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Archive: 15 May 2023

Posts in 15 May 2023

Practicing Company Secretary as Trademark Agent

May 15, 2023 2250 Views 0 comment Print

Explore the eligibility and legal provisions for a Practicing Company Secretary to act as a Trademark Agent. Understand the qualifications required and recent discussions regarding this matter. Stay informed about the authority’s stance and relevant resolutions.

IBBI suspends IP for not taking proper custody & control of assets of CD

May 15, 2023 447 Views 0 comment Print

DC is of the view that Mr. Mahesh Venkataraman failed in taking proper custody and control of the assets of CD-1 due to which breach of moratorium was done by management of suspended board by operating account with ICICI Bank, and with respect to CD-2, Mr. Venkataraman failed to maintain complete transparency in sharing profile of the professional engaged by him, with CoC.

Section 35(1)(ii) donation allowed as registration of Institute was valid on donation date

May 15, 2023 2568 Views 0 comment Print

Ravindra K Reshamwala Vs DCIT (ITAT Mumbai) ITAT Mumbai held in favour of assessee with a reason that on the date of giving donation, the registration of the institute was valid u/s 35(1)(ii) granting approval. So deduction for donation can not be disallowed. FULL TEXT OF THE ORDER OF ITAT MUMBAI This appeal filed by […]

Reassessment proceedings unsustainable as full and true material facts provided

May 15, 2023 795 Views 0 comment Print

ITAT Mumbai held that re-assessment under section 147 of the Income Tax Act not sustainable as assessee duly provided full and true material facts necessary for the assessment.

Assessment u/s 153C beyond six assessment year is without jurisdiction

May 15, 2023 678 Views 0 comment Print

ITAT Mumbai held that the assessment made u/s 153C of the Income Tax Act beyond the six assessment year is without jurisdiction and liable to be quashed.

TDS not deductible by Uber India for payment made to driver partners under Uber App

May 15, 2023 2670 Views 0 comment Print

ITAT Mumbai held that TDS not deductible by Uber India in respect of payment made to driver partners on behalf of Uber BV for the transportation services.

Motor vehicle being a self-propelled vehicle eligible for depreciation @33.40%

May 15, 2023 1449 Views 0 comment Print

ITAT Ahmedabad held that motor vehicles qualify as self-propelled vehicles and accordingly depreciation at the rate of 33.40% available on the same.

Ex-parte order unjustified as revenue failed to carry out primary duty post non-service of notice

May 15, 2023 1866 Views 0 comment Print

ITAT Ahmedabad held that post non-service of notice, revenue failed to carry out its primary responsibility to ascertain whether the company, against which notices were issued, and proceedings under section 148 was contemplated, was existing or not. Accordingly, matter remanded to carry out fresh adjudication.

Same income cannot be taxed in the hands of two persons

May 15, 2023 4404 Views 0 comment Print

ITAT Mumbai held that once whole income i.e. LTCG from sale of joint property purchased is brought to tax in the hands of assessee’s wife and claim is granted by the Coordinate bench, the same income cannot be taxed in the hands of the assessee.

Order passed without adequate reasoning is a non-speaking order

May 15, 2023 1578 Views 0 comment Print

ITAT Hyderabad held that order passed without giving reasons for the conclusions arrived at is a non-speaking order and the same is liable to be set aside.

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