Loss of ₹7.66 Crore was allowable as bad debt deduction under Section 36(1)(vii), recognising the loss as a genuine business ...

Andhra Pradesh High Court set aside a GST cancellation order, ruling that retrospective cancellation date was invalid as show ...

CESTAT Chennai held that ‘wheel loaders’ are classifiable as ‘front-end shovel loaders’ and hence are covered under Customs Tariff Heading 8429 5100. However, demand for only normal period is ...

Tribunal held that filing of Form 10B is a procedural requirement, not a mandatory condition for exemption under Section 11, allowing relief to a charitable trust despite a four-day delay in uploading ...

Punjab and Haryana High Court dismissed the Revenue's appeals challenging the allowance of investment deduction under Section 32A for AY 1984-86. The court noted the tax effect was below the CBDT's ...

The ITAT Ahmedabad sent back a case involving an addition of Rs.1.17 crore for unexplained cash deposits to the AO. The remand was necessary because the CIT(A) issued an ex-parte order without ...

Court held that assignment of leasehold rights amounts to transfer of immovable property and not supply of service, thereby exempting it from GST ...

ITAT ruled that the appeal dismissal by the CIT(A) without adjudicating merits violated natural justice. The Tribunal directed a fresh review, emphasizing that taxing gross receipts without allowing ...

The Delhi High Court overturned a ₹19.79 lakh ex-parte GST assessment order, directing the Adjudicating Authority to rehear the case on merits. The ruling mandates that the Petitioner deposit the tax ...

ITAT allowed taxpayer's appeal, holding AO erred by applying Section 50C to cash compensation received for extinguishment of a right to receive flats instead of an actual transfer of immovable ...

IFSCA proposes 2025 Pension Fund Regulations to create a regulated retirement savings framework for NRIs and foreign citizens ...

IFSCA releases proposed Pension Fund Regulations 2025 for GIFT-IFSC, aiming to create a global forex pension hub for NRIs and ...