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Archive: 31 August 2023

Posts in 31 August 2023

Jharkhand HC Quashes CCL’s Arbitrary Earnest Money Forfeiture, Orders Release

August 31, 2023 714 Views 0 comment Print

Overview of the Jharkhand High Court’s ruling on Atibir Industries’ earnest money forfeiture by Central Coalfields. Dive into the key arguments, analysis, and outcomes.

Delhi HC stays Income Tax Reassessment Against Oxfam India

August 31, 2023 843 Views 0 comment Print

Delhi High Court intervenes in Oxfam India’s tax reassessment case, issuing a stay on proceedings. A comprehensive analysis of the Delhi HC order and its implications.

ITAT Imposes Rs 5000 Cost for Ignoring CIT(A) Notices on Appellant

August 31, 2023 654 Views 0 comment Print

Analysis of ITAT Hyderabad’s decision in Mareddy Jagan Mohan Vs ITO: Cost levied for ignoring CIT(A) NFAC notices and impact on the assessee’s appeal.

Depreciation under IT Act Section 32 not allowable if No Business Activity

August 31, 2023 1140 Views 0 comment Print

Review of the ITAT Delhi’s decision on Arrow Manpower Services case. Discussion on the disallowance of depreciation claim and implications of the verdict.

Lack of Notice Violates Natural Justice, Requires Readjudication: ITAT Chennai

August 31, 2023 564 Views 0 comment Print

ITAT Chennai’s landmark decision on the non-issuance of notice to Arunachalam, underlining the importance of natural justice in tax proceedings.

Section 148 Notice Void if AO Doesn’t examine Assessee’s Filed Return

August 31, 2023 6453 Views 0 comment Print

ITAT Delhi rules on the invalidity of a notice issued without accessing an assessee’s return, showcasing the nuances of the Income Tax Act.

Voluntary disclosure of LTCG under IDS Scheme: ITAT deletes Penalty

August 31, 2023 717 Views 0 comment Print

ITAT Mumbai decides on the applicability of penalties under Section 271(1)(c) after disclosing concealed income under the IDS scheme.

Oath recorded by Unauthorized Officer Has No Evidence Value: Delhi HC

August 31, 2023 861 Views 0 comment Print

Delhi High Court decides on the admissibility of evidence in PCIT Vs ARN Infrastructure, emphasizing officer authorization & corroborative evidence.

Understanding Clause No. 44 in Form 3CD of Tax Audit

August 31, 2023 31476 Views 0 comment Print

An in-depth analysis of Clause No. 44 in Form 3CD, its impact on large organizations, challenges faced by the Assessee, and suggested solutions for smoother compliance.

Relief on Mismatched ITC till FY-2019-2020

August 31, 2023 38565 Views 3 comments Print

Uncover relief on mismatched Input Tax Credit (ITC) issues from FY 2017-2018 to 2019-2020. Explore the impact of GST Department’s press release and circular, providing insights into ITC claim challenges and reconciliation litigations. Gain clarity on the Karnataka High Court judgment favoring taxpayers and the subsequent implications for addressing ITC mismatches.

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