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Archive: 19 December 2022

Posts in 19 December 2022

Analysis of Donation To Trusts And Charities under Section 80G

December 19, 2022 24108 Views 1 comment Print

Donations to trusts, charities & NGOs are not just acts of benevolence; they also come with tax exemptions under Section 80G. Analyse how to avail the same in this blog post.

Capital Gain Tax on Sale of Inherited Property

December 19, 2022 77571 Views 10 comments Print

In this article, an attempt has been made to simplify tax provisions on capital gain from the sale of Inherited Property with the help of Illustrations.

Order unsustainable as passed without considering relevant evidence

December 19, 2022 1026 Views 0 comment Print

CESTAT Mumbai held that order passed without considering evidence relating to availment of depreciation under the Income Tax Act is liable to be quashed.

Contention of assessee not acceptable merely because books are certified by Auditor

December 19, 2022 1401 Views 0 comment Print

ITAT Ahmedabad held that merely because the books of accounts have been subjected to tax audit under Section 44AB of the Act and the Auditor had certified the books of accounts to be in order, the contention made by the assessee cannot be stated to be full proof.

Security deposit payment for restoration of high tension electricity connection mandatory for Corporate Debtor

December 19, 2022 1323 Views 0 comment Print

NCLAT Delhi held that the Corporate Debtor are mandatorily required to pay security deposit for restoration of high tension electricity connection.

Seized documents/ book/ things can be retained for maximum four and half years

December 19, 2022 2583 Views 0 comment Print

Delhi High Court held that combine reading of provisions of reading of sections 67(2) second proviso, 67(3), 74(2), 74(10) clarifies that seized documents or book of things can be retained for a maximum period of four and half years.

Appellate Remedies under GST Law (Part-II) (Revenue’s Appeal & Revision Under GST)

December 19, 2022 6285 Views 0 comment Print

ot only an aggrieved person, but also the Revenue Department may not be in agreement with a decision or an order. In such circumstances, the law provides two mechanisms to the Department: An Application to the Appellate Authority against an adjudication order; the Revision of the decision or order.

48th GST Council Meeting Highlights

December 19, 2022 6357 Views 0 comment Print

Get the key highlights from the 48th GST Council Meeting on 17th December 2022, chaired by Smt. Nirmala Sitharaman. Decriminalization of three offences & rate rationalisation discussed.

Web Based Accounting Vs Desktop Accounting

December 19, 2022 1947 Views 0 comment Print

Discover the differences between web-based accounting and desktop accounting. Explore benefits like accessibility, cost-effectiveness, automatic updates, collaboration, and enhanced security for small and medium-sized businesses in India.

Outflow towards cost of acquisition cannot be ignored for non-registration of assignment agreement

December 19, 2022 735 Views 0 comment Print

ITAT Bangalore held that merely for the reason that the assignment agreement is not registered, the actual outflow from the hands of the assessee towards acquisition of the property cannot be ignored for computing the capital gains.

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