News

Tax Guru1h
Non-Mentioning of Scrutiny Type Renders Section 143(2) Notice Invalid
The case involved Tapas Kumar Das, the assessee, whose income tax return for AY 2017-18 was selected for scrutiny under the ...
Tax Guru2h
Common Mistakes in Financial Statements of Non-Corporate Entities & CA Audit Assignment Limits
A practicing Chartered Accountant shall not accept, in a financial year, more than “60” tax audit assignments under Section ...
Tax Guru2h
No interest on timely GST Deposit in Electronic Cash Ledger
Conclusion: Whenever, the GST has been paid by using Form GST PMT-06, the tax liability will be discharged to that extent.
Tax Guru4h
Section 143(1)(a) Adjustments on Debatable PF/ESI Issues Pre-Checkmate Services Judgment
Chhattisgarh High Court on Summary Assessment of Debatable Tax Issues; Tax Disallowance on Debatable PF/ESI Deposits Set ...
Tax Guru5m
ITAT Sets Aside CIT(E) Order on Section 10(23C) Registration, Directs Fresh Review
The case pertains to an appeal filed by Aanya Learning Foundation against the CIT (E)’s order dated July 16, 2018. Aanya Learning Foundation, seeking recognition as an educational institution for tax ...
Tax Guru4m
Seaweed Concentrate is Fertilizer Not Plant Growth Regulator: CESTAT Mumbai
Mumbai: In a decision with implications for the agricultural inputs sector, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai, has ruled that “Liquid Seaweed Concentrate (Crop ...
Tax Guru58m
CBIC Reports GST Grievance Mechanism and ITC Fraud Detection
CBIC Reports Customs Cooperation, GST Grievance Mechanism, and ITC Fraud Detection; Weekly newsletter from Chairman, CBIC dated 13/05/2025 ...
Tax Guru57m
CBIC Revises Customs Arrest Reporting Formats
The Central Board of Indirect Taxes & Customs (CBIC) has issued Instruction No. 10/2025-Customs, dated May 13, 2025, to revise the formats used for reporting arrests and incidents where no arrest is ...
Tax Guru59m
SEBI accepts surrender application of Strata SM REIT
Pursuant to certain news reports and review of certain legal proceedings against the promoter of a SEBI registered SM REIT, namely Strata SM REIT having Registration Number IN/SM-REIT/24-25/0004 in ...
Tax Guru48m
ITAT Dismisses Appeal as Taxpyer Opts for Vivad Se Vishwas Scheme
Income Tax Appellate Tribunal (ITAT), Delhi bench, has registered the dismissal of an appeal filed by Flovel Energy Pvt. Ltd. for the assessment year 2017-18. The action was taken by the tribunal ...
Tax Guru43m
ITAT Imposes ₹5,000 Cost for Non-Compliance, Allows Fresh Hearing on Trust Registration
Given the trust’s failure to provide any explanation for its non-compliance, the ITAT decided to impose a cost of Rs. 5,000 on the trust. The trust is required to pay this amount to the Income Tax ...
Tax Guru53m
GST Council Circulars Binding on Dept: Allahabad HC Quashes Order
Allahabad High Court has ruled that circulars issued by the Goods and Services Tax (GST) Council are binding on the tax department. The court quashed demand orders issued against Krishna ...