News

GSTN has clarified that the new IMS will not affect the existing process of ITC auto-population from GSTR-2B to GSTR-3B or the monthly generation of GSTR-2B.

GSTN Clarifies No Change in ITC Auto-Population Under New Invoice Management System (IMS)

Judgement

ITAT sets aside penalty u/s 271C for non-deduction of TDS on interest and remands to AO to verify assessee’s claim of belated payment with interest in light of Supreme Court precedent.

ITAT Remands Penalty u/s 271C for Non-Deduction of TDS on Interest for Verification of Factual Claim

ITAT Ahmedabad directs reassessment of TDS and expense claims while upholding PF/ESIC disallowance, granting partial relief to the taxpayer.

ITAT Partially Allows Appeal, Directs AO to Reverify TDS and Expense Claims

ITAT upholds CIT(A)’s deletion of addition of Rs. 8,94,55,878 u/s 56(2)(viib), holding that Assessing Officer cannot replace DCF with NAV once method is validly adopted under Rule 11UA.

DCF Valuation Accepted: ITAT Upholds Deletion of Rs. 8.94 Cr Share Premium Addition

As per the Gujarat AAR, the Particulate Matter Permits are goods under the GST Act and attract a 12% GST Rate.

Particulate Matter Permits are Taxed at 12% GST: GAAR

Exam

ICAI opens online registration for eligible members to act as observers at the January 2026 CA examination centres from Today, October 08, at observers.icaiexam.icai.org.

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GSTN Clarifies No Change in ITC Auto-Population Under New Invoice Management System (IMS)

ITAT Remands Penalty u/s 271C for Non-Deduction of TDS on Interest for Verification of Factual Claim

ITAT Partially Allows Appeal, Directs AO to Reverify TDS and Expense Claims

DCF Valuation Accepted: ITAT Upholds Deletion of Rs. 8.94 Cr Share Premium Addition

Particulate Matter Permits are Taxed at 12% GST: GAAR

ICAI Opens Registrations for CA January 2026 Exams Observers at observers.icaiexam.icai.org