Month: December 2025

When information contained in loose papers not corroborated with assessee, there is absolutely no room for presumption that it belongs to the assessee. In a recent judgment, ITAT Agra has held that information contained in loose papers if not corroborated with the assessee, there is absolutely no room …

When CIT(A) order to remand case to AO was set aside without interfering with direction to delete addition, order of AO did not automatically revive. In a recent judgment, Kolkata High Court has held that when High Court set aside CIT(A) order to remand the case but did …

Whether a prohibited claim in a contract applies only to the employer and not to the Arbitral Tribunal – Matter to be decided by larger bench of Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that in Bharat Drilling case is not an authority …

Where a contractual employee is terminated on the sole ground of ineligibility, the Court is entitled to examine its correctness – SC In a recent judgment, Hon’ble Supreme Court has held that where a contractual employee is terminated on the sole ground of ineligibility, the Court is entitled …

Upon deceased acquiring family, GPF nomination in favour of mother became invalid and in absence of fresh nomination, mother and spouse had equal claim – SC In a recent judgment, the Hon’ble Supreme Court has held that upon the deceased acquiring family his earlier GPF nomination in favour …

GSTN Advisory on Auto Suspension of GST Registration due to Non-Furnishing of Bank Account Details as per Rule 10A As per Rule 10A, taxpayers (except those registered under TCS, TDS, or Suo-moto registrations) must furnish their bank account details within 30 days of grant of registration or before …

ITC can’t be denied on ground that supplier’s registration was cancelled subsequently when supplier had filed GSTR-1 and GSTR-3B for the relevant period. In a recent judgment, Allahabad High Court has held that ITC can’t be denied on ground that the supplier’s registration was cancelled subsequently to the …

Amount of Rs. 6 lakh claimed to have been received as gift from parents in law not an excessively or unreasonably high amount – ITAT In a recent judgment, ITAT Lucknow has held that amount of Rs. 6,00,000/- claimed by assessee to have been received as gift from …

Assessee was entitled to GST exemption on renting of residential dwelling as hostel to students and working professionals In a recent judgment, Hon’ble Supreme Court has held that the assessee was entitled to GST exemption on renting of residential dwelling as lessee in turn leased out the property …

RBI increases number of basic minimum facilities to be offered in a Basic Savings Bank Deposit (BSBD) account, free of charge, without any requirement of minimum balance What is a BSBDA Account? The Basic Savings Bank Deposit (BSBD) Account (also often referred to as Basic Savings Bank Deposit …