Tax Guru8h
Tax Authorities Should Assess Stay Applications Individually, Not Apply Blanket 20% Deposit Rule
9. Thus, it is very well settled that the circulars issued by the CBDT have the force of law and are binding on the income ...
Tax Guru7h
FTC Denial for mere delayed form 67 submission not justified: ITAT Pune
Raj Surendra Mohan Hajela before ITAT Pune concerns the denial of Foreign Tax Credit (FTC) due to a delay in filing Form 67. The assessee, a tax resident of both India and the USA, claimed FTC of ...
Tax Guru7h
Section 50C Applies to Land Transfers, Not Land Rights: Karnataka HC
The High Court ruled that Section 50C applies only to the transferor of land and not to those with rights in land. Since Namaste Exports Ltd. was the transferor, the court held that Section 50C was ...
Tax Guru7h
Gauhati HC directs GST Registration Cancellation revocation on payment of dues
The Gauhati High Court recently ruled on a case involving Pallab Kumar Pandit, a contractor working with the Assam Public Works Department, who challenged the cancellation of his GST registration. The ...
Tax Guru8h
Ind AS 115: Application of 5 step Model on Renewable Energy Sector
Per Ind AS 115, “Revenue from Contracts with Customers”, the revenue recognition process is structured into the following five key steps: Identifying performance obligations (PARA 22 to PARA 45) ...
Tax Guru8h
Gauhati HC Permits Offline GST Registration Restoration on tax Compliance
Gauhati High Court heard a writ petition filed by Bhupinder Pal Singh, a business owner providing “Pandal or Shamiana Services,” challenging the cancellation of his GST registration. His registration ...
Tax Guru8h
Analysis of Amendment to Section 34(2) of CGST Act, 2017 in Finance Bill, 2025
As mentioned in the clause 121 of the finance bill, 2025 the amendment is proposed in sub-section (2) of Section 34 of the CGST Act, 2017. Let us have a look at the sub-section (2) of Section 34 of ...
Tax Guru8h
Parallel GST Proceedings on Same Issue by different tax authorities Not Sustainable
1. Learned counsels for parties are ad-idem that the challenge which is raised to the Show Cause Notice [ „SCN‟] in this writ petition would be governed by the decision rendered in DLF Home Developers ...
Tax Guru8h
Data Privacy and Cybersecurity Advisory for Corporate Professionals
– Information Technology Act, 2000: This act, along with the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011, forms the ...
Tax Guru11h
Non-Registration of Charges Doesn’t Deny Secured Creditor Status in CIRP: NCLAT Delhi
National Company Law Appellate Tribunal (NCLAT) Delhi has ruled that the non-registration of a charge under Section 77 of the ...
Tax Guru11h
Woman Can’t Claim Consent Was Taken on False Promise To Marry: MP HC
Criminal Case No. 48783 of 2024 and cited in Neutral Citation No. 2025:MPHC-JBP:6370 that was pronounced as recently as on 10.02.2025 has minced just no words to held in no uncertain terms that a ...
Tax Guru11h
Non-Payment of Salary Violates Right to Life: Rajasthan HC
Rajasthan High Court, in Sunil Dattatrey v. State of Rajasthan, ruled that the non-payment of salary to an employee amounts to deprivation of livelihood, violating Article 21 of the Constitution. The ...