The Court ruled that large gaps between GST returns and ITR figures cannot justify Section 74 demands without forensic verification. Actual supplies must be established through audit.
The Court clarified that abetment requires proof of the accused’s intention to instigate suicide. Angry words spoken in a quarrel, without mens rea, do not meet the threshold.
The issue was prolonged misuse of correction statements due to no statutory deadline. The law now enforces strict timelines, making accurate original filing mandatory.
This explains why choosing between lump sum and monthly payouts is as important as coverage amount. The right structure helps families manage expenses and plan confidently after a loss.
Businesses are seeking a cap on dividend taxation for resident shareholders to address double taxation concerns. The proposal aims to align domestic taxation with global standards and improve investment sentiment.
Alcohol is constitutionally excluded from GST, while petrol is only temporarily kept out, making their legal treatment fundamentally different.
Rule 87(14) now permits moving unutilised IGST cash from one GSTIN to another under the same PAN via PMT-09, easing blocked cash issues while preserving GSTIN independence.
RBI has laid down a structured relief mechanism for borrowers hit by natural calamities. The framework allows restructuring while protecting asset classification.
ITAT held that execution of a registered joint development agreement amounts to transfer of land. Capital gains timing must be determined from that date, not a later year chosen by the assessee.
Explains when GST applies to real estate transactions and when sale of land or buildings falls outside GST. The key takeaway is that GST targets construction services, not immovable property itself.
