Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
A new report details how editable fields in the GSTR-3B form facilitate tax evasion by suppliers, jeopardizing GST compliance for honest taxpayers. This raises concerns over enforcement and compliance.
The Telangana High Court dismissed a writ petition challenging a GST assessment order due to delay, citing the Glaxo Smith Kline decision. This emphasizes the need for timely action in GST matters.
The Calcutta High Court has upheld the jurisdiction of the Principal Commissioner of Income Tax (PCIT) to revise 'unallocated' head office expenses within tax holiday units, ensuring the integrity of tax assessments.
A recent analysis examines how India's structured tax system aligns with global models of cross-border taxation, underscoring its progressive compliance features. This is relevant for international tax practitioners and businesses engaged in cross-border activities.
The Calcutta High Court has issued a stay on coercive actions by tax authorities against the petitioner concerning time-barred reassessment proceedings. This decision underscores the significance of adherence to statutory time limits.
The Chhattisgarh High Court granted regular bail in a ₹7.59 crore fake Input Tax Credit case, determining further custodial interrogation was unnecessary.
The ITAT ruled that the Principal Commissioner of Income Tax (PCIT) cannot revise an assessment based on a deduction that the taxpayer never claimed. This decision clarifies the limitations of PCIT's powers in assessment revisions.
The RBI Governor met with representatives from export organizations to discuss strategies for enhancing exports and strengthening industry relationships.
The RBI has released a calendar for Treasury Bills issuance covering the next quarter, providing key dates for investors to strategically plan their investments.
The RBI has announced the auction of Treasury Bills, including various tenors, which highlights ongoing financial strategies by the government to optimize funding avenues.
The Pune ITAT declined to condone a significant delay in appealing a Section 12AB rejection citing insufficient justification.
This ruling affirms that minor typographical errors in tax audit reports cannot invalidate PF deductions.