ITAT Amritsar held that reassessment proceedings initiated on recorded reasons on belief that the specific income has escaped assessment, however, addition on some other income not having any connection with the recorded reason is erred in law.
Explore the availability of Input Tax Credit under the margin scheme (Rule 32(5)) for registered persons discharging tax. Find out how it affects rent, advertisement expenses, and more.
ITAT Mumbai held that business profits earned by the assessee (non-resident) on account of the reinsurance business have no tax implications in India and existence of dependent agency permanent establishment is wholly tax neutral in India.
Madhya Pradesh High Court held that penalty u/s 271(1)(c) of the Income Tax Act not leviable in absence of deliberate intention to either conceal income or to furnish inaccurate particulars
ITAT Delhi held that amendments to section 36(1)(va) by Finance Act 2021 are retrospective or prospective is debatable and controversial and any adjustments u/s 143(1) of Income Tax Act by way of intimation, on debatable and controversial issues, is beyond the scope of Section 143(1).
CESTAT Kolkata held that Factory in terms of Section 2(e) of the Central Excise Act includes any number of inputs within the same premises irrespective of the number of Central Excise registrations. Accordingly, CENVAT of such inputs available.
Understanding the conflict between GST law and the GST portal. Discover how it affects the filing of Nov 22 GST returns.
Learn about the applicability of Ind AS 19 on NBFCs, banks, and insurance companies in India. Understand the requirement for actuarial valuations and compliance with Indian accounting standards.
Discover the top 6 best jobs in finance career for 2023. Explore high-paying opportunities and lucrative career paths in the finance and accounting industry.
Understanding the role of an independent director under Section 149(6) of the Companies Act, 2013. Learn about their responsibilities and impact on corporate governance.
