Clipped from: https://www.taxscan.in/top-stories/why-ca-cannot-issue-gst-clearance-certificate-in-service-tenders-insights-from-bombay-hc-order-1440666?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307259 A GST clearance certificate in service tenders must come from the GST Department, as a Chartered Accountant has no statutory authority to certify
*****CBIC Circular on GSTR-2A vs 3B ITC Difference Ignored by GST Dept: Karnataka HC sets aside orders [Read Order]
Clipped from: https://www.taxscan.in/top-stories/cbic-circular-on-gstr-2a-vs-3b-itc-difference-ignored-by-gst-dept-karnataka-hc-sets-aside-orders-1439928?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307226 ITC cannot be disallowed merely on the basis of GSTR-2A and GSTR-3B differences without following the CBIC-mandated procedure. The Karnataka High Court has
*******ITC Claimed, Reversed and Re-Claimed in FY 2024-25: How Will It Reflect in GSTR-9? [GSTR 9/9C FAQ Explained]
Clipped from: https://www.taxscan.in/top-stories/itc-claimed-reversed-and-re-claimed-in-fy-2024-25-how-will-it-reflect-in-gstr-9-gstr-99c-faq-explained-1440278?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307256 To prevent mismatches, audit objections, and future disputes consistent and proper reporting across these tables is essential. In this article, we’ll explain the
*******Deduction u/s 54F Cannot be Denied for Non-Deposit of Sale Proceeds Before Filing Return: ITAT [Read Order]
Clipped from: https://www.taxscan.in/top-stories/deduction-us-f-cannot-be-denied-for-non-deposit-of-sale-proceeds-before-filing-return-itat-1434395?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307251 The Tribunal observed that courts have consistently held such deposits to be procedural and that the main condition under Section 54 investment in
*****Wife Sells Two Gifted Flats for ₹6 Crore and Pays No Income Tax: Here’s How
Clipped from: https://www.taxscan.in/top-stories/wife-sells-two-gifted-flats-for-6-crore-and-pays-no-income-tax-heres-how-1428872?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307244 A Mumbai woman sells two gifted flats for Rs. 6 crore, reinvests the proceeds in another home, and legally avoids paying any tax
***Sale of Late Mother’s Flat for Multiple Residential Houses eligible for Income Tax S.54 Exemption: Bombay HC [Read Order]
Clipped from: https://www.taxscan.in/top-stories/sale-of-late-mothers-flat-for-multiple-residential-houses-eligible-for-income-tax-s54-exemption-bombay-hc-1429946?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307229 The Assessing Officer had denied the Section 54 exemption and the Income Tax Appellate Tribunal (ITAT) partly allowed relief for only one unit.
***Meals, Transport & Courier Expenses not Part of “Transfer of House Property”: ITAT Rejects NRI’s Income Tax Deduction Claims [Read Order]
Clipped from: https://www.taxscan.in/top-stories/meals-transport-courier-expenses-not-part-of-transfer-of-house-property-itat-rejects-nris-income-tax-deduction-claims-1437543?TRN300=SekwjRcdsAuMKvsgUYkMcbgwAcJuwuMkvcGUykqhGJxMEdFSIMSBJiuRKMsAsx&LKD333=3307239 The assessee claimed that several travel-related and incidental expenses were incurred exclusively for completing the sale of his Bengaluru property The Bengaluru Bench of the
*****Tribunal reversing order of CIT(A) without demonstrating any perversity is not justifiable
lipped from: https://taxguru.in/income-tax/tribunal-reversing-order-cita-demonstrating-perversity-justifiable.html Rajnandani Projects Pvt. Ltd. Vs PCIT (Patna High Court) Patna High Court held that ITAT was not justified in reversing the order of
***Excess trade advance received back in cash cannot be added u/s. 68 as unexplained cash credit
Clipped from: https://taxguru.in/income-tax/excess-trade-advance-received-cash-added-u-s-68-unexplained-cash-credit.html Lalitha Padmaja Thallapalli Vs ITO (ITAT Hyderabad) ITAT Hyderabad held that trade advance given to goldsmith for making gold jewellery and excess amount
*****Assessment u/s. 143(3) quashed as being in violation of provisions of section 144B
Clipped from: https://taxguru.in/income-tax/assessment-u-s-1433-quashed-violation-provisions-section-144b.html Optical Health Solutions Private Limited Vs Union of India (Telangana High Court) Telangana High Court held that initiation of proceedings under section 143(3)
