Sorted by Latest
The new Reverse Charge Mechanism RCM time of supply rules, effective from November 1, 2024, introduce significant changes and compliance requirements for businesses. Under the new…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT provided relief to Ramco Cements by remanding a CENVAT credit matter to determine the place of removal on outward…
Delhi Riots Case: The Delhi High Court granted bail to two men accused in the murder of Head Constable Ratan Lal during the 2020 North-East Delhi riots. The accused argued that…
The Lokayukta police nabbed a Bengaluru tax officer for allegedly accepting a bribe and forging a birth certificate. The officer, identified as Ramesh Kumar, was caught red-handed…
The Finance Ministry imposed anti-dumping duty on welded stainless steel pipes and tubes from Vietnam and Thailand. The decision was made following an investigation by the…
The ITAT allowed a weighted deduction under Section 35 2AB , classifying DSIR funding as a soft loan. The case involved a taxpayer who received funding from the Department of…
The ITAT allowed a deduction of ₹1.72 crore for the reversal of an obsolete inventory provision due to double taxation concerns. The case involved a taxpayer who had made a…
The Andhra Pradesh High Court ordered a fair hearing for an assessee in a property tax dispute and prevented coercive actions. The case involved a taxpayer who disputed a property…
The ITAT considered the COVID-19 limitation extension and found no delay in filing an appeal before the CIT A . The case involved a taxpayer who filed an appeal against a tax…
An addition of ₹44.5 crore was made due to incorrect reporting by an auditor, leading the ITAT to direct the CIT A to condone a delay of 484 days. The case involved a taxpayer who…
A PAN error linking to a partnership firm led to an addition under Section 69A, as ruled by the Income Tax Appellate Tribunal ITAT . The tribunal found the First Appellate…
Depreciation can be calculated on intangible assets, as upheld by the Delhi High Court in a recent ruling. The court supported the depreciation claim allowed by the Commissioner…
The CESTAT overturned a ₹36 lakh service tax demand against HCL, observing adherence to Rule 6 3A of the CENVAT Credit Rules, 2004. The case involved a service tax demand on HCL…
The CESTAT ruled that no customs duty demand can be made on materials intended for manufacturing when destroyed by a fire accident. The case involved a taxpayer who imported raw…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT provided relief to Ramco Cements by remanding a CENVAT credit matter to determine the place of removal on outward…
The Lokayukta police nabbed a Bengaluru tax officer for allegedly accepting a bribe and forging a birth certificate. The officer, identified as Ramesh Kumar, was caught red-handed…
The Finance Ministry imposed anti-dumping duty on welded stainless steel pipes and tubes from Vietnam and Thailand. The decision was made following an investigation by the…
The ITAT allowed a weighted deduction under Section 35 2AB , classifying DSIR funding as a soft loan. The case involved a taxpayer who received funding from the Department of…
The ITAT allowed a deduction of ₹1.72 crore for the reversal of an obsolete inventory provision due to double taxation concerns. The case involved a taxpayer who had made a…
The Andhra Pradesh High Court ordered a fair hearing for an assessee in a property tax dispute and prevented coercive actions. The case involved a taxpayer who disputed a property…
Interim Bail for Former SP MLA: The Supreme Court granted interim bail to former Samajwadi Party MLA Kishore Samrite, who was convicted for attacking a Sub-Divisional Magistrate…
The ITAT considered the COVID-19 limitation extension and found no delay in filing an appeal before the CIT A . The case involved a taxpayer who filed an appeal against a tax…
An addition of ₹44.5 crore was made due to incorrect reporting by an auditor, leading the ITAT to direct the CIT A to condone a delay of 484 days. The case involved a taxpayer who…
A PAN error linking to a partnership firm led to an addition under Section 69A, as ruled by the Income Tax Appellate Tribunal ITAT . The tribunal found the First Appellate…
Depreciation can be calculated on intangible assets, as upheld by the Delhi High Court in a recent ruling. The court supported the depreciation claim allowed by the Commissioner…
