Key Highlights of the CBDT Instruction 1. What Changed? The CBDT has amended its own instruction (originally issued on March 15, 2022) to align with the statutory changes made by the Finance (No. 2) Act, 2024. The update specifies that prosecution under Sections 49 and/or …
The Chhattisgarh High Court recently affirmed the order of the Income Tax Appellate Tribunal (ITAT) granting registration under Section 12AA of the Income-tax Act, 1961 to a trust created for the benefit of pharmaceutical dealers. The ruling underscores that at the stage …
The Andhra Pradesh High Court, in a landmark judgment dated 20th August 2025 in the case of JPR Projects vs. The State of Andhra Pradesh, has provided much-needed clarity for taxpayers under the Goods and Services Tax (GST) framework. The ruling deals with …
On 7 August 2025, the Calcutta High Court delivered an important ruling on the issue of levy of penalty under the Goods and Services Tax (GST) regime. The Court held that penalty cannot be imposed on the assessee merely on …
The Supreme Court, in its judgment dated 28 August 2025, delivered a significant ruling in the field of tax prosecutions by quashing criminal proceedings initiated by the Income Tax Department against an assessee under Section 276C(1) of the Income Tax Act, …
The Bombay High Court in Gateway Terminals India Pvt. Ltd. v. DCIT & Ors. (26 August 2025) has delivered a significant ruling on the scope of deductions under Section 80-IA of the Income-tax Act, 1961. The issue before the Court was whether interest …
Introduction The Andhra Pradesh High Court, in its decision dated 14 August 2025, held that refund claims filed beyond the prescribed limitation period under the GST regime are to be entertained in certain circumstances, especially where such delay is attributable …
The issue before the Income Tax Appellate Tribunal (ITAT), Ahmedabad, in its order dated 19 August 2025, revolved around the rejection of a trust’s application for registration under section 12AB of the Income-tax Act, 1961. The Commissioner of Income Tax (Exemptions) [CIT(E)] …
In a legal challenge against India’s recently enacted Promotion and Regulation of Online Gaming Bill, 2025, which imposes a nationwide ban on all forms of online money games, Heads Digital Works Pvt. Ltd., the company operating popular platforms like A23 …
Many employers in India provide a Flexible Compensation Structure (Flexi Pay), which allows employees to design part of their salary by choosing from different allowances and reimbursements. The objective is to optimize tax savings while meeting personal and professional needs. However, not all …
The Goods and Services Tax (GST), launched in July 2017, has been one of the most transformative tax reforms in India’s history. Now, eight years later, the indirect tax regime is at a critical crossroads. The 56th GST Council Meeting, …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, in the case of Gujarat Technological University vs. DCIT (order dated 19 August 2025), held that a mere procedural lapse such as delay in filing Form 10 and Form 10B cannot be the sole …
Leave encashment is a monetary benefit received by an employee for the leave days not availed during the period of service. The Income-tax Act, 1961 provides exemption on such receipts under Section 10(10AA). The scope of exemption depends upon the nature …
Gratuity is a retirement benefit payable by an employer to an employee in recognition of long and continuous service. To provide relief to employees, the Income-tax Act, 1961 grants exemption on gratuity receipts under Section 10(10). The extent of exemption depends …
Railways remain one of the most reliable and cost-effective modes of transporting goods across India. With the implementation of GST, businesses must ensure proper compliance while sending consignments through the railway network. This involves maintaining the right documentation, generating e-way …
In India, life insurance and health insurance are not just tools for financial protection but also provide significant tax-saving opportunities under the Income-tax Act, 1961. Life insurance safeguards the financial security of dependents in case of an unfortunate event, while …
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, held that a trust cannot be denied registration under Section 12AB of the Income-tax Act, 1961 merely on the ground that it was created for the benefit of a particular caste …
The Madras High Court, in its judgment dated 5 August 2025 in Chandrasekar Balasubramanian v. Superintendent of CGST & Central Excise (W.P. No. 29038 of 2025), addressed the issue of GST registration cancellation on account of prolonged non-filing of returns. The petitioner, a sole …
In a significant relief to real estate developers, the Pune Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that Section 43CA of the Income Tax Act, 1961 cannot be invoked when the agreement value at the time of booking exceeds the stamp …
The Central Board of Indirect Taxes and Customs (CBIC), through a recent update on its official “X” (formerly Twitter) handle, has issued an advisory cautioning businesses, industry stakeholders, and the general public against engaging in speculation regarding Goods and Services …