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Archive: 09 June 2023

Posts in 09 June 2023

Extension of end date/completion date of Real Estate Project as per Section 7(3) of RERA Act 2016

June 9, 2023 10386 Views 1 comment Print

Explore the intricacies of extending the completion date of a real estate project under Section 7(3) of the RERA Act 2016. Understand the application process, required documents, and conditions imposed by the RERA Authority. Stay compliant with RERA regulations for a seamless project development.

FAQs on DIR-3 KYC: Everything You Need to Know

June 9, 2023 10773 Views 2 comments Print

Get answers to FAQs about DIR-3 KYC, including who needs to file the form, filing options, required details, fees, and more. Stay compliant with the annual KYC requirements for directors in India.

Claim of wrong supply by supplier merely supported by unauthenticated e-mails is unacceptable

June 9, 2023 834 Views 0 comment Print

CESTAT Chennai held that claim of wrong supply made by the supplier merely supported by e-mails, the authenticity of which were never proved before the Adjudicating Authority, is unacceptable.

Addition merely based on statement u/s 132(4) without collaborative evidence is unsustainable

June 9, 2023 2070 Views 0 comment Print

ITAT Indore held that addition on the standalone basis of statement of assessee u/s 132(4) of the Income Tax Act cannot be held as sustainable in absence of collaborative evidence found in support of such addition.

Writ not entertained as alternative and efficacious remedy available to the petitioner

June 9, 2023 576 Views 0 comment Print

Guwahati High Court held that writ petition not entertained as the same is hit by the alternative and efficacious remedy available to the petitioners to prefer an appeal before the appellate authority competent to deal with the issues raised in this writ petition.

Opportunity to each member of society not necessitated in proceedings initiated u/s 34A

June 9, 2023 420 Views 0 comment Print

Madras High Court held that there is no necessity for providing opportunity to each and every member of the Society in the proceedings initiated under Section 34A of the Income Tax Act.

Addition sustained on failure to produce evidence to support astronomical agricultural income

June 9, 2023 489 Views 0 comment Print

ITAT Hyderabad held that assessee neither before AO nor before CIT(A) could produce any evidence to support his astronomical agricultural income. Accordingly, in absence of evidence, addition sustained.

Rejection of books of accounts justified as transactions recorded not supported by proper documents

June 9, 2023 327 Views 0 comment Print

ITAT Chennai held that rejection of books of accounts justified as transactions recorded in the books of accounts are not properly vouched or supported by proper documents. Further, expenses and related vouchers were also not found in accordance with books of accounts.

Foreign travel expense of company employees’ spouse who accompanied on official tour is allowable

June 9, 2023 2148 Views 0 comment Print

ITAT Mumbai held that foreign travelling expenses in respect of spouses who accompanied on official tour with some of the company employees is allowable expenditure.

Duty element treated as expenditure and not as receivables hence hit by doctrine of unjust enrichment

June 9, 2023 882 Views 0 comment Print

CESTAT Hyderabad held that all the evidence leads to the conclusion that duty element is treated as an expenditure and not as receivables. Accordingly, as the duty incidence is passed on and therefore hit by doctrine of unjust enrichment.

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