Prosecution for Wilful Tax Evasion Under Black Money Act Allowed; Assessee Can Raise Defenses in Trial Issue: Whether prosecution under Section 51 of the Black Money Act, 2015, for wilful attempt to evade tax can be initiated before the completion of assessment, and whether the assessee can raise defenses during the trial. Facts: A search… Read More »
Fees paid by the assessee to a third party for technical services related to the metro rail project are allowable as business Clarification on Section 80IA Deduction and Allowability of Technical Service Fees Key Issues and Decisions: I. Deduction under Section 80IA for Infrastructure Projects: Issue: Whether the assessee, a contractor for a metro rail… Read More »
Interest paid on late payment of TDS not allowed as business deduction Varied Interpretations on Interest Deductibility, Unexplained Moneys, and Expenditures Key Issues and Decisions: I. Disallowance of Interest on Late TDS Payment: Issue: Can interest paid on late payment of TDS under Section 201(1A) be claimed as a business deduction under Section 36(1)(iii)? Decision:… Read More »
Income of Investment Bank from long-term investments not exempt under Section 10(38). Clarification on Business Loss Disallowance and Capital Gains vs. Business Income for Investment Banking Key Issues and Decisions: I. Disallowance of Contrived Losses: Issue: Whether the Assessing Officer (AO) can disallow business losses claimed by the assessee, an investment bank, based on the… Read More »
Sale of land by real estate developer treated as capital gain, not business income. Deduction under Section 24(a) allowed for building rent wrongly claimed as plot rent. Clarifications on Cash Deposits, Capital Gains vs. Business Income, and Rental Income Deductions Key Issues and Decisions: I. Cash Deposits During Demonetization: Issue: Whether a cash deposit of… Read More »
Disallowance under Section 14A Not Justified for Dividend Exempt Income Issue: Whether the disallowance made under Section 14A of the Income-tax Act, 1961, for expenses related to exempt income is justified when the assessee has sufficient funds and has already disallowed certain expenses related to exempt income. Facts: The assessee made investments in equity shares… Read More »
Research Center for Organic Farming Is Charitable Activities Classified as “Relief of Poor” for Tax Exemption Issue: Whether the activities of a charitable company, primarily engaged in promoting organic farming and supporting farmers, should be classified as “relief of poor” for the purpose of tax exemption under Section 11 of the Income-tax Act, 1961. Facts:… Read More »
14 IMPORTANT GST CASE LAW 18.02.2025 Sr No Case Law Title Brief Summary Citation Relevant Section and Act 1 GSTN advisory GSTN introduced Form ENR-03 for unregistered dealers to generate e-way bills. Click Here Central Goods and Services Tax Act, 2017 2 North Agro Industries (P.) Ltd. v. Union of India Deadline for rectification application… Read More »
GST Assessment Orders Invalidated for Lack of Signature and DIN Issues: Whether a GST assessment order is valid if it lacks the signature of the assessing officer. Whether a GST assessment order is valid if it does not contain the DIN (Document Identification Number). Facts: The assessee challenged assessment orders for the period 2021-2022, citing… Read More »
GST Appellate Order Set Aside for Lack of Hearing and Non-Compliance with Procedural Requirements Issue: Whether the appellate order rejecting the assessee’s appeal against an order relating to excess Input Tax Credit (ITC) is valid when the Appellate Authority failed to provide an opportunity of hearing and did not comply with the procedural requirements of… Read More »