Key Highlights of Recommendations of 49th GST Council Meeting held on 18.02.2023 The 49th GST Council meeting was held in New Delhi on 18th February 2023. The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary besides Finance Ministers of States & UTs …

Income Tax Prosecution- Accused has no right to inspect judicial file till he is summoned by the Trial Court ABCAUS Case Law Citation:ABCAUS 3668 (2023) (02) AC Important Case Laws relied upon by parties:National Bank of Oman vs Barakara Abdul Aziz & Anr. (2013) 2 SCC 488Udai Shankar …

Loss on investment written off not capital gain and hence not covered by exception to monetary limits for filing appeal ABCAUS Case Law Citation:ABCAUS 3667 (2023) (02) ITAT In the instant case, the Revenue had challenged the order passed by the CIT(A) in allowing capital loss arising out …

Denial of deduction u/s 11 not filing of Audit Report in Form 10B within due date. The CIT(A) to wait till disposal of condonation application pending before CIT(Exemption) ABCAUS Case Law Citation:ABCAUS 3666 (2023) (02) ITAT In the instant case, the assessee had challenged the order passed by …

Sales & collection of sundry debtors in SBN during demonetization period held to be assessee’s own money  ABCAUS Case Law Citation:ABCAUS 3665 (2023) (02) ITAT Important Case Laws covered:Apex Laboratories (P) Ltd. vs. DCIT (135 Taxmann.com 286)Pr.  CIT vs. Agson Global Pvt. Ltd.  (134 Taxmann.com 256)Madheswara Agencies vs. …

Penalty u/s 270A can not be imposed without first disposing application in Form No. 68 for immunity from penalty ABCAUS Case Law Citation:ABCAUS 3664 (2023) (02) ITAT In the instant case, the appellant assessee had challenged the order passed by the Commissioner of Income Tax (Appeals), National Faceless …