In a case addressing the treatment of alleged bogus purchases, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has partly allowed an appeal filed by assessee Vinesh Arvindkumar Shah. The ...

The Tribunal observed that in analogous cases involving the same industry, additions at the rate of 5% of the alleged bogus purchases, representing the gross profit margin, have been upheld. Relying ...

Patna High Court has set aside a tax recovery order against Great Eastern Hire Purchase Pvt. Ltd., ruling that the underlying tax assessment was deemed withdrawn under Section 62 (2) of the ...

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently adjudicated on the extent of disallowance permissible ...

2. It is informed that as a onetime exemption to the order dated 24 April 2025 mentioned above, the entry of 162 freight trucks (list attached) carrying perishable agricultural goods for export to ...

The Securities and Exchange Board of India (SEBI) has issued a draft circular proposing changes to the Master Circular governing listing obligations and disclosure requirements for entities with ...

The Central Goods and Service Tax Act, 2017 (CGST Act) in Section 109 mandates the constitution of a Goods and Service Tax Appellate Tribunal (GSTAT) and its Benches. GSTAT is set to become the forum ...

The Appellate Authority for Advance Ruling (AAAR), Tamil Nadu, has upheld a previous ruling stating that the value of silver ...

The Tamil Nadu Authority for Advance Ruling (AAR) has determined that housekeeping and cleaning services provided to the ...

Summary: Taxpayers who have paid income tax exceeding their actual liability are generally required to file their return of income within the due date specified under Section 139 of the Income Tax Act ...

India’s response to the recent tariff measures proposed by the United States, particularly the impending 26% reciprocal tariff on Indian exports, has been pragmatic and strategic, reflecting its ...

CESTAT Hyderabad held that the activity of investment in mutual fund does not involve the presence of a service rendered by a service provider towards a recipient of service for some consideration.