The case explains the statutory framework governing appeals and revisions under the Income-tax Act. It highlights the role of ...

The framework clarifies that advance tax becomes mandatory when estimated liability exceeds ₹10,000, with specific exemptions for certain taxpayers. It outlines computation, payment schedules, and ...

The framework clarifies that refunds can be claimed only through valid ITR filing and mandatory verification. It emphasizes ...

CESTAT Delhi held that duty recovery under section 28AAA of the Customs Act justifiable since IT services fraudulently mis-declared as ‘Management Consulting Services’ to obtain benefits under Service ...

The Tribunal held that the higher 60% tax rate under Section 115BBE cannot apply to transactions prior to 01.04.2017. It directed application of 30%, reinforcing that amendments apply ...

The CBDT framework explains standardized rules for income computation under ICDS. It ensures consistency in tax reporting and reduces disputes in applying accounting ...

Income without satisfactory explanation is taxed at a special high rate under Section 115BBE. The provisions place strict ...

The new regime offers a concessional 22% tax rate for domestic companies. However, key deductions and depreciation benefits ...

Courts held that bona fide buyers cannot lose ITC due to supplier non-payment of GST. The key takeaway is protection of genuine taxpayers with proper ...

The issue was whether a fresh registration application can be rejected due to prior denial. ITAT held that earlier rejection does not bar reconsideration if conditions are ...

RBI directed banks to speed up credit of inward foreign payments. It held that delays at the beneficiary bank level must be minimized through faster processing and ...

The Tribunal restored the penalty matter as the quantum addition was sent back to the AO. It held that penalty must follow the outcome of reassessment ...