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Once, relief is granted based on the remand report of the AO, revenue would be precluded from filing any further appeal – ITAT In a recent judgment, the ITAT has held that once, relief is granted based on the remand report of the AO, revenue would be precluded …
In a recent judgment, ITAT has held that in the absence of Document Identification Number (DIN) mentioned in the approval memo, such statutory approval under section 153D is rendered a nonest approval in law. Absence of DIN while granting statutory approval under section 153D would tantamount to no …
The Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 MINISTRY OF CORPORATE AFFAIRSNOTIFICATION New Delhi, the 24th January, 2024 G.S.R. 61(E).— In exercise of the powers conferred by sub-section (3) of section 23 read with section 469 of the Companies Act, 2013 (18 of 2013), the …
Grievance for not condoning delay for filling Form No. 10B cannot be addressed by way of appeal before ITAT In a recent judgment, the ITAT has held that it can not entertain an appeal challenging the rejection of condonation of delay in filing audit report in Form No. …
Interest received u/s 28 of Land Acquisition Act on enhanced compensation exempt from tax – ITAT In a recent judgment, ITAT has held that AO was correct in holding that interest received u/s 28 of Land Acquisition Act on enhanced compensation exempt from tax following decision of the …
Seizure of goods for want of e-way bill when due to break down, goods loaded on another vehicle. Burden of proof falls squarely on tax authorities to demonstrate genuine intent to evade tax before penalizing- High Court quashes penalty imposed ABCAUS Case Law Citation:ABCAUS 3849 (2024) (01) HC …
Turnover in respect of speculation business is only net difference of independent transactions In a recent judgment, ITAT has held that turnover in respect of derivative trading is to be reckoned as only which may be positive or negative difference for independent transactions. ABCAUS Case Law Citation:ABCAUS 3847 …
Return filed without balance sheet & profit and loss account may be defective but not invalid – Supreme Court quashes assessment made on the basis of balance sheet submitted to bank. ABCAUS Case Law Citation:ABCAUS 3846 (2024) (01) SC Important Case Laws relied upon by parties:M/s Phool Chand …
CBDT issues circular explaining the provisions of the finance act, 2023 CBDT has issued Circular No. 1/2024 dated 23rd January 2024 giving explanatory Notes to the Provisions of the Finance Act, 2023. The Finance Act, 2023 was passed by the Parliament, received the assent of the President on …
Advisory for furnishing bank account details by registered taxpayers under Rule 10A of the Central Goods and Services Tax Rules, 2017 Mandatory Bank Account Details Submission as per law: All Registered Taxpayers are required under the provisions of CGST Act, 2017 and the corresponding Rules framed thereunder to …
