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Archive: 14 August 2023

Posts in 14 August 2023

Action/Reaction – After The Due Date of The ITR Filing

August 14, 2023 13947 Views 0 comment Print

A comprehensive guide to various scenarios and solutions for belated, revised, defective Income Tax Returns for FY 2022-23, including penalties and provisions under the Income Tax Act.

Section 80IC deduction cannot be disallowed arbitrarily in subsequent years

August 14, 2023 1737 Views 0 comment Print

Analysis of C & E Limited Vs PCIT case on disallowance of deduction u/s 80IC in subsequent years. Examining the legality & Calcutta High Court’s decision.

CBDT Order on Dispute Resolution Committee Formation

August 14, 2023 5316 Views 0 comment Print

Detailed analysis of CBDT office order, outlining constitution and functioning of Dispute Resolution Committee in line with e-Dispute Resolution Scheme, 2022.

How to Check & Change Bank Account for Income Tax Refund Online?

August 14, 2023 17325 Views 3 comments Print

Learn how to view and change the bank account selected for your income tax refund online. Follow step-by-step instructions to validate and nominate banks

No Addition U/s 68 In Hands of Firm For Capital Contribution By Partners

August 14, 2023 4122 Views 0 comment Print

ACIT Vs Ambika Enterprises (ITAT Delhi) In the legal case between ACIT (Assistant Commissioner of Income Tax) and Ambika Enterprises, ITAT Delhi provided insights into capital contributions made by partners in a firm. The focus is on whether any addition under section 68 could be made in the hands of the firm for capital contributions […]

MCA imposes Penalty for Omitting Email and Phone on Company Letterhead

August 14, 2023 40026 Views 1 comment Print

In a case penalties were imposed by Ministry of Corporate Affairs for omitting email and phone details on a company’s letterhead under Companies Act, 2013.

Amendment brought to Establish Source Of Source For Loans Is Effective From 01.04.2023

August 14, 2023 6456 Views 0 comment Print

Analysis of ITO vs Balwan Singh (ITAT Delhi) ruling. The case focuses on the amendment effective from 01.04.2023 about source verification for unsecured loans.

Whether a quasi judicial authority can pass a non speaking order

August 14, 2023 5484 Views 1 comment Print

Explore the Tata Steel vs Union of India case in the Calcutta High Court that addresses whether quasi-judicial authorities can issue non-speaking orders. This judgement holds significance for matters related to GST, income tax, and similar acts.

New Tariff Values for Edible Oils, Brass, Gold & Silver from 15th Aug 2023

August 14, 2023 1497 Views 0 comment Print

Official notification of revised tariff values for edible oils, brass scrap, gold, silver, and areca nuts by the Ministry of Finance, India, on 14th Aug 2023

Section 142(1) and 148 cannot operate concurrently: ITAT Dehradun

August 14, 2023 4419 Views 0 comment Print

Discover pivotal case of Uttrakhand Poorv Sainik Kalyan Nigam Ltd. vs ITO, where ITAT Dehradun established that Section 142(1) and 148 cannot operate simultaneously, leading to quashing of reassessment proceedings.

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