Is GST Refund Taxable If It Is Reported in Form 3CD but Not Credited to the Profit & Loss Account? ITAT Bangalore Says No   Important Ruling on GST Refunds, Form 3CD Clause 16(B), Exclusive Method of Accounting, and Section 143(1) Adjustments The Central Processing Centre (CPC) has increasingly been making automated adjustments under Section 143(1) by…

Section 54F Exemption Cannot Be Denied for Delay Beyond Taxpayer’s Control: Telangana High Court Grants Relief Despite 7-Year Delay in Construction   Landmark Ruling on Joint Development Agreements (JDA), Delayed Possession, and Liberal Interpretation of Section 54F One of the most common disputes under the Income-tax Act concerns the availability of Section 54F exemption where the purchase, construction, registration,…

Late Filing of Form 10-IE Cannot Deny New Tax Regime Benefit: Hyderabad ITAT Delivers Landmark Relief Under Section 115BAC     Procedural Delay Cannot Defeat Substantive Tax Benefits – A Principle That May Influence Several Other Tax Disputes One of the biggest challenges faced by taxpayers under the New Tax Regime has been the strict compliance requirements…

Can You Claim Section 80P Deduction During Assessment Even If It Was Not Claimed in the Original ITR? ITAT Pune Says Yes     Important Relief for Cooperative Societies: Section 80P Claim Can Be Raised During Assessment Proceedings for Pre-AY 2018-19 Cases One of the most frequently litigated issues involving cooperative societies is whether a deduction under Section…

Procedural Lapse Cannot Defeat Substantive Tax Benefit: Telangana High Court Restores Section 115BAA Benefit Despite Delay in Filing Form 10-IC   A Landmark Judgment on “Genuine Hardship”, Condonation of Delay under Section 119(2)(b), and Liberal Interpretation of Beneficial Tax Provisions In tax administration, one of the most debated questions is whether a taxpayer should lose…