No bar under law to claim deduction u/s 54 and u/s 54F simultaneously in respect of the same asset – ITAT  In a recent judgment, ITAT Pune has held that there is no bar under law to claim deduction u/s 54 and u/s 54F simultaneously in respect of …

Penalty u/s 271CA for non collection of TCS on Parking Lot quashed by ITAT In a recent judgment, ITAT Delhi has quashed penalty u/s 271CA for non collection of TCS on Parking Lot by Nagar Palika as it was a non-profit organization and has constraints in correct understanding …

High Court condones delay in filing audit report in Form-10B considering the extent of the delay In a recent judgment, the Hon’ble Kerala High Court, considering the extent of the delay, quashed the order passed by the CIT(Exemptions) denying to condone delay in filing audit report in Form-10B …

Information Utility under IBBI to verify before issuance of a record of default. the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th August, 2024 Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, …

IBBI Disciplinary Committee to dispose off SCN to service provider within sixty days from the due date for receipt of reply to the show-cause notice INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th August, 2024 Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) …

Passing on incentives/discounts to retailers is not in the nature of commission paid liable to TDS u/s 194H – ITAT In a recent judgment, ITAT Chennai held that passing on certain amount of incentives/discounts to retailers claimed as business promotion expenses were not in the nature of commission …