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

Avinash Kurungot

The Pazhampori is Malayalis’ much adored contribution to the world. A sweet snack made of ripe banana slices immersed in a flour-batter and deep...

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]

Registration of Proprietary Firm to Evade Tax , Advocate not Liable to Verify Fake Documents...

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

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...

ITAT Directs Reassessment of Ex-Parte Dismissal u/s 250 of Income Tax Act: Criticizes Negligence of Non-Compliance of Taxpayers [Read Order]

In a recent case, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) set aside an order passed by the Commissioner of Income Tax (Appeals) [ CIT(A) ], National Faceless Appeal Centre (...

CBDT Circular provides Time Extension for Approval of Fund u/s 80G: ITAT Restores matter to CIT(E) [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) recently granted relief to an Appellant, approving the delay in application for approval of fund from the date of commencement of...

Trader Sold Opening Stock at Discounted Rates leading to Higher Sales compared to Previous Years: ITAT deletes 32 Lakh Addition [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition of Rs. 32 lakhs made by the Assessing Officer ( AO ), citing the assessee’s higher sales as a result of the...

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