Adv Aditya Narayan 
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT), in the case of Kn Support Services Private Limited vs. DCIT (29 August 2025), dealt with the issue of delayed filing of Form 10-IC under Rule 21AE of the Income Tax Rules. The …
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) recently dealt with the issue of penalty under section 271D of the Income-tax Act, 1961, in the case of Smt. Nimmatoori Yashoda vs DCIT. The assessee had received substantial cash consideration on sale …
In a significant ruling, the Calcutta High Court has set aside orders denying Input Tax Credit (ITC) to a purchaser, holding that the taxpayer cannot be penalised when no fault is attributable on their part in complying with GST obligations. …
The Allahabad High Court, in M/s Bala Ji Medical Agency v. State of U.P. (Writ Tax No. 867 of 2025, decided on 2 September 2025), set aside a show-cause notice (SCN) and the consequent order cancelling the petitioner’s GST registration. The Court …
The Karnataka High Court in JSW Steel Limited v. Joint Commissioner of Central Tax & Ors. (W.P. No. 12061 of 2025, decided on 13 August 2025) dealt with a crucial question of natural justice in tax adjudication. The Court examined whether an …
On 1 September 2025, the Allahabad High Court delivered a significant ruling in M/s Rakesh Plastic Furniture & Crockery Emporium v. State of U.P. & Others. The case dealt with the detention of goods and imposition of penalty under Section 129 of the CGST/UPGST Act, …
In a landmark decision, the Supreme Court has overturned a recent Kerala High Court ruling and held that cheque bounce cases under Section 138 of the Negotiable Instruments Act remain maintainable even when the underlying debt arises from a cash loan exceeding …
In a significant ruling, the Madras High Court clarified that the limitation period for filing GST appeals under Section 107 of the CGST Act begins only when the order is effectively communicated to the assessee. Mere uploading of the order …
The Delhi High Court, in Asst. Commissioner of Income Tax v. State & Ors., recently held that money obtained through fraud or a Ponzi-style scheme cannot be treated as the taxable income of a company or its directors. Instead, such amounts …
One of the most common hurdles in cheque bounce litigation under Section 138 of the Negotiable Instruments Act, 1881 is securing the presence of the accused. Very often, courts issue summons to the accused at his residential address, but the person deliberately …
The Central Board of Indirect Taxes and Customs (CBIC) is set to introduce a new advanced invoice management system aimed at addressing one of the biggest challenges faced by businesses under the Goods and Services Tax (GST) regime—mismatch notices. Objective of the …
The Income Tax Appellate Tribunal (ITAT), Visakhapatnam Bench, in its decision dated 3 September 2025, examined whether an addition under Section 69 of the Income-tax Act, 1961 could be sustained in respect of a land transaction where the registered sale deed was subsequently cancelled, …
The Calcutta High Court in the case of Dinesh Biswas v. State of West Bengal & Ors. (WPA No. 1737 of 2025, decided on 2 September 2025) examined the legality of cancellation of GST registration on account of non-filing of returns. The …
The Finance Bill 2025 and the subsequent Budget changes have introduced important revisions in how capital gains are taxed in India. For investors and taxpayers, these updates impact not only how gains and losses are reported but also how portfolios …
The Allahabad High Court, in the case of Khurja Scrap Trading Company vs. Additional Commissioner Grade-2 (Appeal) & Another (decided on 29 August 2025), examined the validity of initiating proceedings under Section 74 of the CGST Act. The petitioner had availed Input Tax Credit …
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) recently delivered an important ruling in the case of Smt. Sushama Rajesh Rao v. DCIT (ITA No. 49/Bang/2023, order dated 18 August 2025). The dispute centered on whether capital gains arising from …
The government has rolled out important relaxations linked to GST rate revisions effective from September 22, 2025. These changes aim to simplify compliance for businesses, reduce costs, and make it easier to communicate revised prices to consumers. Here’s a quick …
The Pension Fund Regulatory and Development Authority (PFRDA) has released a draft proposal seeking to overhaul the exit and withdrawal framework of the National Pension System (NPS), inviting public comments by October 17, 2025. The proposed amendments aim to provide greater flexibility, liquidity, and choice to …
In a major move to strengthen India’s economy and provide relief to the common man, Finance Minister Nirmala Sitharaman has announced significant GST rate cuts and rationalization measures. These reforms are expected to not only reduce the tax burden on households but also …
Date: September 19, 2025 Issued by: Accounting Standards Board, The Institute of Chartered Accountants of India (ICAI) The Institute of Chartered Accountants of India (ICAI) has announced a significant update regarding the Guidance Note on Financial Statements of Non-Corporate Entities …