Ujjivan Small Finance Bank Vs ADIT (ITAT Bangalore) In this case The CIT(A) had denied the benefit of lower tax rate u/s 115BAA of the I.T. Act for the reason that the assessee has not filed the return of income on or before the due date specified u/s 139(1) of the I.T. Act. In this […]
Balkrishna Rama Tarle Dead Thr LRS & Anr. Vs Phoenix ARC Private Limited & Ors. (Supreme Court) On a fair reading of Section 14 of the SARFAESI Act, it appears that for taking possession of the secured assets in terms of Section 14(1) of the SARFAESI Act, the secured creditor is obliged to approach the […]
Bombay High Court held that reopening of assessment cannot be done against a dead Assessee under the Income Tax Act, 1961.
Ganpat Pannalal Vs State Bank of India (Madhya Pradesh High Court) Conclusion: In the said case, the Hon’ble High Court while remanding the case to the Tribunal observed that the Tribunal under Section 22(1)(g) of the Recovery of Debts and Bankruptcy Act, 1993 was competent to restore the Securitization Application by imposition of reasonable cost […]
Inspection/Search by Assistant Commissioner (ST) is valid on basis of authorization by Chief Commissioner under section 2(91) of the GST Act
Distinction between Section 9B and Section 45(4) of Income Tax Act 1961. Since the insertion of Section 9B there has been lot of discussion regarding the distinction between the two sections. Let’s throw some light on the applicability to make the blurred line visible – Section 9B is attracted when (Firm / AOP/ BOI) transfers […]
Understand GST compliance on the sale of capital goods. Learn how to address this issue in your entity and ensure monthly compliance.
IBBI Circular No. IBBI/RV/019/2018 dated 17.10.2018 which mandates the liquidator to appoint only registered valuers with effect from 01.02.2019 to conduct valuation under the Code and Regulations made thereunder.
आपको जानकर हैरानी होगी कि रिजर्व बैंक की वार्षिक रिपोर्ट 2016-17 से लेकर अब तक यानि 2021-22 के अनुसार रिजर्व बैंक ने 2016 से लेकर अब तक 500 और 2000 के कुल 6849 करोड़ नोट छापे थे और उनमें से 1680 करोड़ से ज्यादा नोट सर्कुलेशन से गायब है जिसका मूल्य 9.21 करोड़ रुपये आता […]
Seizure and confiscation of goods and conveyances in transit (under section 129 and 130 of CGST Act, 2017) is a separate proceeding from the recovery of tax The Central Government has brought into effect the provisions of Finance Act, 2021 effective from 1st January, 2022. The Finance Act, 2021 has amended section 74 of the CGST Act, 2017 by amending […]
