Key regulatory changes from July 7-13, 2025, including Income Tax exemptions, GST rulings, customs duty extensions, SEBI master circulars, MCA form updates, and IBC amendments.
Income Tax Department’s crackdown on fraudulent tax claims reveals misuse of deductions and exemptions under various sections. Learn more about ongoing investigations and actions taken to ensure tax compliance.
Calcutta High Court sets aside GST penalty for non-physical delivery challan, emphasizing no tax evasion intent and digital document availability.
ITAT Delhi deletes Section 68 additions on unsecured loans for Prayag Polytech, stating assessee proved identity, creditworthiness, and genuineness.
Introduction I received a message from my client, he was extremely stressed asking me, “Sir, the GST officer has now requested a fresh response to certain points of the notice, particularly regarding ITC reversal, He is insisting that the ITC be reversed immediately and has also asked that the reply be sent through WhatsApp” Earlier, […]
ITAT Pune deletes ₹5.1 Cr income tax addition against Pradeep Runwal, ruling loose papers from a third-party search lacked corroborative evidence.
Karnataka’s Commercial Tax Department issues GST notices to traders based on UPI transaction data, clarifying compliance requirements and tax liabilities.
Bombay High Court ruled that adjudicating authorities must apply independent thought and consider all submissions, not merely copy-paste from show cause notices.
Karnataka Taxpayers Association urges Finance Minister to revise GST turnover limits (₹40L/₹20L to ₹1Cr) due to inflation & digital transaction notices. Proposes amnesty for small businesses impacted by outdated thresholds.
The Gujarat High Court confirmed that transferring long-term leasehold rights for GIDC plots is not subject to GST, classifying it as a transfer of immovable property, similar to a land sale. This clarifies GST applicability for industrial land transactions.
