Tax Guru54m
ICAI President’s Message – April 2025
Following the introduction of the Income Tax Bill 2025 in Parliament, ICAI has expressed its strong support for the proposed ...
Tax Guru1h
Failure to participate in appellate proceeding due to justifiable reasons: Matter restored
ITAT Raipur held that there were justifiable reasons for the assessee firm of having remained unaware about the on-going ...
Tax Guru2h
New Income Tax Rules on Sale of Gold ETF & Gold Mutual Funds
Following Budget 2024, the long-term capital gains on domestic and foreign equity funds/ETFs/FOFs were to be taxed at 12.5%.
Tax Guru2h
Jharkhand HC Quashes GST Orders for Violating Due Process & imposes Cost
Jharkhand High Court ruled that tax authorities must follow the due process before passing adjudication orders under the ...
Tax Guru4h
Rejection of application for registration u/s. 10(23C) for acts not yet undertaken is not justifiable
ITAT Nagpur held that rejecting application for registration u/s. 10 (23C) of the Income Tax Act for the acts which have not ...
Tax Guru54m
IBBI Suspends IP: Anil Mehta Misconduct Order
Disciplinary Committee (DC) suspended Insolvency Professional Anil Mehta for three months due to misconduct during the liquidation of Pratibha Industries Limited. The investigation revealed that Mehta ...
Tax Guru1h
Refund of excess duty allowed as Bill of Entry was filed belatedly due to system error
CESTAT Chennai held that refund of excess duty paid is allowable since delay in filing of bill of entry was on account of system error. Thus, appeal of revenue dismissed and refund granted by lower ...
Tax Guru1h
Passing of order u/s. 148A(d) without granting adjournment for furnishing reply is untenable
Gujarat High Court held that passing of order u/s. 148A (d) of the Income Tax Act without considering reply filed by the petitioner by not granting adjournment time as prescribed u/s. 148A (b). Thus, ...
Opinion
Tax Guru1hOpinion
Arrest Memo Cannot be Construed as Grounds of Arrest: SC
By the way, we need to note that this leading case originated from the arrest of Ashish Kakkar in December 2024 in connection with a First Information Report (FIR) that had been registered under ...
Tax Guru1h
Revision u/s. 263 not tenable when AO has taken plausible view: ITAT Delhi
ITAT Delhi held that revision under section 263 of the Income Tax Act not tenable as PCIT failed to specify definite error in the order and also AO has made proper inquiry and has taken plausible view ...
Tax Guru2h
CIT(A) cannot vacate addition based on additional evidence without confronting AO
ITAT Raipur held that vacating addition/ disallowances by CIT (A) based on additional documentary evidences filed before him without confronting AO is against the provisions of rule 46A of the Income ...
Tax Guru1h
GST on Branch Transfers in the Textile Industry: Issues and Solutions
The implementation of GST in India has significantly impacted branch transfers within the textile industry, where the movement of goods between units with separate GSTINs (even under the same PAN) is ...