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High Court Overturns GST Demand Order Over Procedural Failures
High Court overturns a GST demand order, emphasizing the need for tax authorities to reconcile transitional credit claims with GSTR-2A data.
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ITAT Ruling Clarifies Bona Fide Intent in Black Money Act Compliance
Discover how an ITAT ruling clarified bona fide intent, deleting a Black Money Act penalty for an omission to report foreign investments.
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ITAT Quashes Section 153A Assessment as AY 2010-11 Fell Outside Ten-Year Block Period
Discover why the ITAT quashed a Section 153A assessment for AY 2010-11, ruling it fell outside the ten-year block period.
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Tax Audit Changes: Clause 47 Targets Unquoted Share Transactions
In a significant shift for corporate tax compliance, tax auditors are now required to report all purchases and sales of unquoted shares under Clause 47 of Form 3CD. This regulatory…
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ITAT Ruling Provides Crucial Relief for Trusts Facing Section 11(2) Exemption Denials
A New Procedural Path for Charitable TrustsThe Income Tax Appellate Tribunal (ITAT) recently issued a landmark ruling providing a procedural lifeline to charitable trusts that have failed to file Form…
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ITAT Pune Quashes Reassessment Order Over Cooling-Off Period Violation
ITAT Pune invalidates a reassessment order, reinforcing taxpayer rights and strict procedural compliance regarding the cooling-off period.