When the Assessing Officer has taken up the assessment for examination after three or four years from the relevant financial year, no material evidence may be available on the land to show that the assessee has cultivated as claimed. AO has to rely on other records: ITAT
Explanation 2 to section 263 inserted w.e.f. 01.06.2015 is prospective and applicable with effect from 1st June, 2015.
Karnataka HC directs Dept. to follow procedure prescribed in Circular to allow ITC for bonafide mistakes in returns for FY 19-20 as well
Reassessment proceedings under section 148 of Income-tax Act, 1961 cannot be initiated merely for verification of the information reflected on the Insight Portal.
Accusation of fake credit by the supplier could not be a ground for rejecting the exporter’s ITC refund application
Orissa HC allowed the taxpayer to rectify GSTR-1 even after the time limit has lapsed when the details were wrongly entered in B2C instead of B2B
Entire purchase amount of such bogus purchases cannot be added at best, the addition limited to the extent of G. P. Rate
Assessment Order based on an uncertain issue of treaty benefit is not a fit case for revision U/S 263
