Month: November 2024
Deduction u/s 80JJAA allowed for delayed filing of Form 10DA as Form 3CD showing the quantum of deduction was filed prior to one month from filing of return of income. In a recent judgment, ITAT Bengaluru has allowed deduction u/s 80JJAA as Form 3CD showing the quantum of …
Once an explanation is provided, it is incumbent upon GST authorities to examine it and come to a conclusion – Allahabad High Court quashed order u/s 74 of UPGST Act 2017 In a recent judgment, Hon’ble Allahabad High Court has set aside order passed u/s 74 of UPGST …
Notice u/s 148 quashed as passed without application of mind for quoting wrong section while seeking approval for reopening u/s 151 of the Act – SLP dismissed In a recent judgment, Hon’ble Supreme Court has upheld the judgment of Bombay High Court quashing the order quashing order passed …
Implementation of automation in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022 F. No. 450/28/20 l6-Cus-IVGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs) Circular No. 25/2024-Customs North Block, New DelhiDated: 21 of November, 2024 …
Clarifications on the applicability of concessional duty under IGCR Rules, 2022 in certain instances F. No. 524/20/2024-STO(TU)Government of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Indirect Taxes & Customs) North Block, New DelhiDated: 21.11.2024 Circular No. 26/2024-Customs ToAll Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive).All Principal Chief …
If HSN Code and rate of tax is similar, goods can not be detained for incorrect description of items transported. In a recent judgment, Hon’ble Allahabad High Court has held that when HSN Code and rate of tax is similar, goods can not be detained for mentioning incorrect …
CBDT specifies further forms to be filed electronically as prescribed in Appendix-II of the Income Tax Rules 1962 F. No. 30/DGIT(S)BLR/e-Filing Notification/Forms/2024 Government of IndiaMinistry of FinanceCentral Board of Direct TaxDirectorate of Income Tax (Systems) Notification No. 06/2024 Dated: 19-11-2024 Specifying Forms prescribed in Appendix-II of the Income …
Third party statement taken after recording reasons cannot form basis of Assessing Officer’s “reasons to believe” to reopen the assessment – ITAT In a recent judgment, ITAT Delhi has held that third party statement recorded subsequent to the reasons recorded, cannot form basis of Assessing Officer’s “reasons to …
Income from renting of shops and other space within Mall held taxable under the head of “income from business” not income from house property. In a recent judgment, Hon’ble Supreme Court income affirmed the judgment of Hon’ble Madhya Pradesh High Court that where letting out the property was …
RBI has cautioned general public on social media deepfake videos of its governor giving financial advice In a Press Release issued, RBI has stated that it has come to the notice of Reserve Bank of India that a fake videos of its Governor is being circulated in social …
