News

ICAI has created the Corporate Mitra Committee this year in alignment with the Budget announcements to strengthen collaboration between the profession and the corporate sector.

ICAI creates Corporate Mitra in line with Budget 2026 to support afforadable Professional Services in small cities

Judgement

Concessional 5% GST rate for "bio-degradable bags" does not extend to regular paper bags, confirms Authority for Advance Ruling

AAR Clarifies 18% GST Rate for Non-Biodegradable Paper Bags

ITAT Ahmedabad quashes Rs. 90 lakh tax addition, citing bank account misidentification and lack of proper inquiry by the Assessing Officer and lower authorities.

ITAT Ahmedabad Quashes Rs. 90 Lakh Tax Addition for Misidentified Bank Account

The ITAT upheld that filing Form 10B is just a procedural requirement, and even if it is filed beyond the specified due date, exemption under section 11 can still be claimed.

Section 11 Exemption Cannot Be Denied Solely for Late Filing of Form 10B: ITAT

Marketing and consultancy services provided on a principal-to-principal basis qualify as independent services

AAR Rules Student Recruitment Services for Foreign Universities Not 'Intermediary Services'

ITAT condoned the assessee’s delay, remanded the case to AO, and directed a Rs. 5,000 payment to the PM Relief Fund.

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ICAI creates Corporate Mitra in line with Budget 2026 to support afforadable Professional Services in small cities

AAR Clarifies 18% GST Rate for Non-Biodegradable Paper Bags

ITAT Ahmedabad Quashes Rs. 90 Lakh Tax Addition for Misidentified Bank Account

Section 11 Exemption Cannot Be Denied Solely for Late Filing of Form 10B: ITAT

AAR Rules Student Recruitment Services for Foreign Universities Not 'Intermediary Services'

Delay Condoned by ITAT; Case Remanded to AO, Rs. 5,000 Directed to PM Relief Fund