Tax Guru1h
Interest for broken period on securities held as stock is allowable as deduction
Telangana High Court held that interest paid for broken period on securities held as stock-in-trade is allowable as deduction ...
Tax Guru2h
AP VAT Act: Suppression & Wilful Evasion Essential to Invoke Section 21(5), Rules HC
The High Court found that the assessment order did not establish willful suppression of facts, which is a prerequisite for ...
Tax Guru1h
Webinar on Critical Issues in Faceless Assessments under Income Tax Act, 1961
Hari Agarwal, FCA is a highly respected Chartered Accountant with over 35 years of professional experience. His expertise in ...
Tax Guru1h
Service Tax Cannot Be Levied Solely Based on ITR Data: Bombay HC
Bombay High Court, in the case of Amrish Rameshchandra Shah Vs Union of India and others, examined the legality of a service ...
Tax Guru4h
ITAT Ranchi Allows Withdrawal of Appeal Under VSV Scheme
The ITAT dismissed the appeal as withdrawn but clarified that if the assessee is unable to achieve a resolution through the ...
Tax Guru3h
Telangana HC Sets Aside Non-Speaking Income Tax Stay Orders
Telangana High Court set aside two impugned orders rejecting the stay of tax demand for AY 2022-23 in the case of Subodh ...
Tax Guru4h
Income Tax Bill 2025: Key Changes for Chartered Accountants
The Income Tax Bill, 2025 has been introduced in Lok Sabha Today 13.02.2025 Overall, it tries to replace the 1961 Act, which ...
Tax Guru4h
RBI Restricts New India Co-op Bank Operations
The bank can renew existing term deposits upon maturity, ensuring some continuity for depositors with longer-term investments ...
Tax Guru6h
Chhattisgarh HC Directs GST Refund for Pre-GST Contracts
The Chhattisgarh High Court, in B M S Projects v. State of Chhattisgarh, addressed the petitioner’s grievance regarding the ...
Tax Guru2h
Understanding the New HSN Code Reporting Rules for GSTR-1
The government has introduced mandatory reporting of Harmonized System of Nomenclature (HSN) codes in Table-12 of GSTR-1 to enhance tax compliance and ...
Tax Guru2h
CESTAT Imposes Penalty for Misclassification & Duty Evasion despite omission by adjudicating authority
Delhi, addressed the case of Sarvatra International, involving allegations of customs duty evasion through the misclassification of imported goods. The dispute revolved around the classification of ...
Tax Guru1h
CIT(A) Cannot Set Aside Matter Back to AO: ITAT Mumbai
The ITAT, while acknowledging the assessee’s lack of cooperation, found that the CIT (A) had erred in setting aside the assessment. The ITAT cited the precedent set in Arun Kumar Bose vs. ITO; ...