It is most vital to note that while striking the right chord in taking a significant giant step forward, the Telangana High Court at Hyderabad in a most learned, laudable, landmark, logical and latest judgment titled Nalla Balu @ Durgam Shashidhar Goud v. State of Telangana in Criminal Petition Nos. 4905, 4903 & 8416 of 2025 that was pronounced as recently as on 10.09.2025 has…
PRecent Supreme Court rulings address the denial of Input Tax Credit (ITC) due to supplier errors in GST returns. In Union of India v. Brij Systems Ltd., the court questioned the revenue’s stance of denying ITC based solely on the expiry of rectification periods under the CGST Act for clerical errors.lease avoid posting Only URLs Website URL: https://taxguru.in/goods-and-service-tax/gst-itc-supplier-errors-recent-supreme-court-rulings.html
Gujarat High Court has set aside an order by the Deputy Director of Income Tax that had declared the income tax return filed by Rohtak Panipat Tollway Private Limited for the Assessment Year 2022-23 as invalid. Website URL: https://taxguru.in/income-tax/write-back-turnover-section-44ab-tax-audit-gujarat-hc.html
Ministry of Micro, Small, and Medium Enterprises (MSME) has issued a notification under the MSME Development Act, 2006, mandating companies to report payment delays to micro and small enterprises. Read more at: https://taxguru.in/corporate-law/govt-notifies-msme-payment-delay-reporting-rule-companies.htmlCopyright © Taxguru.in Website URL: https://taxguru.in/corporate-law/govt-notifies-msme-payment-delay-reporting-rule-companies.html
The recently introduced Income-Tax Bill 2025 simplifies the Indian tax framework but retains the exclusion of Company Secretaries (CS) from the definition of “Accountant” under Section 515(3)(b). Website URL: https://taxguru.in/income-tax/cs-accountants-income-tax-bill-2025-research.html
No Penalty Under Section 271AAC Would Be Imposed When the Income under Section 68 to 69D Has Been Included in The Return and Return Has Been Filed within timeframe allowed Under Section 139(1) or Section 139(4). Website URL: https://taxguru.in/income-tax/penalty-section-271aac-income-disclosed-section-139-timeframe.html#google_vignette
CMA Bibhuti Bhusan Nayak, President of the Institute of Cost Accountants of India (ICMAI), has publicly addressed the concerns of its members regarding the omission of “Cost Accountant” from the definition of “Accountant” in the newly introduced Income Tax Bill 2025. This exclusion has raised serious questions about the government’s commitment to providing a level playing field for all accounting professionals. Read more Website URL:…
The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive 622-page legislation comprises 536 clauses, organized into 23 chapters and 16 schedules. The bill aims to simplify the existing Income Tax Act of 1961, making it more concise and easier to understand. Website URL: https://taxguru.in/income-tax/govt-released-income-tax-bill-2025-download.html