Month: May 2025

Even when the trust is not registered u/s 12A, taxes can be levied on the net income and taxing of the entire receipts without any deduction towards expenditure is wrong and illegal – ITAT In a recent judgment ITAT Chandigarh has held that even when the Trust is …

Merely stating head of income from which unexplained investment was generated without stating the actual source does not amount to an explanation within the meaning of section 69.  In a recent judgment ITAT Allahabad has held that merely stating the head of income from which the unexplained investment …

CBDT issues awareness material on making a rightful claim of refunds in Income Tax Returns It has been seen in past that salaried persons in particular, filed their Income Income Tax Returns (ITRs) claiming large amount of refund towards tax deducted at source. On scrutiny it transpired that …

No infirmity in reopening on the reasoning that no return was filed by the assessee when assessee was using two different PANs, one for bank operation and other for filing ITR – ITAT  In a recent judgment ITAT Allahabad has held that there was no infirmity in the …

Electric Vehicle to be eligible for tax exemption in Uttar Pradesh must fulfil twin conditions of both purchase and registration of vehicle in Uttar Pradesh  In a recent judgment Allahabad High Court has held that in order to be eligible for tax exemption to electric vehicles, twin conditions …

In terms of Section 75(4) of GST Act, 2017 it is incumbent to grant an opportunity of personal hearing even if the same is not asked for.  In a recent judgment, Hon’ble Allahabad High Court has reiterated that in terms of the mandate of Section 75(4) of GST …

ICAI issued revised Schedule of Chartered Accountants May 2025 exams after postponement   ICAI has issued revised schedule of remaining CA May 2025 Examinations in view of the Ceasefire between India and Pakistan. In the announcement dated 10.05.2025, it has ben stated that in view of the favourable developments …

Jurisdiction assumed u/s 148 on borrowed satisfaction without any live link between information and material on record – Supreme Court declined to entertain Department  In a recent judgment, Hon’ble Supreme Court declined to interfere with High Court order quashing notice under section 148 when Assessing Officer assumed jurisdiction …

CBDT notifies PDF format of ITR-7 for AY 2025-26 CBDT has notified PDF format of ITR-7 for AY 2025-26 applicable for persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) Ministry of FinanceDepartment of RevenueCentral Board of Direct Taxes Notification No. …

Under GST provisions determination of tax can not take place against a deceased person. Section 93 only deals with liability to pay tax In a recent judgment, Allahabad High Court has held that under GST provisions determination of tax can not take place against a deceased person. The …