Day: July 1, 2025

High Court grants regular bail to the accused of availing and utilization of fraudulent Input Tax Credit. In a recent judgment, Hon’ble High Court granted regular bail to the accused of availing and utilization of fraudulent Input Tax Credit of Rs. 18.22 crores as the accused had already …

Return can be revised under section 139(5) to claim rebate u/s 87A not claimed in original return due to error and omission. In a recent judgment, ITAT Bengaluru has held revision of return of income u/s 139(5) was valid as there was error and omission in the original …