News

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Adverse Income Tax Orders: Implications and Penalties
On top of the higher tax rate, the department can levy penalties under Section 270A and Section 271AAC. These are calculated ...
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SEBI Seeks Input on QIP Document Simplification
The consultation highlights that current QIP documentation, as outlined in Schedule VII of the SEBI ICDR Regulations, ...
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Sikkim GST Registration: Biometric Aadhaar Authentication & Document Verification
Applicants receiving the GSK appointment link must use it to book a visit for biometric-based Aadhaar authentication and ...
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Judicial Discipline under Indirect Taxes – Obligatory or Arbitrary?
In simple words, judicial discipline means, the lower authorities following the decisions of the higher authorities. In the ...
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ITAT Sets Aside CIT(A) Order on Cash Deposits, Directs Fresh Review with AO Input
These appeals filed by the Revenue are directed against the orders of the National Faceless Appeal Centre, Delhi [CIT (A)], dated 20.07.2023 & 25.07.2023 for Assessment Years (AY) 2014-15 & 2013-14, ...
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Tax Loss Cannot Be Reduced by Unserved Section 143(1) Intimation: ITAT Ahmedabad
Ahmedabad: In a ruling favouring the assessee, the Income Tax Appellate Tribunal (ITAT) Ahmedabad bench has held that the tax department cannot reduce a declared loss based on an intimation under ...
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GST Order Passed Without Notice to Be Treated as Notice: Allahabad HC
The Allahabad High Court addressed a petition filed by Pawan Kumar Jain and Company, challenging an appellate order that upheld a GST assessment order passed under Section 73 of the GST Act. The ...
Tax Guru1h
Food Sales at PVR Counters Not Services, Taxable Only in Gold Class
The case involved PVR Limited challenging demands for service tax on food and beverage sales within its cinema premises for the period spanning 2015-16 to June 2017. The central question before the ...
Tax Guru1h
ITAT Confirms Section 69 ₹4.1 Crore Addition for Unexplained Investment
This appeal by the assessee emanates from the order passed under section 250 of the Income-tax Act, 1961 (in short, ‘the Act’) dated 16.02.2024 by the Commissioner of Income Tax (Appeals), National ...
Tax Guru1h
Business Expenditure for Group Investments Allowable Even Without Income: ITAT Delhi
The appeal challenged the order of the Commissioner of Income Tax (Appeals) [CIT (A)], which had largely upheld the disallowances made by the Deputy Commissioner of Income Tax (DCIT) during the ...
Tax Guru1h
Allahabad HC Stays GST Recovery for Power Utilities
Kanpur Electricity Supply Company Limited Vs Union of India and 4 others (Allahabad High Court) The Allahabad High Court heard a petition filed by Kanpur Electricity Supply Compan ...
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Allahabad HC denies Bail in Fake GST Case: Co-Accused Confession Relevant
Prayagraj: The Allahabad High Court has rejected the bail applications filed by Kunal Mehta, also known as Goldee, in connection with cases involving the registration of fake GST firms. The court ...