News
GSTN Releases FAQs on Mandatory Ship-to Field and Voluntary e-Way Bill Closure
2+ hour, 54+ min ago (17+ words) Gstn Releases Faqs On Mandatory Ship To Field And Voluntary E Way Bill Closure 425748. Html Studycafe...
ITAT Rejects Appeal Filed After 661 Days, Finds No Sufficient Cause for Delay
6+ hour ago (231+ words) ITAT declines to condone 661-day delay, holding that the trust failed to establish sufficient cause for late filing of appeal. ITAT holds software subscriptions non-taxable but taxes separate professional services as FTS under DTAA. ITAT held that GST collected on…...
First Cry Parent Brainbees Receives Income Tax Reassessment Notice Over ESOP Shares
6+ hour, 31+ min ago (256+ words) First Cry parent Brainbees Solutions has received an Income Tax reassessment notice over ESOP share valuation for AY 2022-23, with the company saying no tax demand has been raised and it will contest the matter. Brainbees to Contest IT Reassessment Notice…...
ITAT Deletes Rs 7 Lakh Section 69 A Addition, Says Suspicion Alone Cannot Replace Proof
2+ day, 4+ hour ago (314+ words) The ITAT Mumbai deleted the Rs 7 lakh addition under Section 69 A, holding that credible evidence and consistent explanations outweigh mere suspicion in unexplained cash cases. ITAT Deletes Rs 7 Lakh Unexplained Money Addition The ITAT held that a mere mismatch in…...
ITAT Upholds Pass-Through Taxation for Revocable Securitisation Trust Under Income Tax Act
2+ day, 12+ hour ago (234+ words) Meetu Kumari | Jun 30, 2026 | ITAT Upholds Pass-Through Taxation for Revocable Securitisation Trust Under Income Tax Act Before the Tribunal, the Revenue argued that the trust was carrying on organised commercial activities with a profit motive and therefore could not be regarded…...
ITAT Remands Section 11 Exemption Case After Revenue Fails to Prove Taxpayer's Engagement in Commercial Activity
2+ day, 5+ hour ago (180+ words) The ITAT Delhi remands Section 11 exemption case after the tax authorities fails to prove that educational institute engaged in trade or commercial activities. Saloni Kumari | Jun 30, 2026 | ITAT Remands Section 11 Exemption Case After Revenue Fails to Prove Taxpayer's Engagement in Commercial…...
Tax Recovery Must First Target Company: High Court Finds Existing Protection Sufficient and Dismisses Plea
2+ day, 6+ hour ago (237+ words) The HC dismissed a writ petition challenging personal tax recovery under Section 179, holding that adequate protection had already been granted by directing authorities to first recover dues from the company. Saloni Kumari | Jun 30, 2026 | Tax Recovery Must First Target Company: High…...
Undergraduate Student Receives Income Tax Summons Over Rs 20. 98 Crore Transactions, Alleges PAN-Aadhaar Misuse by Shell Company
2+ day, 10+ hour ago (431+ words) The I-T Department has sent a summons to a undergraduate student pursuing graduation for alleged income and business transactions amounting to Rs 20. 98 crore. Saloni Kumari | Jun 30, 2026 | Undergraduate Student Receives Income Tax Summons Over Rs 20. 98 Crore Transactions, Alleges PAN-Aadhaar Misuse by…...
Govt Extends Time Limit to File Appeals or Applications Before GST Appellate Tribunal Till July 31, 2026
2+ day, 10+ hour ago (407+ words) Saloni Kumari | Jun 30, 2026 | Govt Extends Time Limit to File Appeals or Applications Before GST Appellate Tribunal Till July 31, 2026 The Ministry of Finance (Department of Revenue) has extended the due date for filing appeals and applications before the Goods and Services…...
ITAT Directs CPC to Grant Section 87 A Rebate on STCG Tax
2+ day, 13+ hour ago (347+ words) ITAT allows Section 87 A rebate on Section 111 A gains for AY 2024-25, rejecting CPC's denial. Meetu Kumari | Jun 30, 2026 | ITAT Directs CPC to Grant Section 87 A Rebate on STCG Tax The assessee, an individual taxpayer, filed her return for AY 2024-25 declaring total…...