Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The ITAT has condoned a 247-day delay in a farmer's appeal due to the failure of his Chartered Accountant to respond to income tax notices. The matter has been remanded for fresh hearing, emphasizing the importance of representation in tax disputes.
The Telangana High Court has set aside the rejection of a GST appeal, reviving the case after acknowledging a 10% pre-deposit made before the dismissal.
The Telangana High Court has permitted an appeal against the GST SPL-07 order, granting a delay condonation application and establishing a procedure for statutory compliance.
The central question surrounding the taxation of funds received from abroad by Indian residents has been clarified, including FEMA rules, necessary documentation, and reporting obligations. This guidance will help parents and family members manage their remittances appropriately.
The ITAT ruled that ad-hoc additions for undervaluation of closing stock are unsustainable if specific undervaluation is not identified. The ruling emphasizes the need for detailed assessment in tax evaluations.
The Income Tax Appellate Tribunal (ITAT) has condoned a 247-day delay in a farmer's tax appeal after his Chartered Accountant failed to respond to tax notices. The matter has been remanded for a fresh hearing.
The Allahabad High Court has dismissed a GST writ on the grounds of non-participation by the petitioner, finding no statutory barrier in scheduling reply and personal hearing on the same date.
The ITAT ruled that a delay in submitting a tax audit report does not justify imposing a penalty under Section 271B if the audit was completed timely. This ruling clarifies compliance expectations for tax professionals.
A new case digest elaborates on instances where errors made by Chartered Accountants or tax consultants can be deemed a 'reasonable cause' for delays or penalties. This can significantly impact tax compliance practices.
The Income Tax Appellate Tribunal (ITAT) accepted the source of ₹23 lakh deposited in a wife's account, citing the sale of trees and mangoes as legitimate proof. This ruling highlights the importance of documentary evidence in validating financial transactions.
The Reserve Bank of India has issued guidelines permitting exporters to write off unrealized export proceeds under certain conditions. The guidelines specify limits on the write-offs, documentation requirements, and the necessity to surrender export incentives.
The ITAT has ruled that a delay in submitting a tax audit report does not warrant penality under Section 271B if the audit was completed on time.