News

The ICAI has issued an Exposure Draft of its Guidance Note on Tax Audit under Section 44AB, outlining audit procedures, reporting requirements, and compliance obligations for businesses and professionals.

ICAI Releases Exposure Draft of Guidance Note on Tax Audit Under Section 44AB of Income Tax Act

Judgement

 High Court Quashes Section 148 Reassessment Notice for 2015-16 as Barred by Limitation 

The High Court dismissed a writ petition challenging a Rs 112.39 crore GST demand, holding that the taxpayer must first exhaust the statutory appellate remedy under the CGST Act.

High Court Refuses to Entertain Writ Petition, Says Taxpayer Must First Approach GST Appellate Authority

ITAT Deletes Additions for Cash Deposits After Finding Assessee's Explanation Credible

Notifications

The CBIC has expanded the customs duty exemption by including 85 categories of machinery used in lithium-ion cell manufacturing, aiming to boost domestic battery production and reduce import costs.

CBIC Expands Customs Duty Exemption for Lithium-Ion Cell Manufacturing Machinery

The High Court quashed a GST order, holding that CGST authorities cannot initiate parallel proceedings on the same ITC issue already covered by SGST and that FY 2017-18 proceedings were time-barred.

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ICAI Releases Exposure Draft of Guidance Note on Tax Audit Under Section 44AB of Income Tax Act

High Court Quashes Section 148 Reassessment Notice for 2015-16 as Barred by Limitation

High Court Refuses to Entertain Writ Petition, Says Taxpayer Must First Approach GST Appellate Authority

ITAT Deletes Additions for Cash Deposits After Finding Assessee's Explanation Credible

CBIC Expands Customs Duty Exemption for Lithium-Ion Cell Manufacturing Machinery

High Court Quashes GST Order, Holds CGST Cannot Run Parallel Proceedings on ITC Already Examined by SGST