The Tribunal ruled that addition of alleged undisclosed income could not be sustained merely on the basis of WhatsApp chats without supporting enquiry or evidence. It held that the department failed to establish any actual transaction involving the assessee.
The ROC Mumbai penalized a company and its Managing Director for failing to include mandatory disclosures in the Board Report for FY 2019-20. The ruling highlights that omissions relating to annual return details, cost records, and secretarial standards can attract penalties under Section 134(8).
Chandigarh Chartered Accountants Taxation Association has requested CBDT to immediately release pending ITR e-filing utilities for AY 2026-27. The representation warns that delays in audit and statutory forms may cause compliance failures, portal congestion, and taxpayer penalties.
The Tripura High Court stayed a Bar Association resolution and show cause proceedings initiated against an advocate who appeared in court during a boycott call. The Court held that lawyers cannot be restrained from performing professional duties toward clients.
The Sales Tax Bar Association requested reconsideration of Bar Council of India rules prohibiting advocates from entering partnerships with non-advocates. The representation argued that modern tax practice requires integrated legal, accounting, and compliance expertise.
The article explains why GST on sale of developed plots may not be sustainable under Schedule III of the GST law. It also discusses departmental audit objections and judicial support favoring non-taxability of developed land transactions.
The Madras High Court held that penalties under Section 122 of the CGST Act must equal the ineligible ITC availed or passed on in circular trading cases. The Court ruled that the Rs.10,000 limit cannot apply where the statute uses the phrase “whichever is higher.”
The Delhi ITAT held that informal WhatsApp conversations without corroborative evidence cannot establish unexplained investment under Section 69A. Since no excess jewellery, invoices, or payment proof were found, the addition was deleted.
KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities are affecting return filing preparedness. The representation highlighted risks of penalties, system congestion and compliance pressure.
The article argues that Section 76 of the CGST Act provides a complete recovery mechanism against defaulting suppliers, making ITC denial to genuine purchasers legally unsustainable. It analyses constitutional principles, High Court rulings and statutory safeguards under GST law.
