CA ALOK KUMAR

Seized Data Alone Is Not Enough for Tax Addition-A Game Changer for Tax Litigation

By CA ALOK KUMAR March 6, 2025Income Tax Act 1961No Comments

ITAT Delhi Ruling: M/s Sanmati Jewellers vs. DCIT, Central Circle-7, Delhi (ITA No. 3031/Del/2022, dated 28.02.2025) Background of the Case M/s Sanmati Jewellers, a partnership firm engaged in trading bullion,…

Supreme Court Clarifies Arrest Under GST Act: No Arrest on Mere Suspicion

By CA ALOK KUMAR March 5, 2025GST Arrest, GST Investigation, GST Law in IndiaNo Comments

Honourable Supreme Court of India, in a significant ruling, has clarified that an arrest under the Goods and Services Tax (GST) Act, 2017 cannot be made merely to investigate whether a cognizable and…

GST Exemption Denied for Manpower Services to Webel Technology Limited: What Businesses Must Know

By CA ALOK KUMAR March 5, 2025GST, GST Assessment, GST Collection, GST Composition Scheme, GST Council Meeting, GST Law, GST on Commision, GST Refund, Income Tax Act 1961, Tax ExemptionNo Comments

The West Bengal Authority for Advance Ruling (AAR) has recently ruled that GST exemption is not applicable for manpower services provided to Webel Technology Limited (WTL). This decision is a crucial clarification for businesses engaged…

Can I claim Section 89 relief even if the previous year’s ITR is not filed?

By CA ALOK KUMAR February 27, 2025Income Tax Act 1961No Comments

The Income Tax Department does not mandate the filing of ITR for previous years to claim Section 89(1) relief. Even if a taxpayer did not file an ITR for the…

New Tax Rules 2025: Key Takeaways Every Taxpayer Must Know

By CA ALOK KUMAR February 13, 2025Capital Gains Tax Structure, detailed yet streamlined tax framework, Finance Acts, Finance Bill 2025, Income tax bill 2025, Indian Income Tax Act 1961, No Change in ITR Filing Deadlines, Revised TDS and TCS Compliance, Tax YearNo Comments

Taxation is a crucial aspect of financial planning, and with the introduction of the Income Tax Bill, 2025, the government aims to simplify the existing tax structure while making compliance…

Key Proposed Amendments to GST Laws in Finance Bill 2025

By CA ALOK KUMAR February 13, 2025CGST Act, CGST Delhi, Direct Tax, DTAA, DTAA with UK, Finance Bill 2025, GST, GST Assessment, IGST, ITC RefundNo Comments

The Finance Bill 2025 introduces several crucial changes to the Goods and Services Tax (GST) framework, focusing on compliance, trade facilitation, and tax governance. Here’s a summary of the key amendments: 1.…

Comprehensive guide on capital gain tax in india

Comprehensive Guide on Capital Gains Tax in India

By CA ALOK KUMAR February 11, 2025Income Tax Act 1961No Comments

Introduction to Capital Gains Tax Capital Gains Tax is levied on the profit earned from the sale of a capital asset during a financial year. The taxability of such gains falls under the head "Capital Gains" in…

Supreme Court: Offence Before Show-Cause Notice is ‘First Offence’ Under Income Tax Compounding Guidelines

By CA ALOK KUMAR February 11, 2025Income Tax Act 1961No Comments

In a landmark ruling, the Supreme Court of India has overturned the Gujarat High Court's 2017 judgment, which had upheld the rejection of a compounding application for Assessment Year (AY) 2013-14 due to the late…

Supreme Court’s Interpretation of Section 141 of the NI Act: Clarifying Vicarious Liability in Cheque Dishonour Cases

By CA ALOK KUMAR February 11, 2025Cheque Dishonour Cases, Supreme CourtNo Comments

The Supreme Court of India has recently delivered a significant ruling concerning Section 141 of the Negotiable Instruments Act, 1881 (NI Act), which deals with the dishonour of cheques by companies. This…

Union Budget 2025: A Boost to Investment and Economic Growth

By CA ALOK KUMAR February 7, 2025Budget 2025, Budget2025, Indian BudgetNo Comments

Union Budget 2025: A Boost to Investment and Economic Growth