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ITAT Delhi held that there is no transfer of assets in case of the shifting of plant & machinery from fixed assets to current assets. Accordingly, there is no question of determination of capital gain.
ITAT Hyderabad held that once additional income offered during survey was simply accepted and assessment order was passed u/s 143(3) of the Income Tax Act without invoking provisions of section 115BBE. Then, provisions of section 115BBE cannot be invoked via rectification as per section 154.
Bombay High Court held that Selective investigation of Economic Offence Wing (EOW) betrays the faith of victims. Accordingly, responsible persons for the wrongdoings should not be allowed to escape the process of law.
ITAT Chandigarh held that late deposit of employees’ share of PF/ ESI contribution to the relevant funds beyond prescribed due date as per respective Act is liable to be disallowed.
Article explains different GST slabs in India, items categorized under each GST slab, GST percentage rates, types of GST, and GST calculation
ITAT Surat held that gift received from HUF cannot be added back to the total income of the assessee being Karta (Manager) of such HUF.
Orissa High Court held that it is made clear that as conditions of the tender is not satisfied, the decision making process in selecting the party, being arbitrary, unreasonable and contrary to the provision of law, cannot be sustained in the eye of law.
ITAT Delhi held that business promotion expenditure incurred for improving the visibility of the brand and sale of the products is routine expenses incurred during the course of the business. Accordingly, the same is allowable expenditure.
Understand the nuances of Input Service Distribution (ISD) vs Cross Charge in GST. Learn about the tax implications, controversies, and recent developments. Stay informed for effective compliance.
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