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Top Tax Stories

ITAT : Mumbai ITAT Recognizes Full Indexed Cost and Section 54 Deduction on Redeveloped Property: Assessee’s Capital Gains Tax Relief Upheld
ITAT : Delhi ITAT Rules Section 13(1)(c) Inapplicable on Overseas Grant Remittance, Limits Disallowance to Unutilized Funds in Case of Society’s Sub-Grant to University of Texas
ITAT : Lucknow ITAT Quashes Rectification under Section 154: Conflicting Legal Views on Refund Interest Preclude 'Mistake Apparent from Record'
ITAT : Delhi ITAT Rejects Deemed Income Addition on Builder's Rebate Granted as Contractual Incentive under Apartment Agreement
HC : Kerala High Court Validates Income Tax Search on CPI(M) Secretary; Prohibitory Order on Bank Account Lapses by Statutory Operation
HC : Delhi High Court Upholds Non-Taxability of Centralised Service Receipts as FIS under India-USA DTAA in Hotel Sector Cross-Border Transactions
ITAT : Delhi High Court Invalidates Reassessment Notice for AY 2016-17: Limitation Under Section 153A Strictly Confined to 6 Assessment Years Absent Asset Representation
HC : Bombay High Court Confirms Assessing Officer’s Limited Scope under Section 115J: No Authority to Re-examine Audited Book Profits Prepared per Companies Act
HC : Madras High Court Rules Section 55(2)(b)(iii) Prevails for Cost Computation of Immovable Assets Received on Company Liquidation, Criticizes ITAT’s Adherence to Precedent
HC : Delhi High Court Invalidates Late Reassessment Proceedings Against Samajwadi Party for AY 2014-15: Section 148 Notice Held Time-Barred
HC : Delhi ITAT Affirms Profit-Only Taxation on Undisclosed Receipts, Disallows Separate Addition for Unaccounted Expenditure Following Search Seizure of Loose Papers
ITAT : Chennai ITAT Quashes BMA Assessment for Wrong Assessment Year; Holds Taxable Event Arises on Date of Section 10(1) Notice
ITAT : No Capital Gains on Revaluation of Goodwill and Admission of New Partner—Section 45(4) Not Invoked Where No Asset Transfer Occurs
ITAT : Delhi ITAT Rules Against Revenue: No Beneficial Ownership Attributed to Assessees for Overseas Company Assets—Corporate Veil Not Lifted in Absence of Tainted Transactions
ITAT : Agra ITAT Emphasizes Substantial Justice, Condones 46-Day Delay in Section 271B Penalty Appeal Owing to Staff Negligence
ITAT : ITAT Dehradun Quashes Concealment Penalty on Foreign Company: Bona Fide Absence of PE and Full Disclosure Shield Assessee
HC : Telangana High Court Affirms ITAT’s Quashing of Section 263 Revision: PCIT’s Challenge on Forex Loss and Miscellaneous Expenditure Fails Due to Lack of ‘Erroneous and Prejudicial’ Findings
HC : Gujarat High Court Sets Aside Section 148 Reassessment Based on Unsubstantiated Tax Evasion Petition, Citing Lack of Tangible Evidence and Non-Supply of Foundational Documents
HC : Gujarat High Court Invalidates Section 148 Reassessment for Unsecured Loans, Affirms Assessee Not Required to Prove ‘Source of Source’ Prior to April 2023
HC : Bombay High Court Overturns CIT(E) Decision, Orders Condonation of Delay in Form 10 Filing Due to Absence of Statutory Time Limit for AY 2015-16
HC : Gujarat High Court Upholds Bank Account Freeze of Fintech Platform for Lapses in Due Diligence over Online Gaming Transactions
HC : GSTAT Delhi Terminates Anti-Profiteering Case Against Shree Suktam Enterprise Over Inability to Trace Supplier, Orders Further Probe for Potential Bogus Billing
HC : GSTAT Delhi Declines Retrospective Interest under Rule 133(3)(c) on Profiteering by Dange Enterprise, Orders Deposit of Rs. 4.5 Lakh in Consumer Welfare Fund
AAR : Tamil Nadu AAR Rules GST Not Applicable on Rent for Godown Used Exclusively for Storage of Paddy, Citing Agricultural Produce Exemption
AAR : Gujarat AAR Rules 18% GST Payable on Supply of Waste Processing Machinery to Municipality—No Exemption as “Pure Services”
HC : Calcutta High Court Orders Immediate Unblocking of Electronic Credit Ledger After Expiry of Statutory Period, Restrains Revenue from Coercive Action on Jurisdictional Grounds
HC : Calcutta High Court Nullifies Arunachal Police’s Bank Account Freeze for Lack of Magistrate’s Sanction: Section 106/107 BNSS Invoked
AAR : West Bengal AAR Rules GST Payable on Price Variation Awards in Hydro Power Plant Arbitration, Excludes Liquidated Damages from Tax Net
HC : Gujarat High Court Grants Conditional Bail to Partner in ₹21.93 Crore GST ITC Fraud Case, Emphasizes Completion of Investigation and Recovery Safeguards
HC : Punjab & Haryana High Court Grants Bail to Film Producers Accused of IGST Evasion Citing Prolonged Custody and Absence of Fraud Allegations
HC : Calcutta High Court Remands GST Adjudication over ITC Denial—Violation of Natural Justice on Supplier Cancellations and Credit Notes
AAR : Gujarat AAR Clarifies GST Classification for KAPSUL’s Mukhwas and Digestive Products: Distinction Made Between Supari-based Capsules and Digestive Blister Packs
AAR : Gujarat AAR Rules GST Exemption for Architect’s Consultancy to AMC on Fire Services, Staff Housing, and Parking Projects as 'Pure Services'
AAR : Uttarakhand AAR: Medicated Toilet Soap Attracts 18% GST, Not Eligible for Reduced Rate Applicable to Ordinary Toilet Soap
HC : Kerala High Court Quashes GST Recovery for Bonafide Error in Revised TRAN-1/TRAN-2; Directs Revenue to Allow Correction of Transitional Credit Claims
HC : Bombay High Court Quashes Provisional Attachment for Lack of Reasoned Order: Mandates Speaking Orders Under Section 83 MGST Act in Redevelopment Flat Allotment Case
HC : Allahabad High Court Allows 52-Day Condonation of Delay in GST Appeal Owing to Proprietor’s Serious Illness: Emphasizes Sufficiency of Bona Fide Cause
SC : Supreme Court Upholds BCD Exemption for BenQ’s Interactive Flat Panels under CTI 8471 41 90; Dismisses Revenue’s Appeal on Classification Dispute
HC : Calcutta High Court Orders Restoration of GST Registration, Citing Lack of Fraud or Evasion in Non-Filing Case
HC : Gujarat High Court Remands GST Refund Dispute for Fresh Adjudication; Orders Appellate Authority to Examine Documentary Evidence Despite Ex Parte Proceedings