This summary explains ‘on money’ in real estate, how it’s identified during searches, the burden of proof, and key issues in its taxation, including deductibility of expenses and extrapolation.
Madras High Court upholds income tax notice against advocate for not filing returns on Rs. 55.8 lakh cash withdrawal, even as Power of Attorney.
Supreme Court affirms Gujarat High Court decision allowing GST appeal pre-deposit using Electronic Credit Ledger, rejecting Revenue’s challenge.
SEBI warns investors about stock market scams on social media. Unsolicited invitations, fake profiles, and false promises of returns are used to deceive. Verify SEBI registered intermediaries before investing.
The Supreme Court of India has ruled that taxpayers can use their Input Tax Credit (ITC) from the Electronic Credit Ledger for mandatory pre-deposits in GST appeals, easing liquidity constraints for businesses.
India’s Supreme Court ruled a bank’s 3-year service bond with liquidated damages is valid, not restraint of trade or against public policy.
Supreme Court dismisses appeal, affirming ITC refund claims for inverted duty structure prior to July 18, 2022, cannot be denied based on filing date.
Calcutta High Court directs reconsideration of GST refund for a closed business, stating credit to bank account, not electronic ledger, is appropriate.
Explore how AI can streamline complex GST compliance tasks like return filing, notice responses, and data reconciliation, while highlighting the need for human verification.
जीएसटी प्रैक्टिस में एआई से लाभ संभव, पर गलत जानकारी (hallucination) से सतर्क रहना जरूरी है। व्यवहारिक सुझावों के साथ पूरी जानकारी पढ़ें।
