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- Sep 1, 2023
- 3 min
Precision in Valuation: ITAT Scrutinizes Off-Market Share Transaction and Overturns Addition
ITAT-Delhi rules on Trak Services' LTCG, emphasizing the sanctity of contract prices over market rates in share transfer disputes.
- Aug 17, 2023
- 4 min
DLF Homes Panchkula Pvt. Ltd. v. Additional Commissioner of Income Tax
In the case of DLF Homes Panchkula (P) Ltd. v. Additional Commissioner of Income Tax (‘CIT’) & Anr. (supra) (DELHI HIGH COURT – SCC...
- Jul 31, 2023
- 3 min
[SC] Person Summoned Under S. 69 of the CGST Act Cannot Seek Anticipatory Bail Under S. 438 of CrPC
India's Supreme Court clarifies that CGST Act summonses exclude anticipatory bail under CrPC.
- Jul 29, 2023
- 3 min
The Andhra Pradesh High Court Upholds the Constitutional Validity of S. 16(4) of the CGST Act
Introduction The Andhra Pradesh High Court (‘Court’), in the case of Thirumalakonda Plywoods v. Assistant Commissioner,[i] examined the...
- Jul 28, 2023
- 2 min
CBIC Guidelines for Dealing with Input Tax Credit Discrepancies
The Central Board of Indirect Taxes and Customs (‘CBIC’) has recently issued a significant circular numbered 193/05/2023-GST on July 17,...
- Jul 20, 2023
- 2 min
Bogus Purchases: Bombay HC Limits IT Addition [Ashwin Purshotam Bajaj]
[Bombay HC] – Only a profit element can be added in respect of bogus purchases under Section 69 of the Income Tax Act, 1961 when the...
- Jul 12, 2023
- 4 min
GST Council recommends 28% GST on online gaming
The Goods and Services Tax Council ('GST Council'), in its 50th meeting held on 11th July 2023, has recommended the levy of 28% GST on...
- Jul 3, 2023
- 3 min
[CESTAT] Adjudication liable to be set aside if cross-examination not granted
Customs, Excise and Service Tax Appellate Tribunal, Ahmedabad (‘CESTAT’), recently passed an order in the case of Indu Oversea Private...