ITR FILING DATE EXTENDED AY 2025-26 AUDIT CASES NEW ORDER
ITR FILING DATE EXTENDED AY 2025-26 AUDIT CASES NEW ORDER
Daily Archives: October 13, 2025
Writ against denial of input tax credit not entertained as alternate remedy of appeal before Tribunal exists: HC
A court directed a taxpayer to use an interim circular to stay recovery and await the formation of the GST Appellate Tribunal. On Interim Relief When the GST Tribunal is Not Constituted A taxpayer who wants to appeal an order but cannot because the GST Appellate Tribunal isn’t functional can get interim protection from recovery… Read More »
Sanction granted by PCIT for issuing notice in reassessment within 3 years from end of relevant AY was valid: HC
A taxpayer cannot challenge a reassessment order as time-barred if their own request for a personal hearing caused the order to be passed after the initial one-month time limit. Issue Is an order passed under Section 148A(d) of the Income-tax Act, 1961, barred by limitation if it is passed more than one month after the… Read More »
ITAT condoned delay in filing appeal as it was due to default committed by appointed lawyer
Professional negligence by a counsel is a valid reason to condone an appeal delay. Issue Should a delay in filing an appeal be condoned if the reason for the delay is the professional negligence or oversight of the taxpayer’s authorized representative? Facts An assessee’s appeal before the First Appellate Authority was dismissed solely on the… Read More »
Section 263 revision invalid as AO rightly accepted sec. 112 tax rate for capital gains on depreciable assets: ITAT
Section 50’s deeming fiction doesn’t affect the tax rate under Section 112. Issue Does the deeming provision of Section 50 of the Income-tax Act, 1961, which treats the gain on the sale of a depreciable asset as a Short-Term Capital Gain (STCG), also mandate that it must be taxed at the higher rates applicable to… Read More »
GST Reforms Unlock Economic Potential in Jharkhand
GST Reforms Unlock Economic Potential in Jharkhand The article outlines how the recent GST rate rationalization, primarily through cuts from 12% to 5%, is set to boost Jharkhand’s economy by enhancing affordability, fostering industrial growth, and empowering tribal and rural livelihoods. Key Sectoral Gains from Rate Reductions Forest and Agro-Products (12% to 5%): GST cuts… Read More »
Enhanced Transparency in Income Tax Faceless Proceedings
Enhanced Transparency in Income Tax Faceless Proceedings The Income Tax Department has released a new update aimed at enhancing transparency and streamlining the conduct of its faceless tax assessment and appeal proceedings. Key Features of the New Update Improved Communication and Interaction: The update focuses on simplifying the digital interface and communication channels used during… Read More »
Annual GST Compliance Opens: GSTR-9 and GSTR-9C Filing Now Live for FY 2024-25
Annual GST Compliance Opens: GSTR-9 and GSTR-9C Filing Now Live for FY 2024-25 The GST portal has officially enabled the functionality for filing the Annual Return (GSTR-9) and the Reconciliation Statement (GSTR-9C) for the Financial Year 2024-25. Key Deadlines and Applicability Filing Deadline: The last date to file both GSTR-9 and GSTR-9C is December 31,… Read More »
GST 2.0 on Housing: Simplification Doesn’t Guarantee Affordability for All Buyers
GST 2.0 on Housing: Simplification Doesn’t Guarantee Affordability for All Buyers A Chartered Accountant (CA) has issued a caution regarding the recent Goods and Services Tax (GST) 2.0 simplification measures for the housing sector, warning that while the new structure simplifies tax calculation, it does not automatically ensure affordability for all homebuyers. Key Concerns Highlighted… Read More »
NITI Aayog Advocates for Decriminalizing Tax Offenses for Business Confidence
NITI Aayog Advocates for Decriminalizing Tax Offenses for Business Confidence The article discusses how NITI Aayog, the Indian government’s public policy think tank, is strongly pushing for the decriminalization of minor tax offenses across various tax laws, including GST and Income Tax. Core Rationale for Decriminalization Fostering Compliance and Fairness: The primary objective is to… Read More »