ITAT Sets Aside Addition Under Section 50C Due to AO’s
ITAT Sets Aside Addition Under Section 50C Due to AO’s Negligence Recent developments in the Income Tax Appellate Tribunal (ITAT) have shed light on the importance of following…
TAXATION UPDATES
Rental Income Not Business Income Due to Multiple Objects
Rental Income Ruling: A Taxing Matter The Income Tax Appellate Tribunal, Delhi Bench, has delivered a significant ruling in the case of Sumrit Impex Pvt. Ltd. vs Assessment…
Tamil Nadu VAT Demand Unenforceable Due to Department’s
Tamil Nadu VAT Demand Unenforceable Due to Department’s Systemic Flaws The Madras High Court has delivered a significant judgment in favour of a manufacturer and exporter of…
Bombay HC: ‘Authorized Operations’ Not Applicable Pre-Oct 2023
Bombay High Court Clarifies Refund Eligibility for Pre-October 2023 Transactions The Bombay High Court has issued a significant clarification regarding the applicability of…
No GST Transition for EC, SHEC, KKC Credits Allowed
A recent High Court ruling clarifies the non-transitionability of certain pre-GST cess credits, impacting businesses that paid Service Tax with Education Cess (EC), Secondary…
Freight, Insurance Added to Assessable Value
A recent ruling by the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Ahmedabad, clarifies the valuation of goods for excise duty purposes, impacting manufacturers…
SEZ Units Get Service Tax Refund for Approved Services
SEZ Units Get Service Tax Refund for Approved Services Recent Tribunal rulings have provided clarity on service tax refunds for Special Economic Zone (SEZ) units. In a…
Late Fees Imposed for Delayed GSTR-9C Filing Upheld
A recent ruling by the Madras High Court has clarified the implications of delayed filing for a crucial GST compliance document, impacting businesses with turnovers exceeding a…
ITAT Upholds Validity of Scientific Research Deduction
ITAT Upholds Validity of Scientific Research Deduction The Income Tax Appellate Tribunal (ITAT) Delhi has delivered a significant ruling in favor of an assessee, upholding the…
Uttarakhand High Court Allows GST Registration Revocation
Uttarakhand High Court Offers GST Registration Revocation Relief The Uttarakhand High Court has made a significant ruling in a writ petition challenging the cancellation of a…