MUMBAI: In a case between a senior citizen and the income tax department, the tax tribunal’s Mumbai bench held that the penalty levied for non-disclosure of interest earned on her tax refund is not valid.In their order, the ITAT bench comprising Amarjit Singh, accountant member, and Sandeep Singh Karhail, judicial member, emphasised that unless the refund is received, its interest element cannot be...
NEW DELHI: Goods and services tax (GST) collections rose 10.2% to Rs 1,62,712 crore in September, driven by a 14% growth in domestic transactions. The finance ministry as well as tax experts expect the collections to get a boost during October and November as the festival season kicks in. Besides, tighter regulation and the inclusion of online gaming and casinos in the GST net are expected to help swell...
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