Understand Income Tax Assessment for Co-operative Societies, covering definitions, computation of total income, deductions under Section 80P, rates for AY 2022-23, 2023-24, and the new Section 115 BAE introduced in AY 2024-25. Explore proposed benefits and recent tax reforms for cooperative societies.
ITAT Mumbai held that the assessee has merely got the license to use the software for its daily business requirement and has never owned the same. Further, such expense was used for business purpose on yearly rent basis it has not given any enduring benefit. Hence, such expense are revenue in nature.
CESTAT Chennai held that renting of immovable property for a hotel is expressly excluded from the ambit of the taxable service in Section 65(105)(zzzz) of the Finance Act, 1994. Accordingly, demand not sustainable.
Delve into the Karnataka High Court’s ruling on the extended limitation period for ITC refund claims, where the case of Hutti Gold Mines Company Ltd. Vs Union of India was examined.
ITAT Delhi held that amount received from its Indian subsidiary towards IT and SAP charges cannot be treated as Fees for Technical Services (FTS) under Article 12(4)(a) of India – Portugal DTAA. Accordingly, additions unsustainable.
ITAT Delhi held that statue doesn’t empower the Assessing Officer to withdraw or modify or substitute the assessment order passed under Section 143(3) of the Income Tax Act with another assessment order.
Private placement- Separate Bank Account not opened, Delay in FIling MGT-14 & Form PAS-3 – MCA imposes penalty – The order discusses the violations committed by the company, the appointment of the adjudicating officer, facts about the case, and the factors considered while imposing penalties. Analysis: The adjudication order reveals that Cookiejar Technologies Private Limited failed […]
Discover all you need to know about managing liability differences using Form DRC-01B. Understand the process, FAQs, and the implications of non-compliance on your GST returns.
In this case the NCLT’s order was set aside by the NCLAT to implead a former Executive Director of the Punjab National Bank in a matter related to Rs 14000 crore scam involving diamond merchant Nirav Modi Group and Gitanjali Group of Companies.
All of us are aware that the Customs Department often places an Alert in the EDI System relating to the import of goods or export of goods. The said Alert is placed in the System sometimes by the Officers of the DRI or Risk Management Centre of CBIC or any Customs Commissioner.
