Want to know the expectations of taxpayers in the upcoming budget? Learn what Bhartiya Janta Party and Finance Minister Smt. Nirmala Sitaraman have in store with the keyphrase ‘Expectations of Tax Payers In Budget – 2023’
NCLT Mumbai approved the resolution plan submitted by the resolution applicant Adani Goodhomes Private Limited as the plan was in accord with the Code and the application regulations framed thereunder.
Calcutta High Court held that compensation duly assessed taking the annual income after statutory deduction in terms of Income Tax Return.
Bombay High Court held that Insolvency and Bankruptcy Board of India (IBBI) suspending registration of registered valuer merely because criminal proceeding is initiated against the valuer is untenable in law.
Supreme Court held that persons other than searched persons shall be liable to pay the interest on late filing of the return under Section 158BC even in absence of a notice under Section 158BC of the Income Tax Act.
ITAT Chennai held that renting of auditorium for the purpose of conducting guest lectures or topics to address the students is incidental to fulfilment of the object of the trust i.e. education. Accordingly, exemption under section 11 of the Income Tax Act available.
Bombay High Court held that notice without signature affixed on it, digitally or manually, is invalid and would not vest AO with any further jurisdiction to proceed to reassess the income of the petitioner.
CESTAT Delhi held that a clinical establishment providing health care services are exempted from service tax. Accordingly, part of consideration received from such health care services from the patient is also not taxable under Business Support Service.
CESTAT Kolkata held that as per new fiscal policy, possession of gold is not an offence. Accordingly, seized gold Balas are ornaments and directed to be released.
ITAT Pune held that surcharge or cess being part of income tax is not allowable as deduction under section 40(a)(ii) of the Income Tax Act.
