Articles

The Income Tax Department launches nationwide drive to penalize entities for failing to report high-value financial transactions for FY 2023-25.

Income Tax Department Uses AI to Track Unreported Financial Transactions

Notifications

The Central Government has granted income tax exemption to the Rajasthan State Seed and Organic Certification Agency under Section 10(46A) of the Income Tax Act, effective from Assessment Year 2024–25.

Income Tax Exemption given to Rajasthan State Seed and Organic Certification Agency

The Central Government has granted income tax exemption to U.P. Awas Evam Vikas Parishad under Section 10(46A) of the Income-tax Act, effective from Assessment Year 2024-25.

Big Relief for UP Awas Evam Vikas Parishad! CBDT exempts Income from Tax u/s 10(46A)

Judgement

The AAR Tamil Nadu ruled that ITC can be claimed only on steel used for supporting HVAC and crane structures and clarified the timeline for availing ITC on advance invoices.

GST Alert: Miss ITC Claim by Nov 30 & Lose It Forever, AAR

The Tamil Nadu AAAR upheld the AAR ruling, dismissing Becton Dickinson India’s appeal on ITC eligibility for import IGST via TR-6 challan.

AAAR Upholds AAR Ruling: ITC on Import IGST via TR-6 Challan Not Allowed, Appeal Dismissed

The ITAT held that the reason was levying a penalty, saying that the assessee failed to benchmark the international as well as specified domestic transactions, is not permissible under the provisions of section 271G of the Act.

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Income Tax Department Uses AI to Track Unreported Financial Transactions

Income Tax Exemption given to Rajasthan State Seed and Organic Certification Agency

Big Relief for UP Awas Evam Vikas Parishad! CBDT exempts Income from Tax u/s 10(46A)

GST Alert: Miss ITC Claim by Nov 30 & Lose It Forever, AAR

AAAR Upholds AAR Ruling: ITC on Import IGST via TR-6 Challan Not Allowed, Appeal Dismissed

Section 271G Penalty is Levied for Non-Submission of Information and Not for Failure to Benchmark: ITAT Ahmedabad