The court referred to Clause (5) of Section 16 , inserted by the Finance (No. 2) Act, 2024, which allows ITC claims for late-filed GST returns effective from July 1, 2017. ITC allowed on Late GSTR-3B Filing: In a pivotal …
The court directed R.B. Traders to submit their reply, objections, and any relevant documents to the respondents within two weeks from the date of receiving the court’s order. In a significant ruling, the Madras High Court has ordered a fresh …
Holding funds in a separate account temporarily before transferring them to the final destination does not qualify as “unexplained money” under Section 69A of the Income Tax Act 1961. Section 69A applicability on Fund Transfers between Accounts: In a significant …
The high court clarified that it is improper to dismiss an appeal for non-payment of fees without giving the appellant an opportunity to rectify any deficiencies. In a significant ruling, the Punjab and Haryana High Court has made a noteworthy …
Allahabad High Court Ruling in case of The Principal Commissioner of Income Tax, Aaykar Bhawan, Noida and Another v. M/s Sampark Management Consultancy LLP The Allahabad High Court recently ruled that no substantial question of law arises in a case where …
The bench concluded that the applicant suffered significant prejudice due to procedural lapses. Consequently, the impugned order was quashed. Quasi-Judicial Orders: The Allahabad High Court, in the case of Agmotex Fabrics Private Limited vs. State of Uttar Pradesh (W.T. No. …
The Karnataka High Court has previously clarified in similar matters that consolidating multiple assessment years into a single SCN—whether under Section 73 or Section 74—violates GST provisions. In a significant ruling, the Orissa High Court has stayed a Show Cause …
The court emphasized that grants provided to cover day-to-day operational expenses, such as salaries and allowances, are not taxable under GST as they do not constitute consideration for goods or services supplied. The Kerala High Court in case of Kerala …
Section 292B provides that no notice, assessment, or proceeding shall be considered invalid due to any error, defect, or omission if it does not impact the substance of the matter. Section 292B Application: In the case of GPT Sons Pvt …
The consistent rulings of various High Courts and the Supreme Court affirm that capital expenditures made to achieve a trust’s charitable objectives are valid applications of income under Section 11 of the Income Tax Act. Treatment of Capital Expenditure to …
Expenditures on charitable purposes can include capital expenditures. The nature of the expense in the hands of the recipient entity does not affect its eligibility as an application of income. Section 11(1) of the Income-tax Act provides significant tax benefits …
The earning of profit per se would not disentitle the Trust, for exemption under sections 11 to 13 of the Act, unless the facts of the case warrant that the funds of the Trust have been misappropriated by the Trust. …
Section 74 is applicable only if there is concrete evidence of fraud, willful misstatement, or suppression of facts to evade taxes. Vague allegations without supporting evidence are insufficient. Section 74 of CGST Act: The Goods and Services Tax (GST) system …
The ITAT Jaipur underscores the need for a detailed examination of rural land transactions for tax purposes, especially when the property is near urban canters. In a significant ruling, the Income Tax Appellate Tribunal (ITAT) in Jaipur has upheld the …
By clarifying that penalty initiation begins from the earliest action, such as a reference from the AO, the Delhi High Court underscores that delays in issuing show-cause notices do not extend the penalty imposition timeline. In a recent ruling, the …
The Court questioned how, during assessment proceedings for 2011-12, the authorities could examine the business nature and extent of the assessee’s activities dating back to 1999-2000. In a significant judgment in Kings Infra Ventures Ltd vs. ACIT (ITA No. 28/2023), …
Acknowledging the breach of natural justice, the Karnataka High Court set aside the impugned ex-parte order. The court directed the respondent to reconduct the appeal hearing. In a significant ruling, the Karnataka High Court has set aside an ex-parte order …
The ITAT ruled that, as long as interest-free funds are sufficiently available at the time of advance, disallowance of interest on subsequent loans will not stand. In this article, we delve into a notable tax judgement of ITAT involving a …
In its ruling, the court set aside the impugned suspension order, directing the GST department to review the petitioner’s reply and issue a decision in accordance with the law. The court stressed that any further actions must align with legal …
The petitioner argued before court, that the issuance of this second order on the identical SCN was effectively a “double jeopardy,” constituting a misuse of power by the department. In a significant ruling, in case of Jain Cement Udyog vs. …