Month: January 2023
Union Budget 2023-24. Direct Tax Highlights The Union Finance Minister Ms. Nirmala Sitharaman will present Budget 2023-24 in Parliament tomorrow on 1st February 2023 at 11 AM. The Budget Session of the Parliament has begun today. Watch live budget speech and live updation of Tax Proposals at this …
Once income suffered TDS it cannot be said to be undisclosed income – ITAT ABCAUS Case Law CitationABCAUS 3650 (2023) (01) ITAT Important Case Laws relied upon:Samson Maritime Ltd. vs CITMak Data 258 ITR 593 (SC)Dharmendra Textiles Processors (2007) 295 ITR 244CIT vs Vidyagauri Natwar Lal, 238 ITR …
Govt amends maturity period of Kisan Vikas Patra (KVP) and pre-maturity amount The Govt. has notified the Kisan Vikas Patra (Amendment) Scheme, 2023 with effect from 1st day of January, 2023. Amendments have been made to Kisan Vikas Patra Scheme 2019 It has been provided inter alia that …
If one proceeding is saved, other has to be quashed – interesting judgment of ITAT on reassessment and penalty proceedings. ABCAUS Case Law CitationABCAUS 3649 (2023) (01) ITAT This interesting judgment of the ITAT deals with one quantum-appeal filed by assessee against the order passed by Commissioner of …
The Companies (Incorporation) Amendment Rules, 2023 MCA has notified the Companies (Incorporation) Amendment Rules, 2023 by amending the Companies (Incorporation) Rules, 2014. The amendments have been made to the following Rules along with revision of Form INC-3 One Person Company-Nominee Consent Form, INC-14 Declaration,INC-15 Declaration and RD-GNL-5-Form for …
CBDT notifies California Public Employees Retirement System Pension Fund PAN: AAATC6038J u/s 10(23FE) for exemption from investment related income CBDT notified the California Public Employees Retirement System Pension Fund PAN: AAATC6038J under section 10(23FE) of the Income Tax Act 1961 in respect of the eligible investment made by …
Trial Court to carry out an enquiry u/s 202 CrPC before issuing summons to non jurisdictional assessee in Income Tax Proceedings. ABCAUS Case Law CitationABCAUS 3648 (2023) (01) AC Important Case Laws relied upon:Vijay Dhanuka and Ors vs Najima Mamtaj and Ors,Confident Projects (India) Pvt. Ltd and Ors …
If creditors are found to be bogus, entire purchases to be disallowed and not only balance outstanding – ITAT ABCAUS Case Law CitationABCAUS 3647 (2023) (01) ITAT Important Case Laws relied upon:Ipsita Naik vs. ITO In the instant case, both the assessee and the Revenue had challenged the …
Advisory on facility of ‘Initiating Drop Proceedings’ of Suspended GSTINs due to Non-filing of Returns Recently, a functionality of “Automated Drop Proceedings” of GSTINs suspended due to non-filing of returns has been implemented on the GST Portal. This functionality is available for the taxpayers who have filed their pending …
No Objection Certificate (NoC) of secured creditor & charge holder required for conversion into company u/s 366 of Part I of Chapter XXI of the Companies Act 2013 Part I of Chapter XXI of the Companies Act 2013 (the Act) deals with Companies authorised to register under the …
