News

TVS Supply Chain Solutions Limited said its subsidiary has appealed against a Rs 6.71 crore income tax demand and is seeking a stay on payment pending resolution.

TVS Supply Chain Solutions Subsidiary Challenges Rs 6.71 Crore Tax Demand, Moves CIT(A) for Relief

Judgement

The court reaffirmed that the one-year lifespan of a provisional attachment under Section 83(2) of the CGST Act is absolute and cannot be circumvented.

GST Department cannot use its power to freeze bank accounts indefinitely: High Court

After a survey led to an excessive tax demand based on just two days of sales, the ITAT stepped in to strike down the "commercially impossible" estimate.

Income Tax reassessment proceedings cannot be held bad in law due to a lack of a signature on notice

The Tribunal upheld a Supreme Court ruling that if the cause of delay given by the appellant is not refuted, the delay should be condoned.

Delay Should Be Condoned if Explanation is Unrefuted: ITAT

Court holds Additional Commissioner included in Joint Commissioner definition; penalty approval legally valid under law.

HC Rejects Challenge to Approval; Section 274(2) Compliance Established

Income Tax Penalty proceeding initiated with prior approval of additional commissioner Valid: HC

High Court rules foreign company income cannot be taxed in shareholders’ hands without statutory backing.

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TVS Supply Chain Solutions Subsidiary Challenges Rs 6.71 Crore Tax Demand, Moves CIT(A) for Relief

GST Department cannot use its power to freeze bank accounts indefinitely: High Court

Income Tax reassessment proceedings cannot be held bad in law due to a lack of a signature on notice

Delay Should Be Condoned if Explanation is Unrefuted: ITAT

Income Tax Penalty proceeding initiated with prior approval of additional commissioner Valid: HC

Foreign Company Income Not Taxable in Shareholders’ Hands, HC Clarifies