In a landmark development, the Supreme Court of India has reaffirmed its stance on allowing Input Tax Credit (ITC) for commercial real estate developers on construction expenses for properties intended for lease. On May 20, 2025, a two-judge bench comprising …
In a significant relief to Bollywood actor Arjun Rampal, the Bombay High Court has quashed a non-bailable warrant (NBW) issued against him by the Ballard Pier Magistrate Court in connection with a 2019 income tax evasion case. The vacation bench …
Generally, you cannot file an FIR (First Information Report) at a police station solely for the recovery of money. Police are not equipped to handle civil matters like debt recovery, and the legal framework doesn’t authorize them to act as …
In a significant ruling, the Madras High Court granted relief to a taxpayer by allowing an appeal against a Goods and Services Tax (GST) demand order. The case highlights the consequences of a GST consultant’s failure to submit a proper response and …
Home loan interest is a significant tax-saving tool under Section 24(b) of the Income Tax Act, 1961. Understanding the deduction limits, eligibility criteria, and how to claim them can help taxpayers maximize their savings. This guide covers everything you need to know …
In a landmark ruling that brings significant relief to businesses, the Supreme Court of India has upheld the use of Input Tax Credit (ITC) from the electronic credit ledger (ECrL) to make mandatory pre-deposits in Goods and Services Tax (GST) …
In a significant judgment, the Allahabad High Court has ruled that availing Input Tax Credit (ITC) under the Goods and Services Tax (GST) regime without actual supply of goods or services constitutes fraud and is squarely covered under Section 74 …
In a significant ruling, the Jharkhand High Court has firmly restricted the scope of scrutiny under Section 61 of the Jharkhand Goods and Services Tax (JGST) Act, 2017. The Court ruled that GST authorities cannot compare declared transaction values with …
Filing a summary suit offers several advantages for money recovery, including expedited legal proceedings, faster resolutions, and streamlined procedures. It’s a fast-track mechanism designed for cases involving clear debt or liquidated demands arising from written contracts, enabling quicker recovery compared …
In its continuous effort to curb the use of unaccounted cash in the economy, the Income Tax Department of India has intensified its surveillance on certain high-value financial transactions. These transactions, if found to be disproportionate to your declared income, may lead …
In a significant development that reinforces the importance of due process, the Madras High Court has set aside a GST demand order issued against a private construction company, citing a clear violation of the principles of natural justice. The case …
ITR Filing Made Easy with Digital Form 16: A Game-Changer for Taxpayer In a significant move towards simplifying the income tax return (ITR) filing process, the Income Tax Department of India has rolled out the Digital Form 16, an upgraded and electronically generated …
In a significant decision impacting GST litigations, the Uttarakhand High Court in case of Horizon Packs (P.) Ltd. v. Union of India reinforced a key procedural safeguard under the GST law. The Court held that any tax, interest, or penalty demanded through …
In a significant development aimed at tightening Goods and Services Tax (GST) compliance, a report by the Deputy Commissioner of Central GST, Central Excise, and Customs has confirmed that cooperative societies with an annual turnover exceeding Rs 20 lakh are …
As of May 16, 2025, the Income Tax Department has yet to enable the e-filing utilities for Income Tax Return (ITR) filing for Assessment Year (AY) 2025-26. Although all ITR forms (ITR-1 to ITR-7) have already been notified, the utilities …
Input Tax Credit (ITC) is the cornerstone of India’s Goods and Services Tax (GST) regime. It ensures that taxes paid on inputs can be offset against tax liability on outputs, thereby avoiding tax cascading and encouraging transparency in the value …
In a major relief for taxpayers, the Goods and Services Tax Network (GSTN) has streamlined the documentation process for availing benefits under the GST Amnesty Scheme 2025. Taxpayers applying for interest and penalty waivers no longer need to wait for the …
In the realm of financial transactions, cheques are a commonly used instrument to ensure payment security. However, issues often arise when a cheque, particularly a security cheque, gets dishonoured. A widely debated question is whether the dishonour of a security cheque can attract …
Issuing a blank cheque, where only the signature is affixed and all other particulars are left blank, is a common practice in many business and personal transactions in India. While this might seem risky at first glance, Indian law has laid …
In a significant ruling, the Himachal Pradesh High Court has emphasized that winding-up proceedings under the Companies Act should be transferred to the National Company Law Tribunal (NCLT) if they have not reached an irreversible stage. The division bench comprising …