GST Assessment Order for ITC Reversal Set Aside; Opportunity Granted to Assessee with Conditions of 25% Payment Issue: Whether an assessment order reversing Input Tax Credit (ITC) availed by the assessee based on invoices from a supplier under investigation for bill trading is valid, and whether the assessee should be given an opportunity to respond… Read More »
Flavored Milk Classified Under Tariff Heading 0402 9990 for Lower GST Rate Issue: The correct GST tariff classification for flavored milk: whether it falls under Heading No. 2202 9930 (attracting 6% CGST and 6% SGST) or Heading No. 0402 9990 (attracting 2.5% CGST and 2.5% SGST). Facts: The revenue authorities contended that flavored milk should… Read More »
14 IMPORTANT INCOME TAX CASE LAWS 21.02.2025 Section Case Law Title Brief Summary Citation 10(23C) Shahu Shikshan Prasarak Mandal v. ACIT (Exmp.) An educational trust can claim exemption under section 10(23C) even if it files its return in the wrong form. Click Here 11 Rani Adaikalaraj Educational and Charitable Trust v. Income-tax Officer A charitable… Read More »
Reassessment under Section 54F Challenged; Alternate Remedy Available; Interim Relief Granted Issue: Whether a writ petition challenging a reassessment order under Section 54F of the Income-tax Act, 1961, is maintainable when an alternate remedy of appeal is available, and whether interim relief should be granted to the assessee. Facts: The assessee claimed exemption under Section… Read More »
A reassessment order cannot be passed based on a mere change of opinion without any new material facts. Revision Order under Section 263 Set Aside for Lack of Erroneous Assumption Issue: Whether the Principal Commissioner (Pr. Commissioner) was justified in invoking revisionary jurisdiction under Section 263 of the Income-tax Act, 1961, to re-examine the computation… Read More »
Penalty for Concealment of Income Upheld in Case of Inflated Land Valuation and Subsequent Withdrawals Issue: Whether the imposition of penalty under Section 271(1)(c) of the Income-tax Act, 1961, for concealment of income is justified when the assessee transferred a revalued plot of land to a partnership firm and subsequently withdrew a significant portion of… Read More »
Adjustment of Refund Against Tax Dues Quashed when the assessee is not granted a hearing Issue: Whether the adjustment of a tax refund against outstanding tax dues under Section 245 of the Income-tax Act, 1961, is valid when the assessee is not granted a hearing or a formal order is not passed, thereby violating the… Read More »
Assessment Order Upheld; Appeal to be Disposed of Expeditiously with Continued Stay Issue: Whether the assessment order passed under Section 147 read with Section 144B of the Income-tax Act, 1961, should be interfered with, considering the assessee’s contentions of incomplete information and the department’s claim of non-cooperation in providing documents. Facts: The assessee, engaged in… Read More »
TCS collected on the income of a minor child should be allowed as a credit to the parent. Issue: Whether Tax Collected at Source (TCS) collected in the name of a minor child can be credited to the assessee when the minor’s income is clubbed with the assessee’s income under Section 64(1A) of the Income-tax… Read More »
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