CAG Report Highlights Increase in Tax and Non-Tax Revenues A report by the Comptroller and Auditor General of India (CAG) indicates that there has been an increase in both the tax revenue and non-tax revenue collections for the government. Key Findings of the Report Rise in Tax Revenue: The growth in tax revenue is attributed… Read More »
GST and Coal Cess Changes Expected to Lower Power Tariffs: CERC The Central Electricity Regulatory Commission (CERC) expects that the various changes implemented under the Goods and Services Tax (GST) regime, particularly those related to the taxation of coal, will lead to a reduction in power tariffs for consumers. Key Factors Driving Lower Tariffs Removal… Read More »
The ITAT dismissed the assessee’s appeals after a withdrawal request was filed. The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed three appeals filed by the assessee, Shri Baljit Singh Sidhu, for the assessment year 2012-13, after the assessee formally requested their withdrawal. Withdrawal Request The assessee, Shri Baljit Singh Sidhu, had… Read More »
An assessee’s appeals were dismissed after a withdrawal request was filed. Issue What is the procedural outcome when a taxpayer files a formal application to withdraw their own pending appeals before the Income Tax Appellate Tribunal (ITAT)? Facts The assessee, Shri Baljit Singh Sidhu, had filed three appeals before the ITAT, Chandigarh Bench, against orders… Read More »
An assessee’s appeals were dismissed by the ITAT after a withdrawal request. Issue What is the procedural outcome when a taxpayer files a formal application to withdraw their own pending appeals before the Income Tax Appellate Tribunal (ITAT)? Facts The assessee, Shri Baljit Singh Sidhu, had filed three appeals (ITA Nos. 677-679/Chd/2025) before the ITAT,… Read More »
ITR FILING DATE EXTENDED AY 2025-26 AUDIT CASES NEW ORDER
A court directed a taxpayer to use an interim circular to stay recovery and await the formation of the GST Appellate Tribunal. On Interim Relief When the GST Tribunal is Not Constituted A taxpayer who wants to appeal an order but cannot because the GST Appellate Tribunal isn’t functional can get interim protection from recovery… Read More »
A taxpayer cannot challenge a reassessment order as time-barred if their own request for a personal hearing caused the order to be passed after the initial one-month time limit. Issue Is an order passed under Section 148A(d) of the Income-tax Act, 1961, barred by limitation if it is passed more than one month after the… Read More »
Professional negligence by a counsel is a valid reason to condone an appeal delay. Issue Should a delay in filing an appeal be condoned if the reason for the delay is the professional negligence or oversight of the taxpayer’s authorized representative? Facts An assessee’s appeal before the First Appellate Authority was dismissed solely on the… Read More »
Section 50’s deeming fiction doesn’t affect the tax rate under Section 112. Issue Does the deeming provision of Section 50 of the Income-tax Act, 1961, which treats the gain on the sale of a depreciable asset as a Short-Term Capital Gain (STCG), also mandate that it must be taxed at the higher rates applicable to… Read More »