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Archive: June, 2023

Posts in June, 2023

Appeal order not maintainable for violation of section 249(4) due to non-payment of admitted tax

June 27, 2023 2082 Views 0 comment Print

ITAT Amritsar held that the appeal order caused not maintainable for violation of section 249(4) of the Income Tax Act for non-payment of admitted tax. Accordingly, the appeal order u/s 250 is caused nullity which will be not maintainable before the Tribunal.

Addition towards trading in penny stock sustained for lack of assistance during appeal proceedings

June 27, 2023 624 Views 0 comment Print

ITAT Ahmedabad sustained the addition on account of trading in penny stock of shell company as assessee failed to attain personal hearing inspite of various occasion.

Additions based on evidence not confronted to assessee are invalid

June 27, 2023 1185 Views 0 comment Print

A detailed review of ITAT Delhi’s decision in the Dr. Shyam Sunder Doda Vs ACIT case, underscoring the importance of confronting evidence to the assessee before making any tax additions.

CESTAT allows remission of duty on goods destroyed in a fire incident

June 27, 2023 939 Views 0 comment Print

CESTAT Ahmedabad grants relief to Sun Pharmaceuticals, allowing the remission of duty application on goods destroyed in a fire incident.

Delhi HC Quashes Section 148A(d) Order as allegation in notice was misplaced

June 27, 2023 3051 Views 1 comment Print

Delhi High Court quashes IT order under Section 148A(d) against Krishna Diagnostic, highlighting errors in property transaction allegations.

Madras HC Ruling: Homemaker Wife’s Equal Share in Husband’s Property

June 27, 2023 11541 Views 0 comment Print

Read about the Madras High Court ruling on the concept of communal property, stating that homemaker wives have an equal share in their husband’s funded properties. Analysis of the case involving Kannaian Naidu and Kamsala Ammal.

Mere acceptance of disallowance not imply furnishing of inaccurate income particulars

June 27, 2023 486 Views 0 comment Print

Comprehensive analysis of the ITAT Delhi’s decision in Gulab Impex Enterprises Pvt. Ltd. Vs ACIT, affirming that mere acceptance of disallowance does not necessarily constitute furnishing inaccurate particulars of income.

Ambiguity of charge sufficient to vitiate Section 271(1)(c) Penalty proceedings

June 27, 2023 897 Views 0 comment Print

A deep dive into ITAT Mumbai’s ruling in I.G. International Pvt Ltd Vs ACIT, underscoring the importance of unambiguous notices under section 271(1)(c) of the Income Tax Act, 1961.

SEBI’s Guidelines on Achieving Minimum Public Unitholding in InvITs

June 27, 2023 1386 Views 0 comment Print

SEBI’s new guidelines on minimum public unitholding requirements for Infrastructure Investment Trusts and its implications for the stakeholders.

Achieving Minimum Public Unitholding: A SEBI Guide for REITs

June 27, 2023 1098 Views 0 comment Print

Latest SEBI guidelines for Real Estate Investment Trusts (REITs) on achieving minimum public unitholding, including regulations and various methods for compliance

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