xAI’s Grok 3: A New Era for AI Chatbots Here’s a breakdown of xAI’s Grok 3 launch, presented in bullet points: xAI’s Grok 3: Advancing the AI Frontier Launch of Grok 3: xAI, founded by Elon Musk, has launched Grok 3, its latest AI model. Positions xAI as a direct competitor to OpenAI and DeepSeek.… Read More »
Perplexity AI’s Deep Research Tool: Revolutionizing In-Depth Analysis Perplexity AI has launched “Deep Research,” a new tool designed to dramatically accelerate comprehensive research and analysis. Key features and implications include: Accelerated Research: The tool generates detailed research reports in under three minutes, significantly reducing the time required for in-depth analysis. It automates extensive searches, source… Read More »
GST Appellate Tribunal Website The Goods and Services Tax Appellate Tribunal (GSTAT) has been constituted by the Government of India under section 109 of the Central Goods and Services Tax Act, 2017 to hear appeals against the orders passed by the Appellate or Revisional authorities under sections 107 or 108 of the said Act. The… Read More »
Capital Gains Addition Deleted as it was based on a SEBI warning letter: No Evidence Found to Support Bogus Transaction Claim Summary in Key Points: Issue: Was the addition made on account of capital gains from the sale of shares justified, based on a SEBI warning letter, without further evidence to prove the transactions were… Read More »
Charitable Trust: Income Accumulation Allowed on Gross Receipts, Loan Utilization Clarified Summary in Key Points: Issue 1: Calculation of Accumulated Income Should the assessee, a charitable trust, be allowed to accumulate income under Section 11(1)(a) at 15% of gross receipts or net income? Decision: Following the precedent in BS & G Foundation, the accumulation was… Read More »
New claims by Income Tax Department after approval of Resolution Plan cannot be considered. Summary in Key Points: Issue: Can the Income Tax Department raise new claims for dues arising prior to the approval of a resolution plan under the Insolvency and Bankruptcy Code (IBC)? Facts: The assessee-company underwent insolvency proceedings under the IBC. The… Read More »
11 IMPORTANT GST CASE LAWS 11.02.2025 Sr No Case Law Title Brief Summary Citation Relevant SectionA AND Act 1 CBIC Instruction No. 02/2025-GST Dated 07.02.2025 CBIC directed department to withdraw appeals filed for wrong calculation of interest & penalty if tax is paid as per Section 128A Click here Central Goods and Services Tax Act,… Read More »
Detention of Goods and Conveyance: Factual Disputes Require Adjudication, Not Writ Intervention Summary in Key Points: Issue: Should the High Court intervene in a writ petition challenging the detention of goods and conveyance when there are disputed questions of fact regarding compliance with Section 129 and the origin of goods? Facts: The petitioner challenged the… Read More »
GST Appeal Stayed: Interim Relief Granted Due to Non-Constitution of Tribunal Summary in Key Points: Issue: Should interim relief be granted to the assessee who is unable to file an appeal due to the non-constitution of the Appellate Tribunal? Facts: The assessee sought to appeal an order passed by the first appellate authority. However, the… Read More »
GST Appeal Stayed: Interim Relief Granted Due to Non-Constitution of Tribunal Summary in Key Points: Issue: Should interim relief be granted to the assessee who is unable to file an appeal due to the non-constitution of the Appellate Tribunal? Facts: The assessee sought to appeal an order passed by the first appellate authority. However, the… Read More »