The Tribunal held that failure to provide opportunity to cross-examine foreign information sources amounted to violation of ...

A practical guide to ensuring Bill of Entry data flows correctly from ICEGATE to GSTR-2B. Proper verification prevents ITC ...

The new framework mandates that proceedings under Section 74A must be initiated by officers formally designated through ...

Pursuant to High Court observations and fresh investigation, GSTAT held that the developer did not gain additional ITC benefit warranting price ...

IRS Publication 523 allows taxpayers to exclude up to 500,000 of gain if ownership and residence tests are met. The article ...

Guwahati High Court held that the Summary of the Show Cause Notice in GST DRC-01 is not a substitute to the Show Cause Notice ...

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 Tribunal held that reopening based solely on investigation wing information without independent application of mind is invalid. Mechanical reasons cannot justify reassessment under Section ...

ITAT held that approval by the Principal Commissioner was invalid where more than three years had elapsed from the assessment year. Since Section 151(ii) required sanction from PCCIT/CCIT, the ...

The ITAT reaffirmed that Section 2(22)(e) cannot extend the definition of shareholder to a concern receiving the loan. The deemed dividend, if attracted, must be taxed in the hands of the substantial ...

The Tribunal ruled that undated, unsigned loose sheets lacking independent evidence cannot justify additions under Section 153A. Relying on Supreme Court precedent, it deleted additions exceeding ...

The Tribunal found that the investors had substantial net worth far exceeding their investments. With PAN, ITRs, bank statements, and audited financials on record, the share capital could not be ...