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Commercial Wisdom of CoC in approving Resolution Plan needs no Interference by Adjudicating Authority unless Plan is Violative of section 30(2) of IBC: NCLAT [Read Order]

In a recent case, the New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that commercial wisdom of the CoC in approving...

Application u/s 7 IBC can be Filed to Claim Remaining Amount after Selling Pledged Shares: NCLAT...

Trader Sold Opening Stock at Discounted Rates Leading to Higher Sales Compared to Previous Years:...

Gone Bananas: Pazhampori set to be doused in 18% GST

NCLAT uphold Resolution Plan In absence of irregularity in conduct of CIRP Proceedings [Read Order]

Beef Fry, Beef Roast and other Pre-Packaged “Ready to Eat” Food attracts 18% GST: AAR [Read Order]

Kerala’s deep-rooted passion for food—exemplified by the iconic Porotta and Beef Fry combo often takes center stage in discussions about its rich culinary heritage. However, a recent ruling by the...

Registration of Proprietary Firm to Evade Tax , Advocate not Liable to Verify Fake Documents Provided by his Client: Jharkhand HC [Read Order]

In a decision in support of the tax practitioner, the Jharkhand High Court observed that a lawyer cannot be held accountable for confirming documents his client filed to register a proprietary...

Validity of S.153C Proceedings for AY 2006-07 : ITAT Restores Matter to CIT(A) [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) restored the matter to the Commissioner of Income Tax(Appeals) [ CIT(A) ] for further scrutiny regarding the validity of proceedings...

No Addition Warranted on Alleged Bogus Purchases When GP Rate Exceeds Genuine Purchases: ITAT [Read Order]

The Income Tax Appellate Tribunal Tribunal ( ITAT ), Mumbai held that no addition by way of disallowance of alleged bogus purchases is warranted when the GP rate exceeds genuine purchases. The...

Major GST Portal Update: GSTR-3B Now allows Negative Values in Outward Supply at Table 3.1

In a recent update to the GST Portal, the Goods and Services Tax Network ( GSTN ) has made the functionality to input negative values in GST Return GSTR-3B, allowing taxpayers to reflect the correct...

Deceased Assessee’s Unexplained ₹15 Lakh Bank Deposit yielding ₹31 Interest: ITAT Remits for de novo Assessment [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) recently set aside an ex-parte addition ₹15 Lakh held as unexplained Bank Deposit by a deceased assessee, while calling on the Assessing...

ITAT confirms Tax Exemptions for Gujarat Housing Board u/s. 11&12 of the Income Tax Act [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT), confirmed tax exemptions for Gujarat Housing Board Under Sections 11 and 12 of the Income Tax Act,1961 and rejected the Revenue’s...

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