• Income Tax

Prior period income cannot be considered as income of the current year

1 month ago

When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…

  • Income Tax

SC condoned delay of 972 days in filing appeal due to restructuring in Department

1 month ago

Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…

  • Income Tax

No addition on mere valuation report when stamp duty valuation is available

1 month ago

Addition can not be made relying on the valuation report of property when the stamp duty valuation is also available…

  • Income Tax

ITAT deleted penalty for making a wrong claim of deduction u/s 54F/54B

1 month ago

Wrong claim of deduction u/s 54F/54B was not a case of concealment of particulars of income or furnishing inaccurate particulars…

  • GST

Value of taxable supply and rates notified Pan Masala / tobacco products

1 month ago

CBIC notifies GST rates and value of taxable supply for Biris, Pan Masala / tobacco products  Ministry of Finance(Department of…

  • Excise/Custom

CBIC issues SOP for wearing Body Cam by Custom officers in Baggage Clearance

1 month ago

CBIC has issued a Standard Operating Procedure (SoP) for wearing Body Cam by Custom officers responsible for Baggage Clearance According…

  • Companies Act

MCA amends rules regarding Directors KYC and updation

1 month ago

MCA amends rules regarding Directors KYC and updation MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 31st December, 2025 G.S.R. 943(E).—In…

  • ICAI

ICAI again defers Phase IV of Peer Review Mandate to 31.12.2026

1 month ago

Deferment of ICAI Phase IV Peer Review Mandate to 31.12.2026 The ICAI has decided that Phase IV of the Peer…

  • Income Tax

When foundation of reopening does not survive, no addition can be made for other issues

1 month ago

When foundation of reopening does not survive, no addition can be made in respect of other issues - ITAT In…

  • GST

GST Advisory & FAQs on Electronic Credit Reversal & Re-claimed Statement & RCM Liability

1 month ago

GSTN Advisory & FAQs related to Electronic Credit Reversal and Re-claimed Statement and RCM Liability/ITC Statement To ensure correct and…