Nowadays it is in highlight, in GST the main issue faced by taxpayer is the dispute that is emerging under GST which pertains to denial of ITC to a purchaser due to non-compliance by the supplier. Now ...

Accurate classification of materials and inventory is central to transparent financial reporting, particularly under the ...

Input Tax Credit (ITC) is one of the core features of the Goods and Services Tax (GST) system in India. It allows registered taxpayers to reduce their tax liability by claiming credit for the GST paid ...

13. The Hon’ble Apex Court in the case of Suncraft Energy (supra) had occasioned to consider that the party who has paid the tax on invoices being raised and non-discharge of duties by the counterpart ...

The Income Tax Appellate Tribunal (ITAT) Amritsar has deleted an addition of Rs. 4.72 lakh made to the income of senior citizen Balbir Kaur for Assessment Year 2012-13. The addition stemmed from a ...

Hence, if a bank had earlier routed BDDR through reserves, no deduction would be allowed under income tax. Now, with RBI mandating P&L routing, co-operative banks can rightfully claim tax deduction, ...

RBI Governor Sh. Sanjay Malhotra announced RBI monetary policy on 6 th June 2025: The various decisions taken in the meeting of Monetary Policy Committee are as follows. (RBI Monetary Policy- ...

Key concern in this case was whether reassessment initiated by AO u/s. 148 of IT Act, 1961 for AY 2012–13 was lawful. This action was based solely on a report from Assistant Director of Income Tax ...

Traces has recognised that the issue is a recurring issue, the TRACES portal (TDS Reconciliation Analysis and Correction Enabling System) has introduced a refund mechanism in respect of such ...

The Banking Laws (Amendment) Act, 2025 promises more options for depositors with new nomination rules. But unless important legal and practical issues are resolved, these well-meaning reforms might ...

The case, which travelled through various judicial levels, centred on the novel legal question of whether a human organ, specifically the heart, could be considered a ‘plant’ under the Income Tax Act, ...

1. The petitioner would submit that with the assistance rendered by the good office of the learned Additional Government Pleader, Mr. Siddiqui, the petitioner could ultimately file the appeal under ...