Articles

The Income Tax Department reports a 9.4% rise in net direct tax collections, indicating a wider taxpayer base.

India’s Net Direct Tax Collections Rise 9.4% to Rs. 19.44 Lakh Crore, Reflecting a Broader Tax Base

Judgement

Appellate Authority for Advance Ruling holds that importer cannot claim ITC where Bill of Entry reflects third-party GSTIN

AAAR Ruling: No ITC on Bill of Entry Issued in the Name of Third-Party Warehouses

The ITAT said that whether an expense is revenue or capital is a debatable issue, and the penalty under Section 271(1)(c) cannot be levied if the dispute involves debatable legal interpretations.

Section 271(1)(c) Penalty Cannot be Levied Where Issue is Debatable: ITAT

Section 271(1)(c) Penalty Cannot be Levied Where Disallowance Involves Debatable Issue: ITAT

News

The Central Government Orders Suspension of Chennai GST Commissioner Over Alleged Illegal Payment Demand.

GST Commissioner Suspended Over Bribery Allegations

Income Tax Addition for Unexplained Cash Deposits During Demonetization Period deleted for Cash Balance Backed by Books of account and computation of income

Demonetization Cash Deposits Addition Deleted as Books Fully Explained Cash Balance

ITAT upheld the CIT(A)'s ruling, holding that ad-hoc expense disallowances without rejecting audited books or proving defects cannot be sustained.

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India’s Net Direct Tax Collections Rise 9.4% to Rs. 19.44 Lakh Crore, Reflecting a Broader Tax Base

AAAR Ruling: No ITC on Bill of Entry Issued in the Name of Third-Party Warehouses

Section 271(1)(c) Penalty Cannot be Levied Where Disallowance Involves Debatable Issue: ITAT

GST Commissioner Suspended Over Bribery Allegations

Demonetization Cash Deposits Addition Deleted as Books Fully Explained Cash Balance

ITAT Dismisses Rs. 8.82 Crore Addition; Holds Estimated Disallowances Not Allowed Without Proof