News

IHCL, the operator of Taj Hotels, has been fined Rs 10 lakh by the BMC over an alleged NOC lapse in the amended building approval process, with no material impact expected on its operations.

Taj Hotels Operator IHCL Fined Rs 10 Lakh by BMC for Alleged Failure to Obtain NOC for Building Plan Approval

Judgement

The GSTAT set aside the Rs 1.09 lakh penalty imposed for transporting goods without an e-way bill and directed fresh adjudication after an effective personal hearing.

Defective Section 129 Penalty Order Cannot Sustain Penalty Without Effective Hearing Opportunity, Holds GSTAT

The Centre has raised petrol export tax to Rs 2.5 per litre and cut diesel export duty to Rs 8.5 per litre, while keeping ATF duty unchanged.

Centre Hikes Windfall Tax on Petrol Exports to Rs 2.5 per Litre, Cuts Diesel Export Duty to Rs 8.5

The GSTAT dismissed appeals and upheld penalties of Rs 1.81 lakh and Rs 2.47 lakh for transporting goods under expired e-way bills, ruling that proof of intent to evade tax is not mandatory under Section 129 of the CGST/SGST Act, 2017.

Intent to Evade Tax Not Necessary for Penalty Under Section 129 for Expired E-Way Bills, Holds GSTAT

The ITAT Delhi holds revision unsustainable on debatable issue of taxability of interest on enhanced compensation.

ITAT Holds Section 263 Revision Invalid on Taxability of Interest Under Section 28 of Land Acquisition Act

The ITAT Mumbai holds banking transactions alone cannot establish loan genuineness.


ITAT Upholds Section 68 Addition for Bogus Loans But Restricts Estimated Profit to 2% of Sales

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