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Non filing of NIL ITC-02 and duration of GST audit: HC directs reconsideration 

April 10, 2024 480 Views 0 comment Print

In the case of GG Organics Care Pvt. Ltd. Vs State Tax Officer, Madras High Court sets aside an order dated 22.12.2023, directing reconsideration due to issues regarding the duration of GST audit and non-filing of Form ITC-02. The petitioner is instructed to remit 10% of the disputed tax demand as agreed.

Transactions in Regular Books Not Incriminating Material; ITAT Deletes Addition

April 10, 2024 582 Views 0 comment Print

ITAT Delhi states transactions in regular books cannot be deemed incriminating material, dismissing revenue’s appeal against CIT(A) order.

Duty scrip treated as Turnover without opportunity to petitioner: HC directs fresh order

April 10, 2024 372 Views 0 comment Print

In a landmark decision, Madras High Court overturns a GST order against Larsen & Toubro, citing discrepancies between GSTR-2A and GSTR-3B returns. Full analysis here.

Assessee’s Accountant Left Job: ITAT Remanded Case to Assessing Officer

April 10, 2024 4062 Views 0 comment Print

ITAT Ahmedabad remands case of Ramakushna Kiritbhai Tripathi Vs ITO due to accountant’s departure and lack of proper representation, emphasizing procedural fairness.

Delhi HC Directs Disposal of GST Registration Revocation Application

April 10, 2024 285 Views 0 comment Print

Delhi High Court directs disposal of a GST registration revocation application in case of MD Mustafa Raza Vs Superintendent emphasizing procedural fairness.

Interest on Loan for Agricultural Land Not Allowable under Section 36(iii)

April 10, 2024 831 Views 0 comment Print

Read the full text of the judgment/order by the Kerala High Court in the case of Mini Muthoottu Credit India Vs CIT. Learn about the court’s ruling on the deductibility of interest on loans for purchasing agricultural land.

Neena Uppal Vs UoI: Bombay HC Orders Provisional Release of Imported Goods

April 10, 2024 318 Views 0 comment Print

In the Neena Uppal Vs Union of India case, Bombay High Court rules against Customs Department’s refusal to clear goods, citing lack of conformity to CAAR opinion.

ITAT Deletes Share Premium Addition Due to Blatantly Anomalous Valuation by AO

April 10, 2024 372 Views 0 comment Print

Read the full text of the ITAT Kolkata’s order in the case of Maa Biddeswari Agro Products Pvt. Ltd. vs ITO. Learn how the ITAT ruled to delete the addition of share premium due to the AO’s flawed valuation.

Peak Credit Statement Should be Considered in Cash Deposit Addition: ITAT Indore

April 10, 2024 741 Views 0 comment Print

ITAT Indore held that the peak credit theory should be adopted for determining income of assessee. Under this theory, only peak balance in bank account should be considered for taxation

Trust Registration application under wrong section: ITAT directs Re-adjudication

April 10, 2024 627 Views 0 comment Print

Sri Jeyamkonda Choleeswara Soundaranayaki Amman Kumbhabisheka Malar Kyushu vs ITO (ITAT Chennai) case: Trust’s error in applying for registration under the Income Tax Act leads to ITAT’s directive for reevaluation.

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