Judgement

The Court quashed a GST order against M/S Mahesh Chandra Trading Company, holding that imposing interest not quantified in the show cause notice violated Section 75(7). Authorities were permitted to issue a fresh notice in accordance with the law.

Court Strikes Down GST Order for Violating Natural Justice and Section 75 Limits

High Court Strikes Down GST Order for Non-Quantification of Interest in GST-SCN

Press Release

RBI proposes rules for banks to manage and sell non-financial assets acquired from bad loan recoveries in a transparent and time-bound manner.

RBI Unveils Draft Guidelines on Specified Non-Financial Assets

Notifications

The Council of ICAI has announced the removal of 73 CAs from its Register of Members on grounds of their death, with effect from different dates.

ICAI Removes 73 CAs from Register of Members on Account of Their Death

Articles

A concise guide highlighting common mistakes in Income Tax Return (ITR) filing and how to avoid them for accurate and hassle-free tax filing.

ITR Filing Guide: Common ITR Filing Mistakes and How to Avoid Them

10 Common ITR Filing Mistakes to Avoid in year 2025-26

The Tribunal held that cash payments for paddy made through agents are exempt from Section 40A(3) under Rule 6DD(e) and (k), as they constitute payments for agricultural produce. Consequently, it quashed the Section 263 revision, ruling that the Assessing Officer's original order was neither beneficial to the Revenue since a proper enquiry had already been conducted.

No Income Tax Cash disallowance on Payment made to Farmers: ITAT

The ITAT Bangalore held that TDS is generally required on year-end provisions where the payee and liability are identifiable, but the matter was remanded to the AO to verify whether taxes were already paid by recipients and grant relief.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

High Court Strikes Down GST Order for Non-Quantification of Interest in GST-SCN

RBI Unveils Draft Guidelines on Specified Non-Financial Assets

ICAI Removes 73 CAs from Register of Members on Account of Their Death

10 Common ITR Filing Mistakes to Avoid in year 2025-26

No Income Tax Cash disallowance on Payment made to Farmers: ITAT

TDS applicable on year-end provisions; TDS on salaries required only required at payment time: ITAT