https://www.taxtmi.com/caselaws?id=764328 The Bombay HC quashed the income tax reassessment proceedings initiated against a chartered accountant firm based on CGST authority reports alleging fake invoice generation. The court found the assessing officer completely misunderstood GST transactions and ignored tangible evidence of legitimate professional services rendered to clients, including proper documentation, TDS deposits, and GST payments. The HC criticized both the assessing officer and PCIT for mechanical non-application of mind, emphasizing that CGST and Income Tax Acts operate independently with separate jurisdictions. The court ruled that CGST information cannot automatically justify IT Act proceedings without relevant material connecting the transactions to income tax liability. en-us Tue, 26 Nov 2024 00:00:00 +0530 Wed, 08 Jan 2025 08:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764328 The Bombay HC quashed the income tax reassessment proceedings initiated against a chartered accountant firm based on CGST authority reports alleging fake invoice generation. The court found the assessing officer completely misunderstood GST transactions and ignored tangible evidence of legitimate professional services rendered to clients, including proper documentation, TDS deposits, and GST payments. The HC criticized both the assessing officer and PCIT for mechanical non-application of mind, emphasizing that CGST and Income Tax Acts operate independently with separate jurisdictions. The court ruled that CGST information cannot automatically justify IT Act proceedings without relevant material connecting the transactions to income tax liability. Case-Laws Income Tax Tue, 26 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764328