Government Contractors Entitled to GST Reimbursement for Pre-GST Contracts Affected by Regime Change Issue: Whether government contractors who were awarded contracts prior to the implementation of the GST regime (July 1, 2017) are entitled to reimbursement of the additional GST impact on those contracts, especially when the execution of the work was ongoing when GST… Read More »
Assessee Providing Support Services to Overseas Parent Not an Intermediary for IGST Refund Issue: Whether an Indian subsidiary, providing support services to its foreign parent company (which deals with foreign universities and students) for facilitating Indian students’ enrollment in foreign courses, qualifies as an “intermediary” under the Integrated Goods and Services Tax Act, 2017, thereby… Read More »
ITR FILING when 26AS INCOME can be SKIPPED in ITR FILING ! INCOME TAX RETURN UPDATE
IMPORTANT INCOME TAX CASE LAWS 22.05.2025 Section Case Law Title Brief Summary Citation Relevant Act 5 Deputy Commissioner of Income-tax v. Rare Enterprises Interest income from NPA company not taxable on accrual basis if no chance of recovery.No TDS Credit can be Taken Click Here Income-tax Act, 1961 10(38) Principal Commissioner of Income-tax 9 v.… Read More »
Capitation Fee by Educational Trust: Not a Charitable Object, Exemption Denied Issue: Whether a charitable trust engaged in education, specifically running a Dental Science College, is entitled to the benefit of exemptions under Sections 11 and 12 of the Income-tax Act, 1961, if it collects unaccounted “capitation fees” from students for management seats. Facts: For… Read More »
Prosecution Sanction for Delayed TDS Deposit: Not Justified if Voluntarily Deposited with Interest Before Show Cause Notice Issue: Whether a delayed deposit of TDS, even with interest, is sufficient grounds for the Commissioner (TDS) to grant sanction for prosecution under Section 276B of the Income-tax Act, 1961, against the assessee and its directors, especially when… Read More »
Consequence of Failure to Deduct or Pay TDS: Notice Under Section 201 Invalid if Lower Deduction Certificate Obtained Issue: Whether a notice issued under Section 201 of the Income-tax Act, 1961, for failure to deduct or pay TDS, is valid when the assessee had deducted tax at a lower rate based on a certificate obtained… Read More »
Credit for TDS: AO Directed to Accept Company’s Verification and Grant Credit Despite TRACES Data Unavailability Issue: Whether an assessee-firm can be denied credit for TDS for Assessment Year 2007-08 (Financial Year 2006-07) merely because the TDS data is not available on the TRACES portal (which commenced from FY 2007-08), even if the deducting company… Read More »
Reassessment of Cooperative Bank: Invalid if Based on Change of Opinion and No New Material Facts Issue: Whether a reopening notice issued after four years (beyond the four-year limit for cases where original assessment was completed under Section 143(3) and no failure to disclose material facts is alleged) to a cooperative bank for issues related… Read More »
Cash Credit Addition on Share Capital Not Involving Cash: Deleted Issue: Whether an addition under Section 68 of the Income-tax Act, 1961, can be made on account of unexplained cash credits in the form of share capital and share premium, when the assessee-company received shares of other private limited companies in lieu of its own… Read More »