Tax Guru

SEBI Warns Regulated Entities and Listed Companies About Boss Scam Fraud

SEBI cautions regulated entities and listed companies about CEO/MD impersonation scams and advises verification of fund transfer requests and cyber safety ...
Tax Guru

GST on Life Insurance Premiums: Everything a Policyholder Must Know

GST exemption from 22 September 2025 removes GST on individual life insurance premiums, while group policies continue at 18% ...
Tax Guru

Hyderabad ITAT: Reassessment Beyond Three Years Invalid Where Actual Escaped Income Is Below ₹50 Lakh

Hyderabad ITAT quashed Section 148 reassessment, holding actual escaped income below ₹50 lakh cannot justify extended ...
Tax Guru

Search Additions Cannot Rest on Statements Alone; Corroborative Evidence Essential: Karnataka HC

Karnataka HC rejected Revenue's appeals, holding statements alone could not sustain suppression of sales or Section 69A additions without corroborative ...
Tax Guru

Customs Duty Demand Set Aside as Time-Barred in FTA Certificate of Origin Dispute: CESTAT Ahmedabad

CESTAT Ahmedabad set aside the customs duty demand denying AIFTA benefits on imported alkalised cocoa powder, holding that the extended limitation period under Section 28(4) was not invocable and the ...
Tax Guru

Certificate of Origin Cannot Be Discarded Without Prescribed Verification Under India–Thailand FTA: CESTAT Mumbai

CESTAT Mumbai set aside denial of preferential duty on Thai gold jewellery imports, holding that valid Certificates of Origin could not be discarded without following the prescribed verification ...
Tax Guru

Section 68 Addition Deleted as Demonetisation Cash Deposits Matched Recorded Sales: ITAT Lucknow

ITAT Lucknow held that cash deposits from recorded sales during demonetisation could not be taxed under Section 68 where books and stock records were accepted, and also deleted the CIT(A)s 20% premium ...
Tax Guru

Cash Sales During Demonetisation Cannot Be Rejected on Mere Suspicion: ITAT Delhi

ITAT Delhi deleted the addition made on cash deposits during demonetisation, holding that rejection of books under Section 145(3) was unsupported by any specific defects or inaccuracies in the audited ...
Tax Guru

Section 69A Addition Deleted as Demonetisation Cash Deposits Matched Recorded Sales: ITAT Chennai

ITAT Chennai dismissed the Revenues appeal, holding that cash deposits from recorded jewellery sales during demonetisation could not be taxed under Section 69A where books, stock records and statutory ...
Tax Guru

Block Assessment Quashed for Lack of Section 143(2) Notice: Delhi HC

Delhi HC quashed a block assessment under Section 158BC, holding Section 143(2) notice was mandatory and post-search material could not sustain the ...
Tax Guru

25 Important Income Tax Return Filing Checklist Points for Taxpayers

A checklist of key ITR filing points covering disclosures, deductions, AIS reconciliation, tax credits, reporting requirements and relevant Income-tax Act ...
Tax Guru

AO Cannot Reject Assessee’s Chosen Rule 11UA Valuation Without Defect: ITAT Delhi

ITAT Delhi upheld deletion of Section 56(2)(viib) addition, holding the provision applied on share allotment and the assessee could choose the Rule 11UA valuation ...