Judgement

The Gujarat High Court observed that this was a genuine and bona fide error, and the company also paid taxes at the concessional rate of 22% and quashed the order.

HC Condones Delay in Filing Income Tax Form 10-IC Due to Bona Fide Error, Upholds Liberal Interpretation of “Genuine Hardship” Under Section 119(2)(b)

Articles

Goods and Services Tax (GST) officers have discovered fake Input Tax Credit (ITC) claims of Rs. 15,851 crore in the April-June quarter of the current fiscal year.

GST Officers Detect Rs 15,851 Crore Fake ITC Claim

News

Around 40,000 taxpayers have revised their ITRs, withdrawing fake claims worth Rs. 1,045 crore after an AI-driven crackdown by the Income Tax Department.

Income Tax Fake Deductions: 40K Taxpayers Revised ITR to Withdraw Bogus claims of Rs 1045 Cr

The Income Tax Department has released the Income Tax Return (ITR) utility new codes under "Nature of Business/Profession" to improve developing sectors and activities.

ITR-3 Utility Updated: New codes added Under "Nature of Business/Profession"

ICAI has issued Memorandum of Suggestions on Income Tax Bill 2025, offering constructive feedback, proposed changes, and recommendations on the draft bill.

ICAI Releases Memorandum of Suggestions on Income Tax Bill 2025

High Court allows GST appeal after acknowledging pre-deposit; challenges Form 26AS-based assessment and Order-in-Original.

GST: High Court Allows Appeal Against Form 26AS Based Assessment, Recognises Pre-Deposit Made During Writ Proceedings

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