Insights & Resources

The Karnataka High Court voided GST proceedings, citing jurisdictional lapses and improper officer actions, reinforcing procedural integrity

ITAT rules Bitcoin gains as capital assets, taxable under capital gains, not other income, pre-A.Y. 2022-23.

CBDT amends 2024 Safe Harbour Rules, extending coverage for foreign companies selling raw diamonds in Special Notified Zones.

Delhi High Court upholds taxpayer rights under the DTVSV Act, clarifying the autonomy to settle specific disputes without Revenue compulsion

Tax amnesty schemes address tax evasion by resolving disputes, boosting compliance, and generating revenue while balancing fairness.

Delhi HC clarifies interplay between ss. 153C and 147, ensuring reassessment integrity while balancing procedural and jurisdictional powers.

ITAT highlights the importance of evidence over procedural lapses, clarifying the Assessing Officer's duty under s. 68 of the Income-Tax Act

The Bombay High Court ruled that broken period interest and debenture issuance expenses qualify as deductible business expenditure.

The ITAT reviews the deductibility of losses on inter-corporate deposits, emphasising statutory compliance and evidentiary support.

The ITAT Special Bench clarifies that HO-PE transactions are subject to arm's length pricing under TP laws, ensuring compliance.

Delhi HC confirms JAO's authority to issue reassessment notices under s. 148 despite the adoption of the Faceless Reassessment Scheme.

The Delhi HC invalidated reassessment notices under s.148, citing a lack of fresh evidence and reiterating fairness in tax governance.

The ITAT clarifies that partnership-to-company conversions are tax-neutral under Section 47(xiii) if statutory conditions are fully met.

ITAT Mumbai quashes reassessment based on incorrect facts, underscoring legal standards for tangible evidence under the IT Act.

CBIC clarifies Section 128A of the CGST Act, detailing waiver eligibility, procedures, and guidelines for resolving tax demands efficiently.

The Kerala High Court invalidated GST Rule 96(10), which protected exporters' rights to IGST refunds on zero-rated supplies and en fairness.

CBIC clarifies 'as is, where is basis' for GST rate regularisation, offering relief to taxpayers while ensuring fairness in compliance.

CBIC clarifies GST on services like education, transport, utilities; streamlines compliance, reduces ambiguities, and regularises payments.

The Supreme Court's ruling resolves the interplay between TOLA, FA21, and the IT Act, clarifying reassessment timelines and procedures.

The ITAT ruled that the CBDT Circular is prospective, rejecting Revenue’s bid for retrospective application in cases predating its issuance