CBIC has issued detailed guidelines for the handling applications for GST registration. In a circular issued in this regard, the CBIC has stated that it had been observed that the reasons for rejection and the nature of queries raised during GST registration processing, indicated that delays or rejections …

Notice u/s 148 set aside as it was issued on the basis of same facts and material which were already examined by the CIT(A) in favour of the assessee. In a recent judgment, Hon’ble High Court has set aside notice issued u/s 148 for reopening the assessment, on …

CoC after approving Resolution Plan can’t seek withdrawal of the same on improved financial position of the Corporate Debtor – SC In a recent judgment, the Hon’ble Supreme Court has held that an improved profitability alone cannot be a reason to refuse approval if the Resolution Plan meets …

We cannot be blind to reality of money laundering through accommodation entries, mere paper trail not enough – ITAT In a recent judgment upholding the addition u/s 68, the Tribunal held that it cannot be blind to the reality of money laundering through accommodation entries, and it was …

A claim of deduction made in return, even if found inadmissible, does not automatically lead to misreporting of income – ITAT In a recent judgment, ITAT deleted penalty u/s 270A holding that a claim of deduction made in the return, even if ultimately found to be inadmissible, does …

After holding that the cash receipts and cash payments are unexplained, ad-hoc estimation of income can not be adopted – High Court In a recent judgment, Hon’ble High Court has held that ITAT after holding that the cash receipts and cash payments are unexplained, can not, adopt an …