In a ruling in favour of the State Bank of India ( SBI ), the Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has held that no deduction of deduct tax at source
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that loss out born from sale of govt securities by bank is business loss and allowed the income tax deduction is allowable under Section
In a historic decision, a Division Bench of the Uttarakhand High Court has held that no proceedings shall be initiated against purchaser of goods under Section 74 of Goods and Services Tax Act for non-deposit
The two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) directed re adjudication regarding the cash deposited during the demonetisation period under the business of purchases and sale of biscuits and confectioneries.
The Supreme Court, while granting relief to EMBIO Ltd ruled that penalty cannot be imposed under Section 11(2) of the Foreign Trade (Development and Regulation) Act, 1992 for not fulfilling the export obligation. The Section
Pune's GST Intelligence unit has disrupted a multi-state counterfeit input tax credit scheme valued at Rs 145 crore. A significant development, the Pune division of the Directorate General of GST Intelligence ( DGGI ) uncovered
The Delhi High Court clarified that powers under Section 127 of the Income Tax Act, 1961, can be invoked for public interest, administrative convenience, and meaningful assessment. The present writ petitions, at the instance of
The Kerala High Court has ordered an immediate halt to coercive recovery measures by the income tax authorities against the Pallickal Naduvilemuri Service Co-operative Bank Ltd. The ruling comes as a relief to the petitioner
The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ordered a reconsideration, noting substantial evidence indicating that a taxpayer engaged in a money transfer business utilizing platforms such as M-Pesa and
A Chartered Account has syphoned off Rs. 96.88 lakhs from the Santacruz ( West ) housing society’s bank account to her account citing the payment of salary to the staff members. A complaint was registered
A case has been reported in the Police Station of Avadi, Tamil Nadu that a Goods and Services Tax ( GST ) lost around Rs. 39 lakhs in a fake stock trading application. The perpetrators
The Delhi High Court observed that the order freezing bank accounts not to remain in force for more than sixty days from date of order under sub-section (8-A) to Section 132 of the Income Tax
Being registered under the Goods and Services Tax ( GST ) system entails the responsibility of regularly monitoring the GST portal. Upon receiving notices and orders uploaded in the "View Additional Notices and Orders" tab,
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) granted State Bank of India ( SBI ) time to file rejoinder, with Rs. 25,000 cost to be paid to Prime Minister
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that ratification application under section 154 of the Income Tax Act,1961 cannot be termed as time-barred if the taxpayer responded to notice