The ITAT directed the Commissioner of Income Tax Appeals CIT A to apply delay exclusion in a case where there was a 775-day delay in filing an income tax appeal due to COVID-19…
16/12/20241 min read
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The ITAT directed the Commissioner of Income Tax Appeals CIT A to apply delay exclusion in a case where there was a 775-day delay in filing an income tax appeal due to COVID-19…
The ITAT remanded a case to the Commissioner of Income Tax Appeals CIT A due to the failure to consider service of notices and submissions made by the assessee. The case involved…
The Kerala High Court ruled that an income tax refund application filed under Section 119 2 b after nine years cannot be condoned. The case involved a taxpayer who had applied for…
The ITAT has restored a matter for de novo assessment in a case involving the disallowance of ₹17.17 lakh in expenditure. The taxpayer had claimed the expenditure, which was…
The ITAT remanded the matter to the Assessing Officer AO due to discrepancies in the payment of External Development Charges EDC and the related tax liabilities. The case involved…
The National Company Law Appellate Tribunal NCLAT ruled that secured creditors are liable to pay the liquidator’s fees under Rule 21A of the Insolvency and Bankruptcy Code IBC…
The Customs, Excise and Service Tax Appellate Tribunal CESTAT held that a declaration of goods' description and classification, based solely on the Customs Department's belief and…
The Supreme Court issued an interim order stating that TM Krishna should not be recognized as the recipient of the Sangita Kalanidhi Award, which was originally given to him in…
The Income Tax Appellate Tribunal ITAT quashed the reassessment under Section 148 based on incriminating materials, highlighting that reopening an assessment must be grounded on…
The National Company Law Appellate Tribunal NCLAT ruled that a petition under Section 7 of the Insolvency and Bankruptcy Code IBC can be admitted even for defaults committed…
The ITAT allowed a full deduction for excess loan interest that was earlier disallowed by the assessing officer AO . The case involved a taxpayer who had claimed a deduction for…
The ITAT has remanded a case involving a ₹3.28 crore addition related to short-term capital gains STCG to the assessing officer AO for re-verification. The taxpayer had failed to…
The CESTAT imposed a ₹5,000 penalty on a customs broker for failing to personally verify client documents and credentials, violating Regulation 10E. The broker was found to have…
The Punjab and Haryana High Court ruled that the GST department has the authority to conduct a preliminary inquiry regarding the books of accounts of a business. The court held…
The Supreme Court's judgment in the Nestlé case is linked to Switzerland revoking India's Most-Favored-Nation MFN status under the Double Taxation Avoidance Agreement DTAA . The…
The Kerala High Court dismissed a petition challenging the taxability of royalty payments, specifically in the case involving mineral rights. The court ruled that royalty payments…
The ITAT has remanded a case back to the Commissioner of Income Tax Appeals in a case where an appeal was dismissed ex-parte concerning an addition of unexplained income. The…
The Delhi High Court analyzed the unclear legal position of the Directorate of Revenue Intelligence DRI officers' authority to issue show-cause notices SCNs under the Customs Act.…
The ITAT remanded a case back to the assessing officer AO regarding the addition of ₹21.98 lakh as unexplained deposits under Section 69A of the Income Tax Act. The taxpayer had…
The Bombay High Court set aside a GST demand against a corporate debtor in a liquidation proceeding, ruling that the GST department cannot issue tax demands against companies…
The ITAT has remanded a case back to the assessing officer AO regarding the disallowance of depreciation claims due to an error. The case involved a taxpayer who had claimed…
The Income Tax Appellate Tribunal ITAT deleted a penalty of ₹5.28 lakh imposed on a taxpayer for underreporting income under Section 270A of the Income Tax Act. The tribunal ruled…
The Supreme Court has deferred a special leave petition SLP involving an alleged ₹38,000 crore tax evasion case, asking the revenue department to file a supplementary affidavit.…
The Income Tax Appellate Tribunal ITAT ruled that procedural delays in filing Form 67 for claiming foreign tax credits should not be grounds for denying the credit. The case…
The Allahabad High Court ruled that GST orders should be made visible in a designated tab for better access and clarity. This ruling came after the court quashed an order…
