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As you are aware that ‘A fraud is an act of deliberate deception with the design of securing something by taking unfair advantage of another. It is a deception in order to gain by another’s loss. It is a cheating intended to get an advantage. In this Article, we are going to know some factors […]
DCIT Vs Sanverwala Jewellers Pvt Ltd (ITAT Indore) In this case Assessing Officer merely doubted the investment made by the share applicants for the reason that they did not submit any proof regarding agricultural activities done by them. It is therefore quite evident that the Assessing Officer himself accepted the identity of the share applicants […]
ACIT Vs ISMT Limited (ITAT Pune) It is settled position of law that the Assessing Officer cannot rely on the same books of accounts which are rejected for the purpose of making any other additions as held by the Hon’ble Andhra Pradesh High Court in the case of Indwell Constructions vs. CIT, 232 ITR 776 […]
Procter & Gamble Health Limited Vs ACIT (ITAT Mumbai) Undisputedly, the assessing officer had disallowed 50% of the total cost incurred by the assessee towards free samples in the relevant assessment years. Whereas, simply relying upon the decision of the learned DRP in assessment year 2013-14, learned Commissioner (Appeals) has restricted the disallowance to 20% […]
Advisory for Non Residents to get the profile status updated on the Income tax Portal/ NSDL to prevent the PAN from becoming inoperative The SC, in its judgement, upheld the legal validity of this section in its entirety and provided partial relief. Vide Press Release dated 10 June 2017 (pursuant to the SC decision) Various […]
Uncover the complexities of availing Bonus ITC under the GST law. Understand the importance of proper tax compliance and avoiding lapsed credits.
It is critical to comprehend the company’s operations in order to classify them as more accurately using GST codes for goods and services. Also, look over the accounting records to see if they are up to snuff, keeping in mind the GST law’s obligations. It will give the acquirer a clearer picture of how GST affects each goods and service, as well as how it affects the total GST liability.
Valuation is a science and an art. Valuation is a sort of realty check of business. However, Valuation can sometimes be too optimistic as well which can be observed from recent IPO listings, which kept tanking at the Stock market. A business valuation done appropriately would save business from going on verge of breakdown. The […]
CBDT has issued Notification No. 19/2021 dated 26th March 2021 which makes it mandatory for all the trusts/ societies/institutions registered under section 12A and 80G to obtain fresh registration in prescribed format The applicant shall make an application in Form 10A with the Principal Commissioner or Commissioner authorized by the Board on or before the […]
1. Annual filing of Return of Deposits with the MCA (DPT‐3) under Section 73 and Rule 16 ♦ ‘All’ companies are required to file for the period ending on 31st March up to 30th June for the ‘actual deposits’ and also for ‘considered not deposits’ (exempted deposits) 2. Filing of disclosure of Substantial Beneficial Ownership […]
