The Tribunal observed that ₹99.10 lakh allegedly added as unexplained credits may represent earlier year balances. The matter was remanded for verification to avoid wrongful taxation in the current ...

The Draft Income Tax Rules 2026 offer a number of welcome benefits and procedural clarity for taxpayers. These draft rules ...

The RBI has introduced a consolidated framework covering acquisition finance, loans against securities and CMI lending. The ...

Penalty was imposed alleging misreporting due to belated PF/ESI remittance. The Tribunal ruled that a disclosed claim later disallowed does not fall under any clause of Section 270A(9), and deleted ...

One of the main ways the government raises money is through taxes, which also have a big impact on a nation's economic growth. In India, public welfare initiatives including infrastructure development ...

The Court held that bona fide purchasers cannot be denied ITC merely because the supplier failed to deposit GST, applying the reading down principle to Section ...

The Tribunal upheld penalty for non-filing of return under Explanation 3 but ruled that computation must reduce TDS and self-assessment tax paid before notice. Penalty was reduced from Rs. 8.56 lakh ...

The High Court ruled that mud engineering services and related chemicals supplied under a drilling contract are naturally bundled and constitute a composite supply under GST. Separate invoicing does ...

High Court held that compensation received for termination of trademark rights in AY 1997-98 was a capital receipt. Since Section 28(va) was inserted prospectively from 01.04.2003, it could not apply ...

The High Court granted a post-decisional hearing after finding that a proper Chartered Accountant’s certificate with UDIN was not filed before the appellate authority. The matter was remanded for ...

ITAT held that once identity, genuineness and creditworthiness of the loan creditor were established, addition under Section 69 was unsustainable. The creditors disclosure before the Settlement ...

The High Court denied bail, holding that serious allegations of loan diversion through shell entities were supported by bank records and witness statements. The petitioner failed to satisfy the twin ...