I. Loss from Section 10A units can be set off against other income Issue Whether the loss incurred by eligible units claiming deduction under Section 10A can be set off against the income of other units or other heads of income of the taxpayer. Decision Held: Yes. Reasoning: The provision under Section 10A is a… Read More »
CBIC Expedites Pre-GST Litigation in Bengaluru Zone Order Issued: The Central Board of Indirect Taxes and Customs (CBIC) has issued Order No. 06/2025 on November 28, 2025, to assign specific appellate cases filed on or after July 1, 2017, under the Central Excise Act, 1944, and Finance Act, 1994, to designated Central Excise Officers. Purpose:… Read More »
NOTIFICATION NO 22 FINANCE DEPTT FINANCE (EXPENDITURE-I) DEPARTMENT NOTIFICATION Delhi, the 1st December, 2025 No. 22/2024-State Tax F.No. 3 (36)/Fin.(Exp-I)/2025-26/DS-I/1154.— In exercise of the powers conferred under the section 148 of the Delhi Goods and Services Tax Act, 2017 (03 of 2017) (hereinafter referred to as the said Act), the Lieutenant Governor of National Capital… Read More »
Appointment of Authority under Delhi GST Act FINANCE (EXPENDITURE-I) DEPARTMENT NOTIFICATION Delhi, the 1st December, 2025 No. 19/2024-State Tax F.No. 3(34)/Fin.(Exp-I)/2025-26/DS-I/1152.— In exercise of the powers conferred by proviso to sub-section (2) of section 171 of the Delhi Goods and Services Tax Act, 2017 (03 of 2017), the Lieutenant Governor of National Capital Territory of… Read More »
Notification No 21 Finance Deptt FINANCE (EXPENDITURE-I) DEPARTMENT NOTIFICATION Delhi, the 1st December, 2025 No. 21/2024-State Tax F.No. 3(35)/Fin.(Exp-I)/2025-26/DS-I/1153.— In exercise of the powers conferred by sub-section (1) of section 128A of the Delhi Goods and Services Tax Act, 2017 (03 of 2017) (the said Act), the Lieutenant Governor of National Capital Territory of Delhi,… Read More »
Misleading court with fake video of business premises invites writ dismissal with heavy costs Issue Whether a writ petition seeking cancellation of GST registration is maintainable when the petitioner attempts to mislead the Court by fabricating evidence (video of a sign board) to cover up the non-existence of business at the registered premises and evade… Read More »
Penalty deleted as inadvertent non-disallowance of statutory liabilities in return constitutes bona fide mistake Issue Whether the imposition of penalty under Section 271(1)(c) for concealment of income is justified when the assessee inadvertently failed to disallow statutory liabilities (gratuity, leave encashment) in the return of income, despite the details being available in the tax audit… Read More »
Leasehold rights outside Section 50C ambit; Allotment date valid for Section 54G exemption Issue Section 50C Applicability: Whether the provisions of Section 50C (adopting stamp duty value) apply to the transfer of leasehold rights in land, as opposed to the land itself. Section 54G Timelines: Whether the date of allotment of a new industrial plot… Read More »
Cash deposits matching books of account cannot be taxed as unexplained money despite demonetization spike Issue Whether the Assessing Officer was justified in making an addition under Section 69A of the Income-tax Act, 1961, treating cash deposits made during the demonetization period as unexplained money, despite the assessee maintaining books of account reflecting corresponding cash… Read More »
RBI Mandates Uniform Savings Interest: Clarity for Small Account Holders Standardized Interest Rate for Small Deposits The Reserve Bank of India (RBI) has directed all commercial banks to apply a uniform interest rate on savings account deposits up to ₹1 lakh. This new rule eliminates the interest rate difference among banks for small depositors, resolving… Read More »