Suo Motu Adjustment of Erroneously Paid Tax: Limitation and Penalties Set Aside Facts The Audit Instruction: The assessee, a nationalized bank, was directed by an audit team to pay service tax on its share of profit from foreign exchange transactions. The Payment: Following these instructions, the bank paid the tax but later realized, upon internal… Read More »
Restoration of GST Registration: Pragmatic Approach vs. Non-Filing of Returns Facts The Parties: The petitioner was a registered person under the WBGST/CGST Act. The Trigger: The Proper Officer issued an order dated 27 May 2023, cancelling the petitioner’s GST registration on the grounds of continuous non-filing of returns. The Appeal: The Appellate Authority confirmed this… Read More »
GST Registration Cannot Be Cancelled Retrospectively Solely Based on Supplier Cancellation Facts The Action: The GST Department issued an order for the ab-initio (from inception) cancellation of the assessee’s registration under Section 29(2) and Rule 21. The Allegation: The cancellation was triggered by the allegation that the assessee had availed ineligible Input Tax Credit (ITC)… Read More »
Insurance Supplies to SEZ: Retrospective Application of ‘Authorized Operations’ Amendment Challenged Facts The Service: The petitioners (insurance companies) provided general insurance services to SEZ units between 2017 and September 2023. Zero-Rating: These supplies were initially treated as zero-rated under Section 16 of the IGST Act, as they were made to SEZ units. The Amendment: The… Read More »
GST Exemption for Printing of Examination Papers Supplied to Universities Facts The Service: The applicant is a printing specialist engaged in providing printing services for examination papers to various universities. The Workflow: The universities provide the highly confidential content, quality standards, size specifications, and design formats. The applicant is strictly prohibited from deviating from these… Read More »
Contribution of Leasehold Rights to LLP Against Profit-Sharing is a Taxable Supply Facts The Asset: The applicant, Aryapride Hotel and Convention Private Limited, holds leasehold rights to one acre of land (leased from IDCO) intended for a Hotel-cum-Restaurant project. The Proposal: Upon completion of the construction, the applicant intends to form a Limited Liability Partnership… Read More »
SBI For transfer of funds from NRO to NRE account SBI For transfer of funds from NRO to NRE account Based on the document provided, here are the key points regarding the SBI Request for transfer of funds from NRO to NRE (Form NRI-10.2): Purpose and Basic Requirements Transaction: This form is used to… Read More »
Important Income Tax Case Laws 29.04.2026 Relevant Act Section Case Law Title Citation Brief Summary Income Tax Sec 2(1A) Bombay Super Hybrid Seeds Ltd. v. DCIT/ACIT Click Here Seed Production: Income from hybrid seeds produced on leased land under company supervision is “Agricultural Income,” not business income. Income Tax Sec 2(22)(e) Ashwinikumar Ramkumar Poddar v.… Read More »
SBI Change in existing Nomination in the account (Form DA -3) SBI Change in existing Nomination in the account (Form DA -3) Based on the document provided, here are the key points regarding the SBI Request for change in Nomination (Form DA-3) for NRE, NRO, and FCNR (B) accounts: Purpose and Legal Authority Objective:… Read More »
SBI Cancellation of existing Nomination in the account (Form DA -2) SBI Cancellation of existing Nomination in the account (Form DA -2) Based on the document provided, here are the key points regarding the SBI Request for cancellation of Nomination (Form DA-2) for NRE, NRO, and FCNR(B) accounts: Purpose and Legal Authority Objective: This form… Read More »