Day: June 22, 2024
Recommendations of 53rd GST Council Meeting held on 22.06.2024. The GST Council inter alia made the recommendations relating to changes in GST tax rates, measures for facilitation of trade and measures for streamlining compliances in GST. GST Council recommends waiving interest and penalties for demand notices issued under Section …
Waiver of principal amount of loan from private bank cannot be treated as income – ITAT In a recent judgment, ITAT Chandigarh has held that the waiver of the principal amount of loan from private bank cannot be treated as income under Sections 2(24)(xviii), 28(iv) and 41(1) of …
Notice u/s 148A(b) not signed physically or digitally is illegal, invalid and inoperative – High Court In a recent judgment, High Court of Karnataka has held that Notice u/s 148A(b) was illegal on two counts first notice was not signed physically or digitally secondly, notice prescribed less than …