Switzerland plans to suspend the Most-Favored-Nation MFN clause under the Double Taxation Avoidance Agreement DTAA with India. This move comes in response to India's tax policies,…
The CGST Department has uncovered ₹4 crore worth of GST evasion through a raid conducted on Gala Developers, a prominent real estate company. The company allegedly evaded tax by…
The Comptroller and Auditor General CAG report highlights a GST revenue loss of ₹755.49 crore in the Commercial Tax Department of India. The report points out gaps in revenue…
The Income Tax Department has issued notices to Indian residents regarding undeclared foreign assets, specifically foreign ESOPs Employee Stock Ownership Plans and investments.…
The GST Registration Advisory in Chhattisgarh, Goa, and Mizoram mandates biometric Aadhaar authentication and document verification for obtaining GST registration. This process is…
The Supreme Court ruled that the National Investigation Agency NIA has the authority to investigate unscheduled offenses connected to scheduled offenses under the Unlawful…
The Supreme Court reprimanded a senior advocate for failing to inform a client whether a case had been filed after receiving payment. The client had handed over money for legal…
The Supreme Court took up the case for a 33% reservation for women in the legal profession, with a plea submitted by a Gujarat-based lady advocate. The Court heard the case and…
The Bar Council of India BCI informed the Supreme Court that an advocate cannot take up full-time journalism due to professional conflict. This issue arose when a lawyer sought to…
The Supreme Court has mooted the idea of transferring Amazon and Flipkart’s ongoing cases from the Karnataka High Court to the Supreme Court. The cases, which involve allegations…
The ITAT ruled that mere cash deposits in a taxpayer’s account cannot automatically be treated as income under Section 69 of the Income Tax Act. The case involved a taxpayer who…
The ITAT upheld the CIT A order regarding the challenge on Fair Market Value FMV assessed based on an occupancy certificate. The case involved a dispute where the FMV of a…
This article provides a detailed analysis of the audit and special audit provisions under GST, focusing on Sections 65 and 66 of the CGST Act. Section 65 empowers tax authorities…
The Bombay Stock Exchange BSE and the National Stock Exchange NSE have fined Go Digit for failing to furnish necessary data in time. The penalties come as part of the exchanges'…
Levi Strauss India has reported a decline in profits, driven by challenges in the domestic retail sector. The company, which is known for its iconic denim products, has been…
The weekly funding report by Entrackr indicates that Indian startups raised significant investments between December 9 and 14, 2024. With a total of $635 million in funding, the…
In the ongoing competition between Amazon and Flipkart, the Supreme Court of India ruled that the Competition Commission of India CCI cannot offer special treatment to the two…
Indian startups raised $635 million during the week of December 9-14, 2024, according to reports. This capital infusion comes amidst growing investor confidence in India’s startup…
Zerodha, one of India’s leading stockbroking firms, has reportedly seen its revenue approach INR 10,000 crore, reflecting a remarkable growth trajectory. The firm, known for its…
The ITAT has ruled that a delay in filing Form 67 is not sufficient grounds to deny relief under Section 90 of the Income Tax Act. The case involved a taxpayer seeking relief…
Bluestone, a prominent online jewelry brand, filed its Draft Red Herring Prospectus DRHP , offering a glimpse into its shareholding pattern and the leadership behind the company.…
The Supreme Court of India is set to settle the law on whether the failure to furnish grounds at the time of an arrest can invalidate the arrest. The case arose from a situation…
A Lucknow court has summoned Rahul Gandhi, the Congress leader, for his remarks on Veer Savarkar. Gandhi had allegedly made controversial statements about the freedom fighter,…
The Supreme Court of India ruled that government sanction is not required to prosecute police officers accused of filing false cases or fabricating evidence. The case involved the…
The Bombay High Court quashed an FIR against a lawyer who was booked for allegedly making defamatory remarks about a woman’s character. The case involved a legal practitioner who…
The ITAT directed the Commissioner of Income Tax Appeals CIT A to apply delay exclusion in a case where there was a 775-day delay in filing an income tax appeal due to COVID-19…
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