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Archive: May, 2023

Posts in May, 2023

IBC: IBBI directs IP to undergo pre-registration educational course

May 12, 2023 756 Views 0 comment Print

DC warns Mr. S. Shivshanker to be more careful in handling pending assignments and he is further directed to undergo pre-registration educational course specified under regulation 5(b) of the IP Regulations from the IPA where he is registered.

Source of cash deposit not satisfactorily explained hence addition u/s 69 sustained

May 12, 2023 13809 Views 0 comment Print

ITAT Chennai held that addition u/s 69 towards unexplained money sustained on failure to explain the source of the cash deposits with necessary evidences.

Process and Documents Required for Obtaining Digital Signature Certificate (DSC)

May 12, 2023 7773 Views 0 comment Print

Discover the process and documents required for obtaining a Digital Signature Certificate (DSC). Understand the significance of DSC in digitally signing documents and ensuring compliance with regulatory authorities. Learn about the essential details such as full name, date of birth, PAN card, Aadhar card, and more, needed for a seamless DSC application. Enhance your understanding of the verification steps, including email and video verification, leading to the generation of your Digital Signature Certificate.

Amnesty Scheme for one-time settlement of default in export obligation by Advance & EPCG authorization holder

May 12, 2023 21516 Views 1 comment Print

Explore the new Amnesty Scheme under the Foreign Trade Policy 2023, allowing a one-time settlement for default in export obligations by Advance and EPCG authorization holders. Learn about the covered schemes, key highlights, eligibility, benefits, and the procedure for availing this significant relief provided by the Ministry of Commerce and Industry. Act now to address defaults and ensure compliance with the latest regulations.

Section 54F exemption eligible even if construction of new house starts before sale of original asset

May 12, 2023 11055 Views 0 comment Print

Kapil Kumar Agarwal Vs DCIT (ITAT Delhi) ITAT held that assessee has purchased a house property i.e. a new asset and is entitled to exemption u/s 54F of the act despite the fact that construction activities of the purchase of the new house has started before the date of sale of the original asset which […]

SC on clarification filed by Revenue in matter of Abhisar Buildwell P Ltd

May 12, 2023 6366 Views 0 comment Print

PCIT Vs Abhisar Buildwell P. LTD. (Supreme Court of India) Clarification application file by Revenue on issue of permitting 148 notice dismissed by Supreme Court with liberty  to Revenue to file Review application. Further in case such review application is filed it will be heard in open court . We observe that as we have […]

What is Jurisprudence?

May 12, 2023 4761 Views 2 comments Print

Explore the meaning of jurisprudence, the study of law. Understand its origin, significance, and branches, including historical jurisprudence, analytical jurisprudence, and ethical jurisprudence. Delve into the principles and development of law throughout history.

How to handle GST Return Scrutiny Notice-ASMT-10?

May 12, 2023 35004 Views 2 comments Print

Learn how to effectively handle a GST return scrutiny notice (ASMT-10). Understand the discrepancies, prepare a comprehensive reply, gather necessary documents, and consider personal hearing if needed. Ensure a smooth and hassle-free scrutiny process with updated GST knowledge and proper cooperation with the department.

Balance sheet and Profit/loss account requirement for loan purpose

May 12, 2023 13656 Views 0 comment Print

In this article, we will explore the significance of balance sheets and profit/loss accounts in loan applications, examining their purpose, key components, and why lenders rely on them to assess borrowers’ eligibility.

Order passed after due application of mind cannot be subjected to proceeding u/s. 263

May 12, 2023 1299 Views 0 comment Print

Shri Keshoraipatan Sahkari Sugar Mills Ltd. Vs PCIT (ITAT Jaipur) We find that the assessment was taken up for scrutiny under CASS to examine the deduction claimed chapter VIA for limited purpose and on this issue, there is finding of the ld. AO in the assessment order. Yet, learned PCIT has subjected the assessment order […]

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