*******With DPDP clock ticking, India Inc braces for ₹20,000-crore compliance spend – The HinduBusinessLine
lipped from: https://www.thehindubusinessline.com/info-tech/with-dpdp-clock-ticking-india-inc-braces-for-20000-crore-compliance-spend/article70446314.ece Following the notification of rules under the DPDP Act in November, the 18-month countdown for complying with the norms has begun for institutions
*Bank NPAs at multi-decade lows as gross NPA ratio falls to 2.1%: RBI data | Banking – Business Standard
Clipped from: https://www.business-standard.com/industry/banking/bank-npas-at-multi-decade-lows-125122900801_1.html RBI’s Trends and Progress report shows banks’ asset quality improved, with gross NPAs down to 2.1% by September 2025 and net NPAs at
*Recovery under IBC improves to nearly 37% in FY25 despite fewer cases | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/recovery-under-ibc-improves-to-nearly-37-per-cent-in-fy25-despite-fewer-cases-125122900840_1.html RBI data shows banks improved recovery outcomes under the IBC and SARFAESI in 2024-25 even as the number of cases referred for resolution
India’s hospital industry to see 16-18% revenue rise in FY26: ICRA | Industry News – Business Standard
Clipped from: https://www.business-standard.com/industry/news/indias-hospital-industry-to-see-16-18-per-cent-revenue-rise-in-fy26-on-high-occupancy-icra-125122900922_1.html ICRA expects hospitals’ revenue growth of 16-18% in FY26 on healthy occupancy and higher ARPOB, while projecting a stable pharma outlook led by
Bank fraud amount rises 30% to ₹21,515 crore in April-September H1FY26 | Banking – Business Standard
Clipped from: https://www.business-standard.com/industry/banking/bank-fraud-rises-30pc-to-rs-21515cr-in-apr-september-period-125122900997_1.html Banking system fraud amount rose to ₹21,515 crore in April-September FY26, up 30 per cent year-on-year, even as the number of cases fell
Banks will continue to face competition for resource mobilisation, says RBI | Banking – Business Standard
Clipped from: https://www.business-standard.com/industry/banking/banks-will-face-competition-for-resource-mobilisation-rbi-125122901033_1.html RBI said banks remain resilient with low bad loans and strong capital, but credit growth outpacing deposits will keep resource mobilisation competitive, requiring
***FinMin to hold colloquium on rising pendency of debt recovery cases in DRTs | Finance News – Business Standard
Clipped from: https://www.business-standard.com/finance/news/fin-min-to-hold-colloquium-on-rising-pending-debt-recovery-cases-in-drts-125122900808_1.html DFS will meet DRT and DRAT heads and senior bank executives on December 30 to discuss measures to speed up recoveries as pending
IBC amendments don’t address real estate sector issues: ICRA – Industry News | The Financial Express
Clipped from: https://www.financialexpress.com/business/industry-ibc-amendments-dont-address-real-estate-sector-issues-icra-4091517/ In over nine years, the IBC has delivered better realisations for creditors over other recovery modes (DRT, SARFAESI) with total recovery of around
*******Gratuity in full and final settlement may come sooner after job exit under new labour laws – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/gratuity-in-full-and-final-settlement-may-come-sooner-after-job-exit-under-new-labour-laws-4091759/ India’s new labour laws, set to take effect in 2026, could significantly change how employees are paid, work, and retire. From faster gratuity
*****Lady sells property for Rs 94 lakh, gets Rs 38 lakh in cash; files no ITR, gets tax notice for unexplained income, wins case in ITAT Mumbai – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/lady-sells-property-for-rs-94-lakh-gets-rs-38-lakh-in-cash-files-no-itr-gets-tax-notice-for-unexplained-income-wins-case-in-itat-mumbai/articleshow/126215490.cms On November 14, 2025, the Income Tax Appellate Tribunal (ITAT) Mumbai ruled that that if a registered sale deed, which serves as a primary legal
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