ITAT ruled that interest disallowance cannot be made when sufficient interest-free funds are available. The key takeaway is that availability of own funds overrides assumptions of borrowed fund ...

ITAT Bangalore held CSR trust denial unjustified, ruling donation genuineness proven and no 3-year track record needed. Directed grant of Section 12AB registration and 80G ...

ITAT ruled that failure to file a return does not justify taxing income without allowing legitimate deductions. The case was sent back to the AO to consider exemptions and deductions available in ...

The court held that an adjudication order passed without considering the taxpayer’s reply is unsustainable. It remitted the matter for fresh consideration with an opportunity to ...

The issue was whether interest from co-operative banks is eligible for deduction under Section 80P(2)(d). The Tribunal held that co-operative banks are co-operative societies, making the deduction ...

The case addressed whether services like rent-a-cab, catering, and business support qualify as input services for SEZ refund claims. The Tribunal held they are eligible for refunds when used in ...

The update discusses GST rulings on ITC and refunds, income tax relief interpretations, and insolvency reforms. It also covers discussion papers proposing major structural changes. The takeaway is ...

The ruling clarifies that an annual return is incomplete without the reconciliation statement where required. Late filing of GSTR-9C was treated as delayed filing of the return itself, justifying ...

The issue was whether transportation and insurance charges should be excluded from assessable value. The Tribunal held they must be included since delivery occurred at the buyer’s premises, making ...

The tribunal held that failure to consider relevant documents denied proper adjudication. It set aside the orders and allowed fresh examination of compliance ...

The case addressed whether omission of Rule 96(10) affects ongoing disputes over IGST refunds. The Court held that the omission applies to pending proceedings, allowing refund claims to ...

The issue was whether restricted classification of sugar disqualified exporters from incentives. The Court ruled that conditional restrictions allowing permitted exports do not negate RoDTEP ...