E invoice limit reduced from 10 Crs to 5 Crs. w.e.f. 1st August 2023.

Department is not authorised to retain the amount paid by the petitioner without issuance of SCN even after 2 years have passed

Assessing Officer is duty bound to explicitly record the reasons for reopening proceeding

WHETHER PAST ITC CAN BE CLAIMED NOW UPON REVOCATION OF CANCELLED REGISTRATION?

Co-operative bank is entitled to claim deduction of bad debts provided in first part of section 36 (1) (viia) (a) @  7.50% of total Income and same cannot be denied linking it to rural advances

Disallowance cannot be made in respect of donation made in an institution based on valid CBDT approval: ITAT Mumbai

Vaildity Deduction u/s 80P to credit cooperative society providing credit to its members is cooperative Bank

GSTN issues Updated Advisory on GST Invoice Reporting: 7 days Time Limit applicable for Invoices and Credit/Debit Notes also

ITAT Mumbai held that deduction u/s 36(1)(via) is to be allowed on the total outstanding advances at the end of each month considering the opening balances.

Guidelines for Special All-India Drive against fake registrations

No national Taxation on unsold flats of Builder : ITAT Pune

‘Not Everything Said In a Judgment Constitutes a Precedent’- Supreme Court Explains Distinction Between Obiter Dicta & Ratio Decidendi

GST Guidelines to curb the ongoing malpractice of fake registrations & fake invoicing

Advisory: Deferment of Implementation of Time Limit on Reporting Old e-Invoices

Income Tax Notices for Bogus Political Donation: Issue & Option

Cooperative Banks are also registered Cooperative Societies and Sec 80P deduction is available: ITAT Ahmedabad

TDS under section 194-IA of the Income Tax Act is only applicable when the consideration for the transfer of immovable property exceeds Rs. 50 lakhs per buyer.

RCM is not applicable on reimbursement of expenses paid on behalf of the company at actuals which are incurred by employee/staff being a whole-time director of the company