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State Budgets - Union Budget - difference between state and union budget - Union Budget 2025 - Nirmala Sitharaman - taxscan

State Budgets v/s Union Budget: Key Differences

With India set to receive the Union Budget 2025-26 on February 1, 2025, the finance verse is abuzz with the probable inclusions and changes to...

Penalty Not Maintainable When Assessment Order No Longer Exists: ITAT [Read Order]

NCLAT Orders Meta to Pay Penalty; Stays Ban on WhatsApp's Data-Sharing Policy [Read Order]

SCN issued in 2008 Not Adjudicated for 15 Years: Delhi HC Rejects Placement of Matter in Call Book...

Maharashtra Customs Commissioner Launches Electronic Voluntary Payment System on ICEGATE Platform...

CBI DySP Among 4 Caught in ₹20 Lakh Bribery Scandal Linked to Customs Corruption Probe

The Central Bureau of Investigation ( CBI ) has charged its Deputy Superintendent of Police ( DySP ) Arun Bhashkar, along with a customs officer, a GST official, and a private individual, in...

Fake GST Summons Alert: CBIC Warns Taxpayers, Offers Verification and Reporting Tools

The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, has issued an advisory alerting taxpayers about a rise in fraudulent activities involving fake GST (Goods and...

Undervaluation of Closing Stock: ITAT upholds CIT(A)'s decision to delete Rs. 2.92 Crore addition [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax(Appeals)[CIT(A)]'s decision to delete the addition of Rs. 2.92 crore made by the Assessing Officer...

Disallowance of ₹16.84 Lakhs as LC Discounting Charges u/s 36(1)(iii): ITAT Finds Addition Unjustified [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) found the addition of ₹16.84 Lakhs as LC discounting charges under Section 36(1)(iii) of Income Tax Act,1961 to be unjustified. BPS...

GSTN issues Advisory on Alternate Mechanism and Business Continuity for e-Invoice & e-Waybill Systems

The Goods and Services Tax Network ( GSTN ) has recently released an Advisory dated 24 January, 2025 sharing important updates regarding alternate mechanisms and business continuity plans for...

ITAT Remands Rs. 1473.8 Crore Unexplained Money Addition for Fresh Assessment, due to Lack of Fair Hearing [Read Order]

The Delhi Income Tax Appellate Tribunal ( ITAT ) remanded the addition of Rs. 1,473.8 crore as unexplained money for fresh assessment due to a lack of fair hearing. The assessee, Alok Dev,...

Supreme Court & High Courts Weekly Round-up [Jan 18th to Jan 24th,2025]

This weekly round-up analytically summarizes the key stories related to the Supreme Court and High Court reported at Taxscan.in during the previous week 18th January 2025 to 24th January 2025) ...

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