A practical guide to ensuring Bill of Entry data flows correctly from ICEGATE to GSTR-2B. Proper verification prevents ITC ...

IRS Publication 523 allows taxpayers to exclude up to 500,000 of gain if ownership and residence tests are met. The article ...

The Tribunal held that failure to provide opportunity to cross-examine foreign information sources amounted to violation of ...

The new framework mandates that proceedings under Section 74A must be initiated by officers formally designated through ...

The ITAT Kolkata held that where assessment is completed under Section 143(3), alleged earlier non-compliance with notices stands impliedly condoned. Penalty under Section 271(1)(b) was therefore ...

ITAT held that once identity, genuineness and creditworthiness of the loan creditor were established, addition under Section 69 was unsustainable. The creditors disclosure before the Settlement ...

ITAT held that approval by the Principal Commissioner was invalid where more than three years had elapsed from the assessment year. Since Section 151(ii) required sanction from PCCIT/CCIT, the ...

Pursuant to High Court observations and fresh investigation, GSTAT held that the developer did not gain additional ITC benefit warranting price ...

The Tribunal held that reopening based solely on investigation wing information without independent application of mind is invalid. Mechanical reasons cannot justify reassessment under Section ...

While the Bharatiya Sakshya Adhiniyam follows the rule that the asserting party must prove its claim, Section 155 of the CGST Act places the burden of proving ITC eligibility on the ...

The ITAT reaffirmed that Section 2(22)(e) cannot extend the definition of shareholder to a concern receiving the loan. The deemed dividend, if attracted, must be taxed in the hands of the substantial ...

The Tribunal held that once the return is accepted as valid under Section 139(1), denial of carry forward loss on belated filing grounds is contradictory and ...