Judgement

ITAT Delhi held that reassessment based solely on low profit without any tangible material is invalid and quashed the Section 148 notice.

ITAT: Reassessment Under Section 148 Set Aside for Absence of Live Nexus

The ITAT held that since the purchase records and stock in the books of both entities have not been questioned, the transfer of stock to a dormant entity by does not make the cash sales suspicious.

ITAT Upholds Cash Jewellery Sales During Demonetisation; Rejects Revenue's Appeal

Considering this, the tribunal ruled that the late supply of goods is not a crime or violation of law but a payment for breach of contract.

Penalty on Late Supply of Goods is Compensatory in Nature and is Allowable Business Expenses: ITAT

News

Government hikes STT on F&O to curb "satta", sparking debate on effectiveness and impact on traders livelihoods.

F&O Traders React as Government Raises STT: Will It Really Stop Satta

Articles

This shift is even more pronounced in presumptive tax cases, where about 97% of the taxpayers under the presumptive taxation have shifted to the new tax regime.

No Plans to Introduce Sunset Clause for Old Tax Regime: CBDT Chairman as Majority of Taxpayers Shifting to New Regime

The Sales Tax Bar Association has urged the Finance Minister to reduce high GSTAT appeal fees, saying they create financial barriers and make justice difficult for small taxpayers and MSMEs.

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ITAT: Reassessment Under Section 148 Set Aside for Absence of Live Nexus

ITAT Upholds Cash Jewellery Sales During Demonetisation; Rejects Revenue's Appeal

Penalty on Late Supply of Goods is Compensatory in Nature and is Allowable Business Expenses: ITAT

F&O Traders React as Government Raises STT: Will It Really Stop Satta

No Plans to Introduce Sunset Clause for Old Tax Regime: CBDT Chairman as Majority of Taxpayers Shifting to New Regime

Sales Tax Bar Urges FM to Reduce High GSTAT Appeal Fees; Highlights Burden on MSMEs and Small Traders