Judgement

HC upholds the constitutional validity of Section 16(2)(c) of the CGST Act while allowing Sumetco Alloys to contest the Rs 56.44 crore ITC demand before the appellate authority.

High Court Upholds Validity of GST ITC Condition Under Section 16(2)(c), Allows Appeal Against Rs 56.44 Crore Demand

The ITAT Mumbai held that business expenditure incurred through the credit card of the assessee’s spouse cannot be treated as payment for services requiring TDS.

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

ITAT dismisses Revenue’s appeal, upholds Section 80IA(4) deduction along with relief on Rs. 53.34 crore bad and doubtful debt disallowance.

ITAT Deletes Rs 53.34 Crore Bad Debt Disallowance and Upholds Section 80IA(4) Deduction

The ITAT Jaipur allows Section 270A(6) relief to assessee who missed return filing after relocating to USA.


ITAT Holds Bona Fide Explanation for Belated Return Excluded from Underreported Income

News

SEBI closes NSEL-related proceedings against Steel City Commodities after a Rs 6 lakh settlement, with no financial or operational impact on Steel City Securities.

SEBI Closes Proceedings Against Steel City Commodities Over NSEL Matter After Subsidiary Pays Rs 6 Lakh Settlement Amount

The Govt has clarified that UPI transactions for P2P transfers and small everyday payments will remain charge-free, while limited fees may apply to select high-valued transactions.

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High Court Upholds Validity of GST ITC Condition Under Section 16(2)(c), Allows Appeal Against Rs 56.44 Crore Demand

ITAT Holds Business Expenses Can Be Incurred Through Spouse’s Credit Card and Cannot Be Disallowed

ITAT Deletes Rs 53.34 Crore Bad Debt Disallowance and Upholds Section 80IA(4) Deduction

ITAT Holds Bona Fide Explanation for Belated Return Excluded from Underreported Income

SEBI Closes Proceedings Against Steel City Commodities Over NSEL Matter After Subsidiary Pays Rs 6 Lakh Settlement Amount

UPI Transactions to Remain Charge-Free: Finance Ministry Notifies New Payment Rules