Month: January 2023
Goods manufactured using advance modern/ technology not diversification i.e. different commercial activity – Supreme Court denies exemption u/s 4A of UP Trade Tax Act. ABCAUS Case Law Citation ABCAUS 3632 (2023) (01) SC Important Case Laws relied upon:Commissioner of Sales Tax, Orissa and Anr. Vs. Jagannath Cotton Company …
CBDT extends date for investment/construction/purchase claiming for capital gain exemption u/s 54 to 54GB . F. No. 225/49/2021-ITA-IIGovernment of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ••••• Circular No. 1 of 2023 New Delhi, dated 06 January, 2023 Subject: Extension …
Customers can do KYC by submission of self-declaration through various non-face–to-face channels or fresh KYC remotely through V-CIP – RBI RBI has rationalised the KYC related instructions taking into account the available technological options for enhancing customers’ convenience within the framework prescribed under the Prevention of Money Laundering …
Trade Marks Agent Examination 2023 & Patent Agent Examination 2023 The office of the Controller General of Patents, Designs & Trade Marks shall hold the Trade Marks Agent Examination 2023 and Patent Agent Examination 2023 on 6th – 7th May 2022 as per the following schedule – …
Revision u/s 263 to make additions substantively instead of protectively not sustainable – ITAT ABCAUS Case Law Citation ABCAUS 3631 (2023) (01) ITAT In the instant case, the assessment was framed pursuant to search action u/s 132. The Assessing Officer (AO) made additions on protective basis in the …
Applicability of interest tax on interest component in hire-purchase agreement. Supreme Court set asides the addition and upheld fact findings of ITAT ABCAUS Case Law Citation ABCAUS 3630 (2023) (01) Important Case Laws relied upon:The Commissioner of Income Tax v. M/s Muthoot Leasing & Finance LimitedSundaram Finance Limited …
Disallowance u/s 40A(3) for Cash Payments out of Business expediency deleted by ITAT following Supreme Court judgment ABCAUS Case Law CitationABCAUS 3629 (2023) (01) Important Case Laws relied upon:Attar Singh Gurumukh Singh vs. ITO Ludhiana 1991 AIR 2109 (SC) In the instant case, the assessee had challenged the …
CBDT clarifies applicability of Section 269ST in respect of dealership/distributorship contract in case of Co-operative Societies Circular No. 25/2022 F. No. 225/129/2022/ITA-II Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ••••• New Delhi, Dated 30th December, 2022 Subject: Clarification for …
High Court jails Deputy Commissioner of Income Tax in contempt case to send down a correct signal to Income Tax Department ABCAUS Case Law Citation ABCAUS 3628 (2023) (01) HC Important Case Laws relied upon:Sebastian M. Hongray Vs. Union of India; (1984) 3 SCC 82.T.N. Godavarman Thirumulpad (102) …