Rule 86B imposes restrictions on the use of the Input Tax Credit (ITC) for discharging GST liability. It mandates that taxpayers must use a minimum of 1% of their tax liability to be paid in cash, ...

Analysis of the New Income Tax Act 2025 highlights omissions: problematic TDS on partner income, retention of harsh assessment clauses, and lack of clarity on grievance and appeal ...

The balance tax demand was also paid. Later, the Revisional Authority issued a notice under Section 64, claiming the appellate order was prejudicial to revenue. Assessee objected, stating that once ...

Orissa High Court held that writ against blocking of Input Tax Credit [ITC] under rule 86A of the Central Goods and Services Tax Rules [CGST Rules] not entertained as reply of the petitioner is ...

Delhi High Court held that fine imposed for non-furnishing of financial documents on directors of the company is justifiable, however, compounding fine amount reduced from Rs. 1.50 Lakhs to Rs. 1 ...

Assessee-trust registered under Sections 12A and 80G had filed its return of income for (AY) 2017-18 declaring nil income. The return was processed under Section 143(1), and the case was selected for ...

Assessee claimed deduction under section 54F on the basis that the long-term capital gain earned from the transfer of tenancy/possessory rights was invested for the purchase of a residential ...

Supreme Court rules criminal complaints can be amended post-cognizance if evidence is incomplete and no prejudice occurs, overturning a High Court ...

Depreciation claim under Section 32 was allowable on actual cost of assets which the assessee paid to the erstwhile partners for taking over from a dissolved firm. It did not matter if the partners ...

CBDT modifies Rule 21AK under Income-tax Rules, 1962 to include over-the-counter derivatives and clarify the role of Foreign Portfolio ...

The (KSCAA) has submitted a representation to the Ministry of Corporate Affairs (MCA) Secretary, Shri Manoj Govil, outlining ...

CBDT permits processing of electronically filed ITRs wrongly invalidated by CPC, with intimation due by March 2026, subject to PAN-Aadhaar ...