Powers and statutory discretion conferred on the commissioner of income tax to condone delay u/s 119(2)(b) ought to be judiciously exercised so that undue hardship to the assessee is avoided – High Court In a recent judgment, Hon’ble Bombay High Court has observed that powers and statutory discretion …

Recommendations of 55th GST Council Meeting Meeting of the 55th GST Council were held on 21st December 2024. The GST Council inter-alia made the following recommendations relating to changes in GST tax rates, provide relief to individuals, measures for facilitation of trade and measures for streamlining compliances in GST. 1. …

Excise classification of coconut Oil in small packings. Pure coconut oil sold in small quantities as edible oil classifiable under Heading 1513 – Supreme Court In a recent judgment, a full bench of Hon’ble Supreme Court has held that generally pure coconut oil sold in small quantities as …

Section 271J Penalty on CAs was challenged in Madras High Court. The Court had accepted the writ petition. However, the appeal was dismissed for non appearance of Petitioner In a recent judgment, Madras High Court dismissed the Writ Petition challenging Section 271J Penalty on CAs. The Court had …

CBDT issues revised FAQs on Direct Tax Vivad se Vishwas Scheme, 2024. Taxpayer eligible to apply for DTVSV Scheme, 2024 for appeal pending as on 22.7.2024 even if appeal has been disposed of on merits or dismissed as withdrawn CBDT has issued revised FAQ clarifying that taxpayer eligible …

More than 11 Lakh Women Directors are associated with Public & Private companies The Ministry of Corporate Affairs, with a view to encourage women participation in decision making at various levels in companies, has included the following provisions in the Companies Act, 2013: (i) Second proviso to sub-section …