ITAT Upholds Deletion of Bogus LTCG Addition, Rules No Evidence of Tax Evasion in Share Transactions [Read Order]

The Income Tax Appellate Tribunal (ITAT), Nagpur Bench, has upheld the decision of the Commissioner of Income Tax (Appeals) to delete a ₹5.60 crore addition made under Section 68 of the Income…

Continue ReadingITAT Upholds Deletion of Bogus LTCG Addition, Rules No Evidence of Tax Evasion in Share Transactions [Read Order]

GST Dept Must Grant Time Extension for Submitting Additional Documents When Sought: Madras HC [Read Order]

In a recent ruling, the Madras High Court has held that when a taxpayer requests an extension of time to submit additional documents in response to a show cause notice, the GST…

Continue ReadingGST Dept Must Grant Time Extension for Submitting Additional Documents When Sought: Madras HC [Read Order]

SBI Wins Before CESTAT on Service Tax Demand for Interchange and Free ATM Services: Supreme Court to Hear Related Appeal Together [Read Judgement]

In a recent ruling,the Supreme Court of India, noted State Bank of India (SBI )’s win before Customs,Excise and Service Tax Appellate Tribunal ( CESTAT ) on service tax demand for interchange…

Continue ReadingSBI Wins Before CESTAT on Service Tax Demand for Interchange and Free ATM Services: Supreme Court to Hear Related Appeal Together [Read Judgement]

Revenue cannot ‘Negatively Block’ Tax beyond Extent of GST ITC available in E-Ledger: Supreme Court declines to Interfere with Delhi HC Ruling [Read Order]

Subscribe to our Newsletter The Supreme Court recently reaffirmed a key principle within the Goods and Services Tax (GST) law, refusing to interfere with a Delhi High Court judgment that prohibited the…

Continue ReadingRevenue cannot ‘Negatively Block’ Tax beyond Extent of GST ITC available in E-Ledger: Supreme Court declines to Interfere with Delhi HC Ruling [Read Order]

S. 79 GST Recovery Notice issued to Bank without Prior Notice to Assessee void: Bombay HC [Read Order]

In a significant ruling concerning GST recovery procedures, the Bombay High Court has held that a recovery notice issued under Section 79 of the Central Goods and Services Tax (CGST) Act, 2017,…

Continue ReadingS. 79 GST Recovery Notice issued to Bank without Prior Notice to Assessee void: Bombay HC [Read Order]

From India to the World: UPI goes Global as Namibia Becomes First Foreign Country to Sign Licensing Agreement

India’s Unified Payments Interface ( UPI ) has made big leaps onto the global stage, with Namibia becoming the first foreign country to formally adopt the revolutionary digital payment technology.…

Continue ReadingFrom India to the World: UPI goes Global as Namibia Becomes First Foreign Country to Sign Licensing Agreement