ITAT Chennai held that addition as unexplained investment for quantity of jewellery within the permissible limits as per CBDT instruction no. 1916 dated 11.05.1994 is unsustainable.
ITAT Mumbai held that income from shareholders account is to be taxed as a part of life insurance business as assessee is carrying on only life insurance business.
CESTAT Ahmedabad held that expenses charged to the farmers towards harvesting and transportation of sugarcane is not chargeable to service tax under Manpower Recruitment and Supply Agency Services.
CSR expenditure incurred, ITC shall be available in GST, Penalty for not fulfilling CSR obligations & Treatment of CSR expenditure in Income tax
Ministry of Commerce & Industry Year End Review 2022 for Department of Commerce, Ministry of Commerce and Industry India’s merchandise registers a positive growth of 12.6% from April-October, 2021-22 to April-October, 2022-23 India’s Services export registers a positive growth of 31.43% from April-October, 2021-22 to April-October, 2022-23 Centre takes several proactive policy amendments to facilitate […]
Explore the onus to prove in cheque bounce cases (Section 138 NI Act) through a comprehensive analysis of relevant provisions and key judgments. Understand the legal debt presumption, shifting onus, and the role of statements, ITR filings, and financial capacity in establishing or challenging legal transactions. Get insights into case laws and a balanced perspective on the burden of proof for both complainants and accused in cheque bounce cases.
Activities concerning goods come under the definition of business whereas activities concerning services can come either under business or under profession. It is important to note that under the Income Tax regime, the definitions of ‘business’ and ‘profession’ are inclusive. This means that the Income Tax Act does not have clear-cut guidelines which categorises the services under business or profession.
Explore the complexities of Capital Gain Tax on the sale of properties. Learn about Long Term Capital Gain (LTCG), Short Term Capital Gain (STCG), and exemptions under Income Tax Act, 1961. Understand the significance of indexation, Cost Inflation Index (CII), and conditions for claiming exemptions like Section 54. Discover how tax implications can be reduced through proper planning and adherence to statutory requirements.
Professional Employer Organizations (PEO) with experience in the local markets can assist the business to improve and grow. A person who wants to expand a freshly formed business in a foreign country needs some time to do market research, understand local consumer trends, and get to know the demands of the public.
Doctrine of Legitimate Expectation as the name suggest is something which can be reasonably or legitimately expected by someone without having any legal rights attached thereto. There is no statutory definition prescribed for the term ‘Legitimate Expectation’ under any law.
