Judgement

Bench directs that settlement applications filed on 22.03.2021 be treated as “pending” and processed by the Interim Board; reads down retrospective effect of Section 245C(5) so as not to extinguish filings up to 31.03.2021.

HC Rules Income-Tax Settlement Applications Filed Before 31 March 2021 Remain Valid Despite Retrospective Amendment

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)

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.

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HC Rules Income-Tax Settlement Applications Filed Before 31 March 2021 Remain Valid Despite Retrospective Amendment

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