singla vs ITO case.
The 56th GST Council meeting reduces tax rates on essentials, insurance, autos, medicines, and more while introducing a simplified two-rate GST structure.
A summary of the ITAT Delhi ruling on cross-appeals involving International Tractor Ltd. covering key tax issues on depreciation, R&D, and other business deductions.
The Delhi High Court upheld the quashing of a penalty imposed under Section 271(1)(c) of the Income Tax Act. The court ruled that the penalty notice was invalid because it failed to specify whether the penalty was for ‘concealment of income’ or ‘furnishing inaccurate particulars’.
Madras High Court sets aside GST order, directs tax department to issue circular advising assessees to engage qualified consultants; bank account de-frozen.
Chhattisgarh High Court rules cash-in-hand from a preceding year’s balance sheet cannot be taxed as unexplained money under Section 69A in a subsequent year.
A summary of the ITAT Ahmedabad ruling in Vimal Sureshbhai Mishra vs CPU, addressing the incorrect computation of interest under Section 234B.
The ITAT Ahmedabad remands a tax case, directing the AO to verify the genuineness of purchases by examining GST records and supplier bank accounts.
The Supreme Court of India addresses judicial delays in the Ravindra Pratap Shahi case, mandating new guidelines for High Courts to ensure timely pronouncement of judgments.
