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CBDT introduces revised Form ITR-U allowing taxpayers to update returns within 48 months with structured format for disclosing additional income and calculating extra tax liability
The Hon'ble Central Board of Direct Taxes (CBDT) vide Notification No. 49/2025 dated May 19, 2025, has amended the Income-tax Rules, 1962...
May 20, 2025
ITAT Mumbai rules investors can set off STT-paid losses (15% tax bracket) against non-STT gains (30% tax bracket), providing greater tax optimization flexibility under Section 70(2) of Income Tax Act
The Hon'ble ITAT Mumbai Bench 'I' in Eastspring Investments India Equity Open Ltd. vs. Deputy Commissioner of Income-tax (IT) [IT Appeal...
May 20, 2025
E-Way Bill Part B Missing? No Penalty Without Proof of Tax Evasion, Rules Allahabad HC
The Hon'ble High Court of Allahabad in Fiserv Merchant Solutions (P.) Ltd. v. State of UP, WRIT TAX NO. 1774 OF 2025 dated April 30, 2025...
May 19, 2025
Fire Destroyed Your Inventory? GST Input Credit Must Be Reversed, Rules Telangana AAAR
The Hon'ble Appellate Authority for Advance Ruling, Telangana in Geekay Wires Ltd., In re, AAAR. COM/03/2023, ORDER-IN-APPEAL NO. AAAR/05...
May 16, 2025
Voluntary GST Reversal Protected: Gujarat HC Rules Against Double Recovery of Input Tax Credit
The Hon'ble High Court of Gujarat in Ajay Industries v. Union of India, R/SPECIAL CIVIL APPLICATION NO. 2951 OF 2025 dated April 16, 2025...
May 15, 2025
No Exceptions: You Must Pay 10% Deposit for GST Appeals, Delhi High Court Rules
The Hon'ble High Court of Delhi in M/s Impressive Data Services Private Limited v. Commissioner (Appeals-I), Central Tax GST, Delhi,...
May 10, 2025
Tax Inspector Caught Tampering Documents: Patna High Court Cancels 88 Lakh GST Demand
The Hon'ble High Court of Judicature at Patna in M/s Sri Sai Food Grain and Iron Stors v. The State of Bihar and Others Civil Writ...
May 5, 2025
Factory Canteens Get GST Relief: Credit Allowed for Legally Mandated Employee Meals
The Hon'ble Authority for Advance Ruling, Gujarat in Amneal Pharmaceuticals (P.) Ltd., In re (GUJ/GAAR/R/2025/07, Advance Ruling/SGST &...
May 5, 2025
Delhi HC Rules: Tax Dept Can't Hold Your GST Refund Just Because They 'Plan' to Appeal
The Hon'ble High Court of Delhi in Truth Fashion v. Commissioner of DGST Delhi (W.P.(C) 486 of 2025, decided on February 10, 2025) held...
May 2, 2025
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