2026 – Page 44 – smeaccountant

Navigating Agricultural Land Capital Gains Tax: ITAT Clarifies Section 54B Exemption Requirements

The Income Tax Appellate Tribunal (ITAT) in Nagpur has recently ruled that claiming exemption under Section 54B of the Income Tax Act, which relates to capital gains from the sale…

Prasenjit Bhowmik May 20, 2026

Taxation and Legal Insights

CESTAT Rules CENVAT Credit Applicable on GTA Services for FOR Destination Sales

The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Chennai bench, recently ruled that CENVAT credit is admissible on Goods Transport Agency (GTA) services when goods are sold on a…

Prasenjit Bhowmik May 20, 2026

Taxation and Legal Insights

CESTAT Grants Reassessment for Excess CVD Refund on Gold Jewellery Classification Errors

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) in Chennai has ruled that reassessment of import documents is permissible to correct errors leading to excess payment of Countervailing Duty…

Prasenjit Bhowmik May 20, 2026

Taxation and Legal Insights

Latest GST Case Laws: Legislative Fix in Motion to Address Composite SCN Issue

Introduction to GST and the Importance of Case Laws The Goods and Services Tax (GST) is a significant achievement in the realm of tax reform in India, implemented with the…

Prasenjit Bhowmik April 29, 2026

Blog

New GSTN Advisory on GSTR-3B Interest Re-computation

The Goods and Services Tax Network recently issued a significant advisory regarding the re-computation of interest for taxpayers filing GSTR-3B under Table 5.1. This development comes as a major relief…

Prasenjit Bhowmik April 18, 2026

Blog

Taxpayer’s Selection of ‘No’ for a Personal Hearing Cannot Override the Statutory Requirement of Granting a Hearing: High Court

The judiciary has recently delivered a pivotal clarification regarding the rights of taxpayers under the GST regime. The High Court ruled that selecting the 'No' option for a personal hearing…

Prasenjit Bhowmik April 17, 2026

Blog

GST Authorities Cannot Combine Company and Director Liability: Court Orders Separate Proceedings

In a landmark ruling, the High Court has clarified that GST authorities cannot issue a single, composite liability order against both a company and its director. This decision emphasizes that…

Prasenjit Bhowmik April 17, 2026

Blog

🚨 Major Update: Decoding the 12% Surcharge on Promoter Buybacks | Finance Bill 2026

The Lok Sabha has officially passed the Finance Bill, 2026, introducing landmark changes to the taxation of share buybacks. If you are a Company Promoter or a High-Net-Worth Investor, this…

Prasenjit Bhowmik March 27, 2026

Blog

Key Income Tax Changes in India for 2026

India’s income tax framework is undergoing significant changes this March, with crucial deadlines converging and the new Income Tax Act, 2025 set to take effect from April 1, 2026. Taxpayers,…

Prasenjit Bhowmik March 15, 2026

Our Stories

The Story Behind SRK Analytics & Consulting Private Limited

🌱 Early Roots in Tripura The journey of Prasenjit Bhowmik, founder of SRK Analytics & Consulting Private Limited, begins in Agartala, Tripura, where he completed his B.Com graduation in 2007…

Prasenjit Bhowmik March 8, 2026