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Archive: 24 June 2023

Posts in 24 June 2023

Free Live Webinar: Dematerialization of Securities and Recent Amendments

July 2, 2024 2490 Views 0 comment Print

Join our free webinar on July 4th at 4:00 PM to gain insights into the dematerialization of securities and recent amendments. Register now for key updates.

Free Webinar: Analysis of 10 Recent Income Tax Judgments in Favour of Assessee

July 1, 2024 4197 Views 0 comment Print

Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.

Service Tax refund rejection lacked a stated reason: CESTAT ordered re-adjudication

June 24, 2023 564 Views 0 comment Print

Delve into the Vedanta Aluminium Ltd Vs Commissioner of CGST & Excise case, where CESTAT Kolkata set aside an order rejecting a refund claim of service tax and ordered re-adjudication due to the absence of a stated reason in the original decision.

ITAT upholds section 271B penalty despite non-maintenance of books

June 24, 2023 1413 Views 0 comment Print

Explore the recent judgement of ITAT Pune in the case of Rupa Sanjay Nigade Vs ITO, where the Tribunal upheld the imposition of penalty under Section 271B due to non-audit of books of accounts.

Dispute in stamp value may be referred to the valuation officer

June 24, 2023 1338 Views 0 comment Print

ITAT Pune held that as per third proviso to section 56(2)(vii)(b), where the stamp value of the immovable property is disputed by the assessee on the ground mentioned in section 50C(2), the AO may refer the valuation of such property to the Valuation Officer. Accordingly, matter remanded.

ITAT allows section 80P deduction on Interest Income of Coop Society on Surplus Fund deposits

June 24, 2023 4074 Views 0 comment Print

An in-depth analysis of the Income Tax Appellate Tribunal (ITAT) Pune’s decision allowing cooperative societies to claim a tax deduction for interest income on surplus funds deposited in cooperative banks and scheduled banks under Sections 80P(2)(a)i) and 80P(2)(d) of the Income Tax Act.

Addition invoking section 56(2)(vii)(b) unsustained as stamp duty value less than agreement value

June 24, 2023 2385 Views 0 comment Print

ITAT Mumbai held that as conditions in second proviso to section 56(2)(vii)(b) satisfied, stamp duty as on the date of agreement would be compared with agreement value. Accordingly, since the stamp duty value is less than the agreement value, addition unsustainable.

On-money income assessable in year in which sale of concerned flat is declared

June 24, 2023 1221 Views 0 comment Print

ITAT Mumbai held that the income portion of the on-money is assessable in the year in which the sale of concerned flat is declared by the assessee.

CPC can’t disallow Partners remuneration for not submitting deed with ROI

June 24, 2023 1590 Views 0 comment Print

Analysis of the recent ITAT Pune decision in the Mayur Wines Vs NFAC case, highlighting the importance of correct procedures in claiming partnership remuneration deductions under the Income Tax Act, 1961.

Refund claim hit by principles of unjust enrichment on failure to prove that incidence of duty not passed on

June 24, 2023 1173 Views 0 comment Print

CESTAT Ahmedabad held that the appellant has failed to discharge its burden of proving that burden of duty has not been passed on to the customer. Accordingly, since incidence of the duty has been passed on to the buyers therefore, the refund is hit by the principles of unjust enrichment.

How To Prepare For Interview

June 24, 2023 1311 Views 0 comment Print

Ace your job interview with our comprehensive guide! Learn how to research the company, align your skills with the job description, practice mock interviews, and more. Boost your confidence, stand out, and increase your chances of landing the job. Prepare for success today

AGM Compliances for Listed Company

June 24, 2023 18714 Views 3 comments Print

Ensure AGM compliance for your listed company with our comprehensive checklist. From appointing directors and auditors to filing necessary documents, follow this guide for timely and accurate adherence to regulatory requirements. Stay informed on key tasks, timelines, and relevant regulations to maintain transparency and fulfill your legal obligations.

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