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Aug 20, 20244 min read
Finance Act 2024: Insertion of S. 74A into the CGST Act, 2017, for Streamlining the Issuance of Demand Notices under GST
New s. 74A in the CGST Act consolidates GST recovery, removing the distinction between fraud and non-fraud cases from FY 2024-25.
Aug 19, 20244 min read
[Delhi HC] Settlement for Dispute Regarding Sweat Equity Shares Taxable as Long-term Capital Gains, Not Salary
Delhi HC rules settlement from sweat equity share disputes as capital gains, not salary.
Aug 19, 20243 min read
Maharashtra GST Department Issues Guidelines for Recovery of Dues Following First Appeal Disposal Â
Maharashtra GST outlines new recovery guidelines post-first appeal, ensuring taxpayer compliance and easing legal burdens.
Aug 14, 202412 min read
Reconciling Rights with Enforcement: Analyzing the Evidentiary Value of Statements Recorded under the CGST & Customs Acts
Exploring how statements under CGST & Customs Acts challenge self-incrimination rights.
Aug 12, 20243 min read
Exclusion of VAT from Taxable Turnover: Supreme Court Clarifies ‘Purchase Price’
Supreme Court's verdict reinforces the strict interpretation of tax laws, excluding VAT from ‘purchase price’ in GVAT Act calculations.
Aug 10, 20244 min read
Revaluation of Assets as Capital Gains: ITAT Rules that Asset Revaluation Constitutes Transfer ‘Otherwise’ Under S. 45(4) of the ITA
ITAT Hyderabad clarifies that crediting revalued assets to partner accounts triggers capital gains under ITA's s. 45(4).
Aug 10, 20243 min read
Natural Justice and Procedural Compliance in GST Adjudication: A Judicial Interpretation by Allahabad HC
An analysis of how courts address natural justice and procedural compliance in GST cases, highlighting key taxpayer obligations and remedies
Aug 9, 20243 min read
Bombay High Court Invalidates Reassessment for Non-Compliance with S. 151A: A Critical Review of Procedural Errors in Tax Notices
Ruling quashes tax reassessment due to flawed procedural compliance, underscoring legal adherence necessities.
Aug 9, 20248 min read
Madras High Court: Discretionary ESOP Compensation is Taxable as Perquisite
Madras High Court rules that one-time discretionary compensation for loss in future accretion with respect to ESOPs is taxable as perquisite
Aug 7, 20244 min read
[ITAT] Cash Transactions in Property Sales: Section 271D Penalty Unwarranted, Section 269ST Applies
ITAT finds no penalty warranted under s. 271D for cash transactions in property sales, highlighting the relevance of s. 269ST instead.
Aug 3, 20243 min read
[ITAT] Tax Exemption on Mutuality Grounds Not Applicable to Advocates Welfare Fund
ITAT holds: Advocates Welfare Fund fails to meet mutuality criteria, disqualifying it from tax exemptions under the Income Tax Act, 1961.
Aug 1, 20245 min read
Vivad se Vishwas Scheme, 2024: Key Highlights
Resolve tax disputes with the 2024 Scheme, ensuring efficient settlement and full immunity from penalties.
Aug 1, 20243 min read
GST Penalty Case Overturned: Calcutta High Court’s Directive Based on New Information
Calcutta High Court remands GST penalty after new IOCL evidence, questioning the use of Goa's advance ruling in West Bengal.
Aug 1, 20244 min read
Navigating Notional Losses: Punjab & Haryana High Court Clarifies Rules on Carry Forward of Business Losses
The Punjab & Haryana High Court clarifies the treatment of notional losses, allowing the carry forward of losses due to market fluctuations.
Jul 31, 20246 min read
Kerala High Court Upholds Levy of GST on Services by Associations/Clubs to Its Members; However, with Prospective Effect
Kerala HC rules GST on club services to members is valid but only applies prospectively.
Jul 30, 20244 min read
De Beers Consolidated Mines v. Howe: A Landmark Judgment Where Central Management Outweighed Location for Taxation Purposes
House of Lords rules: Company's tax residency determined by central management, not incorporation.
Jul 29, 20243 min read
[ITAT – Jaipur] Deletes Additions Made on the Basis of Loose Sheets in the Absence of Corroborative Evidence
ITAT rules against uncorroborated tax additions, emphasising the need for evidence and procedural fairness.
Jul 29, 20243 min read
[High Court – Rajasthan] No Restriction on Filing Advance Ruling Applications for Persons Liable to Pay Tax on Reverse Charge Basis under the CGST Act
Rajasthan High Court affirms that reverse charge taxpayers can seek CGST advance rulings, broadening applicant definitions.
Jul 26, 20244 min read
Rule of Law v. Rule of Men: Chhattisgarh HC Sets Aside Reassessment Orders Due to Influence of Superior Authorities
Chhattisgarh HC rules in favor of assessee; reassessment influenced by superiors invalid.
Jul 26, 20243 min read
Mandatory Notice in GST Adjudications: Madras High Court Clarifies ASMT-10 Requirement
Madras HC rules on the essential use of ASMT-10 in GST disputes, enhancing procedural fairness.