Tamil Nadu GST AAAR upholds AAR ruling that TR-6 challans, even with Customs letters or SVB orders, do not qualify as eligible documents for Input Tax Credit on import IGST. Only re-assessed Bills of Entry allow ITC, subject to Section 16(4) time limits.
The ITAT confirmed that Section 54F capital gains exemption covers the entire investment in a new residential house, including the cost of land, even if purchased early. It ruled that land is an inseparable component, upholding the construction timeline as sufficient compliance.
HC directed CBDT to issue a circular extending due date for filing income tax returns to 30th November 2025, especially for taxpayers required to file audit reports for assessment year 2025-26, in line with extension of specified date to 31st October 2025.
Gujarat HC confirms deposit into Electronic Cash Ledger (ECL) is valid GST payment to the Government, satisfying bail conditions. Formal debit via DRC-03 is not mandatory.
Analysis of India’s GST regime, focusing on indirect access to Input Tax Credit (ITC) via intermediaries, systemic vulnerabilities, judicial trends, and necessary policy reforms.
MCA clarifies how to fix PAN validation errors in Form ADT-1. Select Individual for auditors operating as sole proprietorships to ensure smooth filing and successful submission.
Important change in Table 6 of GSTR-9 for FY 24-25 – Taxpayers can now report ITC of previous financial year that was claimed in the current year’s GSTR 3B
Relying on Supreme Court judgments, including Andaman Timber Industries, the ITAT dismissed the Revenue’s appeal, emphasizing that the right to cross-examination is mandatory for any addition based on a third-party statement. Failure to grant this right nullifies the assessment order.
Karnataka High Court sets aside reassessment order, ruling that the jurisdictional AO lacked authority to issue a notice and complete proceedings by bypassing the mandatory $\text{Faceless \text{ Assessment \text{ Scheme}}$ (NFAC).
Income Tax Department has introduced a new feature in the e-filing portal that shows when an Assessing Officer or CIT(A) views a taxpayer’s submission, ensuring transparency and accountability in faceless assessments and appeals.
