GST on Builder : Deeming fiction providing the one-third value of land will not be applicable If the taxpayer can furnish details of the actual consideration received for construction services

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.