Explore the recent Jharkhand High Court verdict on a money laundering case, Gopal Oraon Vs Union of India. Discover the court’s perspective on the lack of material evidence leading to the grant of bail.
ITAT Pune held that that the amount surrendered under unrecorded stock has to be brought to tax under the head “business income” and no provision u/s. 115BBE of the Income Tax Act is attracted.
ITAT Mumbai held that adjustment of notional interest for extended credit period to the associated enterprises unsustainable as assessee extended credit period to its non-associated enterprises without charging any interest.
ITAT Chennai held that delay in filing of tax audit report due to dispute between the directors of the assessee company is just a technical breach without any malafide intention. Hence, penalty u/s 271B not leviable.
ITAT Chennai held that penalty under section 271B of the Income Tax Act cannot be levied for venial technical breach without any mala fide intention of the assessee as tax audit report submitted before completion of assessment proceedings.
Analysis of Jigna Chetan Mehta Vs ACIT case about the validity of assessment proceedings in absence of a proper notice under section 143(2) of IT Act.
Discover legal remedies when a party files a wrong affidavit. Explore options like motions for correction or striking out, contempt proceedings, and civil actions for damages. Case laws such as Ram Saran Hansraj v. Dharanidhar Barman and M.G. Agarwal v. Hussainbhai provide insights. Uphold truth in judicial proceedings.
Explore demergers and tax consequences in Indian corporate context. Understand the demerger process, rationales, modes, and forms. Learn about the advantages and tax effects, including capital gains, written down value, unabsorbed business losses, GST, and stamp duty implications. Navigate through the complexities of demerger under the Companies Act and Income Tax Act for informed corporate decisions.
ICSI Approved a uniform minimum stipend of Rs. 5,000/- (Rupees Five Thousand Only) per month for the students (both Executive & Professional Programme) registering for Practical Training (Company/Company Secretary in whole-time practice/other entities) on or after 01st August, 2023.
Uncover the details of the ITAT Ahmedabad ruling in Surendra Ramdhar Yadav vs ITO, where the tribunal condoned a 259-day delay in filing an appeal due to medical treatment. Explore the implications and impact of this case on the legal landscape.
