The growing dispute over denial of Input Tax Credit due to supplier non-payment of tax has now reached the Supreme Court. The issue centres on whether bona fide buyers can lose ITC despite genuine ...

The guide explains that many income tax notices are generated automatically due to mismatches, filing errors, or compliance ...

Mumbai ITAT held that disallowance under Section 40(a)(ia) cannot be made where expenditure remains part of work-in-progress and is not claimed in the profit and loss account. The Tribunal upheld ...

The Tribunal ruled that once transfer was held to have occurred in 1993 through the sale agreement, the Assessing Officer could not tax capital gains in Assessment Year ...

The Tribunal noted that an adjustment under Section 35(1)(iv), already dropped during CPC processing, was later included in assessment computation without fresh notice to the ...

The Court ruled that absence of quantified interest and penalty in a GST show cause notice does not by itself invalidate proceedings under the CGST Act. Taxpayers were directed to pursue the statutory ...

Gujarat High Court observed that additions in bogus purchase cases should be confined to the income component embedded in such transactions rather than the entire purchase ...

Patna High Court held that denial of personal hearing after the taxpayer specifically requested it in writing violated Section 75(4) of the BGST Act and principles of natural ...

The Tribunal rejected the Department’s argument that BSNL VRS payments were only voluntary retirement benefits. It held that the compensation fell within Section 10(10B) as retrenchment ...

Chennai ITAT held that variations between Insight Portal data and GSTR-2A could not automatically establish unexplained expenditure under Section 69C. The Tribunal ruled that no addition could be ...

The next phase of GST administration focuses on system validations, invoice matching and data analytics instead of traditional manual assessments. Companies with weak reconciliation and compliance ...

The Tribunal held that levy of penalty under Section 271(1)(c) was not justified in a case involving deemed rental income addition. It observed that the legal position on the issue was debatable ...