Tax Guru5h
No Service Tax Penalty If Tax dues Paid Before SCN: CESTAT Ahmedabad
CESTAT observed that since the appellant recorded the transactions in its books and voluntarily paid the tax and interest ...
Tax Guru6h
Bombay HC Quashes Reassessment Order, Directs Assessment Unit to Act Wisely & Follow Law
In the case of Ugar Sugar Works Limited Vs ACIT, the Bombay High Court quashed a reassessment order passed by the Income Tax ...
Tax Guru6h
Central Excise Claims Not Secured Debt: NCLAT Delhi
NCLAT decisions, to emphasize that claims under Section 11E of the Central Excise Act and similar provisions are not ...
Tax Guru6h
AP High Court Sets Aside GST Order for Missing DIN & Officer’s Signature
The petitioner was served with assessment orders in Form GST DRC-07, dated 07.06.2022, 07.06.2022 and 08.01.2022, passed by ...
Tax Guru53m
Explanatory Memoranda to Customs & Central Excise Notifications
Explanatory Memoranda to various Notifications issued on 1st February 2025 detail significant amendments in customs and excise duties, along with specific exemptions for various goods. Notification ...
Tax Guru59m
NO INCOME TAX ON ANNUAL INCOME UPTO Rs. 12 LAKH UNDER NEW TAX REGIME
LIMIT TO BE Rs. 12.75 LAKH FOR SALARIED TAX PAYERS, WITH STANDARD DEDUCTION OF RS. 75,000 UNION BUDGET 2025-26 BRINGS ACROSS-THE-BOARD CHANGE IN INCOME TAX SLABS AND RATES TO BENEFIT ALL TAX-PAYERS ...
Tax Guru1h
Denial of exemption u/s. 54B for purchase of agricultural land in name of wife not justified
ITAT Delhi held that denial of exemption under section 54B of the Income Tax Act for purchase of agricultural land in the name wife of the assessee is not justifiable. Accordingly, denial of benefit ...
Tax Guru1h
Society not entitled to exemption under sections 11 and 12 due to non-filing of return of income
ITAT Raipur held that exemption under section 11 and section 12 of the Income Tax Act not admissible to assessee society due to non-furnishing of return of income as required u/s. 12A (1) (b) of the ...
Tax Guru1h
FDI Limit in Insurance Sector Raised to 100% in Budget
Smt. Nirmala Sitharaman informed that the FDI limit for the insurance sector will be raised from 74 to 100 per cent. This enhanced limit will be available for those companies which invest the entire ...
Tax Guru2h
Budget 2025-26 Proposes 8 Key GST Amendments
Union Budget 2025-26 introduces key amendments to GST laws to enhance trade facilitation. Starting from April 1, 2025, input tax credit distribution will be allowed by Input Service Distributors for ...
Tax Guru2h
Income Tax Reforms in Budget 2025-26 for Good Governance
SLEW OF DIRECT TAX REFORMS PROPOSED IN UNION BUDGET 2025-26 TO ACHIEVE GOOD GOVERNANCE Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman presented the Union Budget 2025-26, in ...
Tax Guru2h
Reforming Arbitration in India: Analyzing Proposed Amendments in 2024 Draft Bill
Amendment to Section 9 (1) of the Act Section 9 (1) – A party may, before, or during arbitral proceedings or at any time after the making of the arbitral award but before it is enforced in accordance ...