The Income Tax Appellate Tribunal (ITAT), Cochin Bench, has set aside a penalty of ₹20 lakh levied under Section 271D of the Income Tax Act, 1961, in a property transaction case,…
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the addition of Rs. 84,79,100 after rejecting the assessee’s claim of long-term capital gains (LTCG) on penny stock transactions, holding that…
The Karnataka High Court has recently clarified that the absence of a reply to a show-cause notice (SCN) cannot by itself justify an adverse adjudication order if all relevant records are already available with…
The Supreme Court of India has rejected the Revenue Department’s review petition against a Delhi High Court order that termed the seizure of cash from a trader’s residence as unlawful. A bench comprising Chief…
In the Independence Day speech this year, Prime Minister Narendra Modi spoke about a major revision of the Goods and Services Tax (GST), often called GST 2.0. One of the big proposals…
The Bombay High Court has dismissed a writ petition challenging the constitutional validity of Sections 17(2) and 17(3) of the Central Goods and Services Tax (CGST) Act, 2017, in the context of…
In a recent ruling, the Kerala High Court held that Input Tax Credit (ITC) available in the electronic credit ledger can be used across CGST, SGST, and IGST liabilities, with IGST credit…
The Finance Minister, Finance Secretary, CBIC Chairman, and other Council members will gather again for a two-day GST Council meeting on September 3- 4, 2025, following a break since its 55th…
In a recent ruling, the Delhi High Court held that health grounds alone cannot justify bail in serious money laundering cases under the Prevention of Money Laundering Act, 2002. Arvind Dham, the…
In a recent ruling, the Supreme Court dismissed an appeal filed by New Delhi–based NGO Infrastructure Watchdog against the Securities and Exchange Board of India (SEBI) in connection with the Rs. 560-crore…