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Income-Tax Bill 2025: A Comprehensive Overview

By | February 12, 2025

Income-Tax Bill, 2025: A Comprehensive Overview The Income-tax Bill, 2025, contains 536 clauses and 23 chapters and 16 Schedules. These clauses are organized into the following chapters: Chapter I: Preliminary Chapter II: Basis of Charge Chapter III: Incomes Which Do Not Form Part of Total Income Chapter IV: Computation of Total Income Chapter V: Income… Read More »

6 Important Income Tax Case Laws 05.02.2025

By | February 7, 2025

6 Important Income Tax Case Laws 05.02.2025 Sr No Case Law Title Brief Summary Citation Relevant Section and Act 1 HM Brothers (P.) Ltd. v. Deputy Commissioner of Income-tax Disallowance of depreciation upheld as the assessee failed to submit records of machinery usage.   Click Here Section 32 Income Tax Act, 1961 2 Sonansh Creations… Read More »

GST CASE LAWS 02.02.2025

By | February 5, 2025

GST CASE LAWS 02.02.2025 Sr No Case Law Title Brief Summary Citation Relevant Act 1 Ram Constructions v. Union of India Assessee held eligible to take Input Tax Credit for delayed returns filed for FY 2017-18. Click Here Section 16 Central Goods and Services Tax Act, 2017 2 Gateway Paradise Assam (P.) Ltd. v. State… Read More »

12 IMPORTANT GST CASE LAWS 31.01.2025

By | February 4, 2025

12 IMPORTANT GST CASE LAWS 31.01.2025 Re Sr No Case Law Title Brief Summary Citation Relevant Act And Section 1 Prayash Construction v. State of Odisha Department directed to ensure refund of differential GST amount. Click Here Section 9 Central Goods and Services Tax Act, 2017 2 Winet Communications v. Superintendent Amendment made by Finance… Read More »

HIGHLIGHTS OF ECONOMIC SURVEY 2024-25

By | February 1, 2025

HIGHLIGHTS OF ECONOMIC SURVEY 2024-25 Posted On: 31 JAN 2025 2:20PM by PIB Delhi INDIA’S REAL GDP AND GVA GROWTH ESTIMATED AT 6.4 PER CENT IN FY25 (FIRST ADVANCE ESTIMATES) THE REAL GDP GROWTH TO GROW BETWEEN 6.3 AND 6.8 PER CENT IN FY26 THRUST ON GRASSROOTS-LEVEL STRUCTURAL REFORMS AND DEREGULATION TO BOOST MEDIUM-TERM GROWTH… Read More »

7 IMPORTANT INCOME TAX CASE LAWS 30.01.2025

By | January 31, 2025

7 IMPORTANT INCOME TAX CASE LAWS 30.01.2025 Sr No Case Law Title Brief Summary Citation Relevant Section and Act 1 Torna Rajgad Parisar Samajonnati Nyas v. Commissioner of Income-tax (Exemptions) Commissioner (Exemption) directed to treat the application under clause (iii) of Section 12A(1)(ac). Application for Trust Registration under Section 12AB Allowed Despite Assessee mistakenly filed… Read More »

GSTR 9 and GSTR 9C Late Fees Calculations

By | January 30, 2025

GSTR 9 and GSTR 9C Late Fees Calculations CBIC Clarify late fee Applicability for delay in furnishing of FORM GSTR-9C by  CBIC Circular No. 246/03/2025-GST Dated 30th January, 2025 You’re absolutely right! I apologize for the previous examples where I didn’t accurately reflect the late fee structure under section 47 of the CGST Act and… Read More »

 Self-Certified Copy of Order not required while filing GST Appeal When Order Is Available on GST Portal

By | January 30, 2025

 Self-Certified Copy of Order not required while filing GST Appeal When Order Is Available on GST Portal Summary in Key Points: Issue: Whether the Appellate Authority can dismiss an appeal for non-submission of a certified copy of the order when the order is available on the common portal. Facts: The assessee’s appeal against an order… Read More »

Addition under Section 68 deleted as the share capital contribution was genuine.

By | January 30, 2025

Addition under Section 68 deleted as the share capital contribution was genuine. Summary in Key Points: Issue: Whether the Assessing Officer (AO) was justified in treating the share capital and share premium received by the assessee company as unexplained credits under Section 68 of the Income-tax Act, 1961. Facts: The assessee company raised capital through… Read More »