In a ruling in favour of the assessee, the Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) set aside the Commissioner of Income Tax (Appeals)'s order, holding that the addition of…
Notebook manufacturers across India have expressed concerns over growing production costs following the recent changes effectuated to the Goods and Services Tax (GST) rates changes that placed notebooks and exercise books under…
In a dispute over the quantum of deduction under Section 54 of the Income Tax Act, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed the Revenue’s appeal challenging the…
“Bail is a rule and bail rejection is an exception”, said the Allahabad High Court while granting bail to an accused in a ₹185 crore fake Input Tax Credit ( ITC ) case…
The Supreme Court of India is set to examine whether the value of preloaded software in imported navigation devices should be included in the customs valuation as part of the…
The Allahabad High Court ruled that the mere expiry of a GST ( Goods and Services Tax ) e-way bill does not indicate an intention to evade tax, thereby setting…
Subscribe to our Newsletter The Allahabad High Court recently refused to grant bail to an accused who was allegedly involved in fraudulent financial transactions carried out using fake GST (…
The Supreme Court of India recently upheld a ruling by the Delhi High Court wherein it was affirmed that book entries reflecting unverified bank overdrafts did not constitute genuine income…
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled in favour of the assessee, deleting a penalty of ₹5,000 under Section 271F of the Income Tax Act as the…
The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that when goods are sold on a Free on Road (FOR) basis, the buyer’s premises is treated as…