The ITAT set aside the previous order and directed the AO to conduct a fresh assessment. The tribunal instructed the AO to take into account the decision of the CIT(E) on the condonation petition once it is finalized. The Income …
Income tax officials may analyze an individual’s declared expenses in comparison to their bank records, which include credit/debit card transactions and cash withdrawals. The middle class has been facing increasing scrutiny regarding income tax compliance, with discussions intensifying before the …
Supreme Court clarifies that, the Legislative laws are prospective in nature unless expressly stated to have retrospective application, whereas Judicial pronouncements are retrospective by default unless the judgment specifies its prospective effect. The Supreme Court of India has reaffirmed that …
This Supreme Court ruling strengthens legal protections for individuals facing arrest under the GST and Customs Acts. By extending CrPC safeguards to these laws, the Court ensures that tax enforcement authorities follow due process and refrain from arbitrary arrests. The …
A Supreme Court Bench comprising Justice J.B. Pardiwala and Justice R. Mahadevan took note of the conflicting High Court rulings, emphasizing the need for a thorough legal examination. The Supreme Court of India has reserved its judgment on the contentious …
CBDT circular dated January 21, 2015 clarifies that the benefit under Section 54F and Section 54 is limited to one residential house. A recent Delhi High Court ruling denied capital gains tax exemption under Section 54F of the Income Tax …
This ruling of High court serves as an important precedent, reinforcing that procedural delays should not automatically result in the dismissal of appeals, particularly when statutory requirements are met. The Madras High Court has ruled that an appeal cannot be …
This ruling of Madras High Court provides clarity on GST compliance and refund eligibility for businesses dealing with goods detention under Section 129. The Madras High Court, in the case of Chetna Steel Tubes Private Limited v. Goods and Service …
As per the court’s verdict, the initial seizure of cash by the GST department was unauthorized and illegal. The continued retention of the cash by the GST department and its handover to the Income Tax Department did not legitimize the …
Summons under Section 131(1A) typically issued when the I-T Department suspects concealment of income or requires further inquiry before proceeding with search and seizure. Section 131(1A) of the Income Tax Act, 1961 empowers assessing officers with specific authority to issue …
Cases related to best judgment assessments under Section 62, emphasizing procedural fairness and legislative amendments. Section 62 of the Central Goods and Services Tax (CGST) Act, 2017, governs the assessment of taxpayers who fail to file their GST returns. When …
Dismissing the Income Tax Department’s appeal, the Delhi High Court ruled in favor of the taxpayer, reaffirming that routine support services cannot be classified as FTS. In a significant ruling, the Delhi High Court has clarified that Fee for Technical …
The Court noted that if delays were condoned, it could undermine taxpayer protections outlined in Sections 73(10) and 75(2) of the GST Act. The Andhra Pradesh High Court has ruled that a delay of two days in issuing a Goods …
This judgment of court reaffirms that individual components of an SCN must be adjudicated separately unless explicitly quashed. The Delhi High Court has ruled that if a Show Cause Notice (SCN) is quashed on one issue, it does not imply …
The case was remanded by court to the original authority for fresh adjudication, with instructions to consider all submitted documents and provide a reasoned decision within three months. In a significant ruling, the Allahabad High Court has held that the …
This Supreme Court judgment reaffirms the strict interpretation of Section 271AAA(2), making it clear that merely paying taxes voluntarily does not exempt an assessee from penalties if undisclosed income is admitted only at the assessment stage. The Supreme Court of …
This judgment sets a crucial precedent, ensuring that businesses across India are not unfairly restricted from obtaining GST registration in different states. The Andhra Pradesh High Court has ruled that authorities cannot refuse GST registration solely because the applicant belongs …
This ruling of Madras High Court underscores the importance of natural justice in GST assessments and provides taxpayers an opportunity for fair representation. In a significant ruling, the Madras High Court has granted a final hearing in the case of …
Key Takeaways from New Income Tax Bill 2025 to be Introduced in Parliament on 13 February 2025 The government has introduced the new Income Tax Bill 2025, which will be tabled in Parliament on February 13, 2025. After parliamentary committee …
This landmark ruling reinforces the principle that intermediaries operating in a fiduciary capacity are distinct from the principal parties in transactions. It sets a strong precedent for brokers, real estate facilitators, and agents, protecting them from undue penalties under Section …