The Tribunal ruled that non-filing of Form 10B is a curable defect and cannot justify denial of exemption during processing. Section 143(1) cannot be used to decide debatable exemption issues.
The proposal highlights inequities under individual taxation for single-earner families. Joint filing could align tax liability with household income capacity.
The new legislation restructures and simplifies income-tax provisions without altering tax rates. It aims to improve ease of compliance and legal clarity.
Courts have ruled that references to the TPO cannot be made mechanically. The key takeaway is strict compliance with CBDT Instruction No. 3/2016 is mandatory for jurisdiction.
Explains why many insolvency resolutions fail due to lack of execution capital and how a Revival Fund can prevent value-destructive liquidations by supporting viable businesses.
The High Court’s leadership change marks a milestone for women in the judiciary. The appointment reflects institutional commitment to inclusivity and constitutional values.
The High Court ruled that GST demands cannot be determined against a deceased proprietor. Authorities must issue show cause notices to legal heirs before fixing liability, failing which proceedings are void.
The error arises when rejected TDS entries are not amended by the deductor. Correcting the entry through Table 4 of GSTR-7 resolves the issue.
This article explains how Section 9 exempts certain foreign exchange holdings from repatriation duties. The key takeaway is that RBI-prescribed limits and conditions determine when retention is lawful.
Income tax exemptions, GST clarifications, and penalty rulings dominated the week. Courts and authorities reinforced substance over form in compliance matters.
