GST refunds are a lifeline for many Indian businesses, especially exporters and service providers. Yet, the process is often fraught with delays and uncertainty—sometimes due to the Department’s discretionary powers…
GST Appeals and the Four-Month Limitation: A Turning Point in Tax Litigation The Goods and Services Tax (GST) regime, while aiming for uniformity and efficiency, has often left taxpayers and…
The principle of natural justice—no one should be condemned unheard—is a cornerstone of Indian tax law. Its relevance is especially pronounced in GST proceedings, where the stakes for businesses and…
The Income Tax Appellate Tribunal (ITAT) Ahmedabad’s May 2024 decision in the case of OM Tapovan Charitable Trust has sent a clear message to the charitable sector: even a single…
The Karnataka High Court’s recent decision on the interplay between penalty proceedings under Section 270A of the Income Tax Act and pending assessment appeals has brought much-needed clarity for taxpayers…
Penny stocks have long been a magnet for tax scrutiny in India. Their low price, high volatility, and occasional misuse for accommodation entries have made them a favourite target for…
The Supreme Court’s recent affirmation of the ITAT’s remand in the American Express Banking Corporation (India Branch) case marks a pivotal moment for transfer pricing jurisprudence in India, especially concerning…
Fresh SEZ Unit with New Capital vs. Reconstruction — ITAT Chennai in Lotus Footwear on Section 10AA: What Truly Qualifies and How to Prove It The recent ITAT Chennai ruling…
ITAT Cochin Quashes Notional Interest Disallowance—Interest on Borrowed Funds for Renovation of Leasehold Premises Allowed as Revenue Expense Section Reference Note: Before we begin, let’s clarify a common confusion. The…
The Telangana High Court’s recent decision to quash reassessment proceedings under Sections 148A and 148 of the Income Tax Act, 1961, for failing to comply with the faceless assessment mandate,…
Small Businesses, Big Relief: Understanding Presumptive Taxation and the High Court’s Landmark Ruling For lakhs of small business owners across India, the compliance burden of income tax can feel…
Surveys under the Income Tax Act often unearth unaccounted stock, leaving both businesses and tax professionals grappling with a crucial question: Should such excess stock be taxed as regular business…