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Re-Assessment on the basis of Documents already in hand of AO not Valid: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer cannot invoke the provisions of section 147 and 148 to...

Vagueness and Ambiguity in recording of Satisfaction would nullify Penalty Proceedings: ITAT [Read...

Key Decisions of 36th GST Council Meeting: Tax on EVs Reduced

Toll Tax in Highways: Telangana High Court asks to produce List of Exempted Dignitaries

CA Answer Sheet Controversy: ICAI to proceed against Delinquent Examiner

No Deduction since Sale was made in Cash under Unregistered Deed: ITAT [Read Order]

The Jaipur bench of the Income Tax Appellate Tribunal ( ITAT) has held that the deduction under section 54B and 54F of the Income Tax Act is allowable when the sale in question is made under an...

GST leviable on Contribution made by RBI and Public Sector Banks to NIBM [Read Order]

The Authority for Advance Ruling (AAR), Maharashtra has held that GST can be levied on the contribution to the National Institute of Bank Management ( NIBM ) by the member banks like the Reserve Bank...

Law does not Prohibit Share Purchase in Cash: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the law does not prohibit the Share Purchase in cash. The assessee, in her return for the relevant assessment year, claimed...

Gujarat High Court orders Tax Dept to pay 9% Interest on Delayed IGST Refund [Read Order]

In a significant ruling, a two-judge bench of the Gujarat High Court has directed the GST department to pay 9% interest on the for the default of delayed refund of IGST. The petitioners contended that...

Govt. issues strict direction to deal with Fugitive Economic Offenders

The Government issued directions to deal with wilful bank loan defaulters or fugitive economic offenders. For this a Look Out Circular (LOC) can be opened by the Bureau of Immigration in respect of...

Palm Oil Fruit is also Fruit: CESTAT allows GTA Exemption [Read Order]

While granting GTA exemption to palm oil manufacturers, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Hyderabad bench has held that the palm oil fruit should also be treated as...

Mere Existence of Mixed Fund do not Automatically attract Disallowance u/s 14A: Gujarat High Court [Read Judgment]

A two-judge bench of the Gujarat High Court has held that the mere existence of mixed fund would not automatically attract disallowance under section 14A of the Income Tax Act, 1961. During the...

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