Understanding Old Tax Regime Vs New Tax Regime AY 2025-26 The existence of two tax regimes is important as they provide flexibility and cater to different financial needs and preferences of taxpayers. 0.1: What are the two tax regimes in India? Ans: The two tax regimes are the Old tax regime and the New tax… Read More »
ITR Filing 2025 How Many Times Taxpayer Can Switch between Old and New Tax Regime Section 115BAC of the Income Tax Act, 1961, deals with the option for individuals and Hindu Undivided Families (HUFs) to pay income tax under a new, concessional tax regime. Here’s a breakdown of how the switching between the old and… Read More »
14 Important GST Case Law 25.02.2025 Section Case Law Title Brief Summary Citation 16 Mehul Mamgain v. Union of India A writ petition cannot be filed to address a private grievance regarding ITC claims. Writ can not be filed by Supplier to Audit ITC Claim of Recipient if Payment not made to him Click Here 16… Read More »
Garnishee Order Set Aside Due to Lack of Prior Notice to the Assessee and Payment of Tax Issue: Whether a garnishee order issued to an assessee’s bank is valid when it is issued without prior notice to the assessee and the tax demand has been duly paid. Facts: A garnishee order was issued to the… Read More »
Demand Order Quashed; Matter Remanded for Consideration of Assessee’s Reply Issue: Whether a demand order is valid when the assessing authority fails to consider the assessee’s reply to the show cause notice. Facts: The assessee, engaged in event management services, received a notice in DRC-01 with a personal hearing due to discrepancies found during scrutiny… Read More »
Transitional ITC Refund and GSTR-3B Rectification Allowed Due to GST Portal Glitches Issue 1: Whether the assessee should be allowed to rectify GSTR-3B for the period July-November 2017 to claim transitional Input Tax Credit (ITC) that could not be availed due to technical glitches. Issue 2: Whether the assessee is entitled to a refund of… Read More »
GST Assessment Order Invalidated for Lack of Signature; Fresh Assessment Allowed Issue: Whether a GST assessment order in Form GST DRC-07 is valid if it lacks the signature of the assessing officer. Facts: The assessee challenged an assessment order, contending that it did not contain the signature of the assessing officer. The revenue admitted the… Read More »
Refund of IGST Paid on Ocean Freight Allowed Despite Limitation Period Due to Unconstitutional Levy Issue: Whether a refund of Integrated Goods and Services Tax (IGST) paid on ocean freight under an unconstitutional levy can be granted despite the refund claim being filed beyond the limitation period prescribed under the GST Act. Facts: The assessee… Read More »
15 Important INCOME TAX Law 25.02.2025 Section Case Law Title Brief Summary Citation 4 Rajendra Agarwal v. ACIT, Central Circle-1 Income from unexplained sources can be assessed based on incriminating documents. Click Here 12A Chandragupt Shephards Welfare Association v. Commissioner of Income-tax, Exemption A show-cause notice must be issued before rejecting a registration… Read More »
Reopening Notice Based on Change of Opinion Set Aside; Share Premium Issue Already Examined Issue: Whether a reopening notice issued under Section 148 of the Income-tax Act, 1961, is valid when it is based on a change of opinion without any fresh tangible material, particularly when the issue of share premium was already examined in… Read More »