The Income Tax Appellate Tribunal ITAT remitted a case to the Commissioner of Income Tax Appeals for reassessment of cash deposits after the admission of additional evidence. The…
The Madras High Court condoned a 285-day delay in filing a GST appeal due to no physical notice being served. The case involved a taxpayer who filed an appeal against a GST demand…
The Income Tax Appellate Tribunal ITAT quashed an order and upheld nil income for Mother Theresa Educational Society due to proper fund application and disallowed depreciation.…
The Income Tax Appellate Tribunal ITAT upheld the deletion of a penalty on Mother Theressa Educational Society for misreported depreciation, highlighting spending compliance. The…
The Punjab and Haryana High Court invalidated Section 148 notices for non-compliance with the faceless assessment procedure. The case involved the issuance of Section 148 notices…
The Patna High Court ruled that a GST demand order issued after the resignation of directors lies against the company and not the ex-directors. The case involved a GST demand…
The Patna High Court upheld the cancellation of a GST registration due to six months of non-filing of GSTR and an unjustified delay in filing an appeal. The petitioner, a business…
The Income Tax Appellate Tribunal ITAT overturned the Assessing Officer’s AO addition of ₹1.4 lakh under Section 68, validating the assessee’s cash and insurance payment…
The Income Tax Department has received a significant response from stakeholders, amassing 6,500 suggestions over the past month for the comprehensive review of the Income Tax Act,…
The Goods and Services Tax GST portal has now activated Form DRC-03A, enabling taxpayers to adjust or set off voluntary payments against an order of demand. This new form,…
Gujarat has solidified its position as one of India’s top contributors to income tax, with a remarkable cumulative collection of ₹3.46 lakh crore over the past five years,…
In a significant crackdown, the Central Bureau of Investigation CBI arrested five senior officials from the Central Goods and Services Tax CGST department in connection with an…
The National Financial Reporting Authority NFRA may revise 35 audit standards next week to enhance transparency and accountability in financial reporting. The proposed revisions…
Marut Drones secured $6.2 million in funding from Lok Capital to support its tech-enabled food and agriculture business models. The funding will be used to scale Marut’s…
Dixon Technologies launched a new subsidiary to manufacture IT hardware components, expanding its product portfolio. The subsidiary will focus on producing components such as…
SEBI cautioned the public against unauthorized virtual trading platforms, warning that transactions on such platforms are at users’ own risk. SEBI emphasized that these platforms…
The government-backed Open Network for Digital Commerce ONDC logged 14 million transactions in October, a 7.6% increase from the previous month. The surge in transactions is…
Veefin Solutions made its first overseas acquisition by purchasing a 50% stake in Singapore-based GenAI startup Walnut. This strategic acquisition aims to enhance Veefin’s data…
The Meghalaya High Court dismissed a petition for a provident fund PF claim, directing the petitioner to utilize alternative remedies before approaching the court. The case…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT relieved Hyundai of a ₹63 lakh penalty, ruling that there was no allegation indicating CENVAT credit availment…
The Patna High Court allowed a 10% reduced pre-deposit to stay recovery due to the delay in constituting the GST Tribunal. The case involved a taxpayer who faced recovery…
The Allahabad CESTAT Bar Association joined the Ghaziabad court incident protest, highlighting concerns over the safety and security of legal professionals. The protest was…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT allowed proportionate credit reversal and questioned additional tax on trading. The case involved a company that had…
The Customs, Excise, and Service Tax Appellate Tribunal CESTAT directed the refund of excise duty to a supplier, noting compliance with mega project exemption conditions. The case…
The Delhi High Court quashed a duplicate order issued after the original final order, rendering it invalid. The case involved a taxpayer who received a duplicate order from the…
The new Reverse Charge Mechanism RCM time of supply rules, effective from November 1, 2024, introduce significant changes and compliance requirements for businesses. Under the new…
Showing 50 of 42930 updates