Delay in Filing Appeal Condoned as it was Caused by Bona Fide Mistake of Tax Consultant. Issue Whether a delay in filing an appeal against the rejection of Section 12A/80G registration can be condoned when the delay was caused by the assessee following the incorrect advice of their tax consultant. Facts The assessee-society’s initial applications… Read More »
Late Filing of Form 10B Not Fatal if Filed Before Assessment Completion. Issue Can a charitable trust’s exemption under Section 11 be denied on the grounds that the mandatory audit report in Form 10B was filed after the due date of the income tax return, even if it was filed before the assessment was completed?… Read More »
Earning Rental Income to Fund Charity Does Not Bar Tax Registration. Issue Can a charitable trust be denied registration under Section 12A of the Income-tax Act on the grounds that it earns substantial rental income from letting out shop spaces, and does this rental activity constitute a “business” that violates the conditions for a charitable… Read More »
Late Filing of Form 10B Not Fatal if Filed Before Assessment Completion. Issue Can a charitable trust’s exemption under Section 11 be denied on the grounds that the mandatory audit report in Form 10B was filed after the due date of the income tax return, even if it was filed before the assessment was completed?… Read More »
Delay in Loss Return Condoned as CA’s Confusion on Complex TDR Issue is “Sufficient Cause”. Issue Whether a delay in filing a loss return under Section 139, caused by a Chartered Accountant’s bona fide confusion over a complex and unsettled legal issue (the tax treatment of TDR), constitutes “sufficient cause” for condonation under Section 119(2)(b),… Read More »
Telangana HC Seeks Reply on GST Levy Over Mining Royalty Issue: To determine the constitutional and legal validity of levying Goods and Services Tax (GST) on deductions made towards mining royalty, seigniorage, District Mineral Foundation (DMF), and State Mineral Exploration Trust (SMET) payments, particularly in light of a recent Supreme Court ruling. Facts: A… Read More »
India’s Exports to US Dip 37.5% After Tariff Imposition: GTRI Issue: To analyze the sharp decline in India’s exports to the United States (US) following the imposition of significant tariffs by the US on a wide range of Indian products. Facts: The US imposed a total of 50% tariff on a wide range of… Read More »
Delhi High Court Quashes Assessment Order Based on AI-Generated Precedents Title: Bombay HC Quashes Income Tax Assessment Over Use of AI-generated Case Laws (Puneet Batra vs. Union of India & Ors.) Issue: Whether an income tax assessment order is legally sustainable if the Assessing Officer (AO), performing a quasi-judicial function, relies on non-existent, fictitious,… Read More »
GST Net Revenue Inches Up 0.6% in October; Refunds Jump Nearly 40% Issue: To analyze the Goods and Services Tax (GST) revenue performance in October 2025, specifically tracking the impact of the recent GST rate rationalization (GST 2.0) on net collections and the quantum of refunds processed. Facts: The GST rate rationalization, which reduced… Read More »
GST Collection Declines in 20 Out of 36 States/UTs in October Issue: To analyze the detailed state-wise Goods and Services Tax (GST) collection data for October 2025, revealing a decline in revenue for a majority of states and Union Territories following the GST rate rationalization (GST 2.0). Facts: The GST rate cuts (GST 2.0)… Read More »