ITAT Hyderabad held that penalty under section 221(1) of the Income Tax Act duly leviable for non-payment of self-assessment ...

Chennai ITAT ruled a S. 271D penalty time-barred, holding that the six-month limitation period starts from the AO's recorded ...

AAR states that pre-packaged and labelled goods for export, including frozen shrimp up to 25 kg, fall under the Legal Metrology Act and are thus subject to GST under Notification ...

The Andhra Pradesh AAR has ruled that the export of processed frozen shrimps, packaged in quantities up to 25kg, attracts GST liability as it falls under the pre-packaged and labelled definition of ...

The Tribunal ruled that the cross-charged fee for use of third-party software does not qualify as Royalty as the payment is for a copyrighted article and not the transfer of copyright rights. This ...

The ITAT Mumbai quashed a revisionary order under Section 263, ruling that the Assessing Officer's detailed scrutiny into the Rs.124 crore business loss was adequate.2 The Tribunal confirmed that when ...

BCAS submits comments on RBI’s draft External Commercial Borrowings (ECB) regulations, seeking clarity on eligibility, KYC norms, borrowing limits, pricing, and reporting ...

The ITAT allowed the assessee's appeal, holding that the PCIT's order under Section 263 was unsustainable because it failed to cite any specific instance where the AO neglected to verify the alleged ...

The ITAT followed its earlier ruling for the German financial institution, confirming that the management/processing fee was a component of the loan financing and not a fee for technical services. The ...

ITAT Bangalore held that delay in filing appeals caused by major heart surgery and prolonged illness constituted a sufficient ...

The Tribunal upheld that a provision made for arrears of VDA, PFD, and HRA pursuant to a High Court directive represented a ...

GST portal's Invoice Management System (IMS) introduces Import of Goods section for BoE action. Manage imports and GSTIN ...