The outsourcing of information technology (IT) services has become increasingly prevalent in the banking and financial sector. There are several challenges that have come up and regulators have stepped in with a framework to enable prudent risk management.
Dive deep into Intricacies of e-commerce taxation in India with a comprehensive look at Equalisation Levy and TDS under Section 194-O.
Dive into the comprehensive analysis of risk-based internal auditing, its steps, benefits, and how it aligns with organizational strategies.
Explore the pivotal changes in GST rates for used motor vehicles since 2017, the concept of abatement, and the valuation rules under CGST 2017.
Delhi High Court rules that GST refund cannot be denied if applications are filed timely and as prescribed, even if there are deficiencies. Read the analysis.
In present facts of the case, the Hon’ble Supreme Court dismissed the appeal and upheld the Judgment of High Court, wherein adequate compensation was provided on Land Acquisition while considering the relevant factors such as determining the deduction for development charges, the nature of land, area under acquisition, whether the land is developed or not, if developed to what extent, and the purpose of acquisition.
CESTAT Ahmedabad held that since the issue involved is with regard to taxability of Ocean Freight and reimbursement of expense which is highly interpretational in nature. Further, in absence of suppression of facts or malafied intention, extended period of limitation is not invocable.
ITAT Delhi held that disallowance of staff welfare expenditure on the adhoc basis unsustainable as AO failed to establish as to who the expenses are not incurred for business purpose.
ITAT Delhi held addition u/s 68 of the Income Tax Act unsustained as assessee duly satisfied the initial onus i.e. identity, creditworthiness and genuineness of the transaction established.
Analysis of Jharkhand HC’s stance on TDS deposits, penalties, and implications on criminal proceedings when deposits are made with interest.
