The ITAT ruled that long-term capital gains cannot be treated as bogus solely on suspicion when transactions are supported by proper banking, demat, and broker records.
The issue concerns denial of policy documents by invoking Section 8(1)(g) without justification. It is argued that such a non-speaking reply violates RTI obligations and warrants appellate scrutiny.
The government has decided to keep small savings interest rates unchanged for January–March 2026. The move ensures stability and predictability for investors relying on these schemes.
Stakeholders seek more time for GSTR-9 and 9C as new ITC reporting rules introduce granular, multi-year reconciliations that significantly raise compliance effort and risk of errors.
This explains how statements recorded during GST investigations gain evidentiary value under Section 136. The key takeaway is that such statements are admissible only in prosecution cases and only under strict statutory conditions.
ITAT deleted additions as alleged cash jewellery purchases were based solely on third-party material without granting cross-examination or furnishing full evidence.
This update explains the major GST and income-tax reforms introduced during 2025. It highlights how simplified rates, faster refunds, and revised tax slabs reduce compliance stress and improve affordability for taxpayers.
The MCA has allowed companies to file annual returns and financial statements for FY 2024–25 up to 31 January 2026 without additional fees. The key takeaway is a temporary but significant compliance relief for delayed filings.
The portal will restrict GSTR-3B filing if ITC reclaims exceed ledger balances. The key takeaway is mandatory correction of excess ITC before return filing.
– CA Lakshman Kumar K – CA Revanth Krishna K Introduction: In recent times, the Central Government has frequently amended existing laws and, in many cases, replaced old enactments with new legislative frameworks. This trend is particularly evident in tax laws such as the Central Goods and Services Tax Act, 2017 and the Income-tax Act, […]
