News & Updates Latest Tax newsCash Withdrawals During Demonetisation Taxed u/s 68: ITAT Deletes ₹62 Lakh Addition treating them as Business Turnover [Read Order] September 18, 2025The ITAT observed that the withdrawals and deposits were routine cash transactions in the business, properly recorded in the books, and that section 68 was incorrectly invoked HaripriyaShort Grant of Income Tax TDS Credit on Property Sale: ITAT Orders Refund of ₹37.88 Lakh Within One Month [Read Order] September 18, 2025The tribunal noted that the return and Form 26AS reflected correct income and TDS, but the error arose due to duplication in TIS. HaripriyaAddition of Rs. 4.66 Crore u/s 69A in Individual PAN: ITAT upholds Deletion noting Disclosure in HUF Return [Read Order] September 18, 2025The tribunal observed that the individual PAN was inadvertently used for opening business accounts, while all income belonged to the HUF. HaripriyaITAT Dismisses Cooperative Society Appeal as Withdrawn, Grants Liberty to File Fresh Appeal if S.119(2)(b) Petition is Rejected [Read Order] September 18, 2025The CIT(A) upheld the disallowance, and the society requested to withdraw the appeal before the Tribunal while reserving the right to file afresh. HaripriyaNCLT Allows Liquidation of Phalcom Infra Solutions Pvt Ltd [Read Order] September 18, 2025The outgoing Liquidator shall handover the control and custody of information/documents/assets of the Corporate Debtor to the newly appointed Liquidator, and upon such handover, he shall stand discharged from his duties as liquidator HaripriyaSuspension order passed by Full time member of IBBI who is Party to investigation is void ab initio: Gujarat HC Stays Disciplinary Committee's Order [Read Order] September 18, 2025In relation to maintainability of present petition, Senior Advocate submitted that there is no appeal prescribed under the Code, 2016 and the only remedy is to file this petition under Article 226 of the Constitution of India. SandraGST Appellate Tribunal: CBIC notifies Important Deadlines on Appeals [Read Notification] September 18, 2025The Government of India has approved the appointment of 53 Judicial Members to the Goods and Services Tax Appellate Tribunal (GSTAT) last month. SandraLife and Health Insurance for Individuals & Families Fully Exempted from GST: CBIC Notifies [Read Notification] September 18, 2025This exemption will not apply to group insurance policies, such as employer-employee or other organisational group covers, which will continue to remain taxable. SandraGST Rate Amendments on Services including Transport, Job Work, Courier: CBIC Notifies New Rates [Read Notification] September 18, 2025These amendments cover service sectors including transportation, courier and postal services, job work activities, renting of goods, carriages, and allied services. SandraCBIC Notifies Cases to be Heard Exclusively by Principal Bench of GST Appellate Tribunal [Read Notification] September 18, 2025This notification, which was released due to the GST Council's recommendations, seeks to make sure the clarity and consistency in the way that important legal issues and interstate tax matters are interpreted. Sandra
