ITAT Mumbai held that the amount of internal transfer between two EOUs of the assessee is to be considered for the purpose of arriving at the profit eligible for exemption under section 10B of the Income Tax Act.
ITAT Delhi held that initiation of reassessment proceedings u/s 147 of the Income Tax Act merely on the basis of information from other officer without cogent and demonstrable material unjustified.
CESTAT Mumbai held that duty liability in terms of Chewing tobacco & Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Rules, 2010 unsustainable merely alleging that sealed/uninstalled packing machine is available in the factory premises.
From November 1, GST e-invoice rules change: A 30-day deadline for taxpayers with over Rs. 100 crore turnover, and two-factor authentication for added security.
Stay informed about income tax return filing and audit due dates for Assessment Year 2023-24. Also, discover threshold limits for tax audits and Form 3CEB reports.
Discover effective strategies for managing an enterprise’s financial risks, controls, and audits. Learn the importance of identifying and mitigating financial risks, implementing robust internal controls, and conducting regular audits for transparency and accountability. Establish a comprehensive framework supported by strong leadership, clear policies, and competent professionals. Explore collaboration with external experts to enhance risk management and stay informed about emerging industry practices. Safeguard your financial health and ensure long-term stability through proactive financial governance.
Read full judgment of Metroark Pvt. Ltd. vs. ITO in Calcutta High Court. Learn how ITAT directed CBDT to consider delay condonation for Form 10-IC under Income Tax Act.
CESTAT set aside demand order passed by Adjudicating Authority and held that, marketing, sales promotion, and technical pre-sales support service provided by assessee to Indian customer on direction of foreign company tantamount to ‘export of service’.
H.G. Nagaraju Vs CA. Lingaraj M. Pujari (M.No.225579) (ICAI) Recently, the Institute of Chartered Accountants of India (ICAI) has concluded a disciplinary proceeding involving CA Lingaraj M. Pujari, concerning a certificate issued by him. The Disciplinary Committee of ICAI, in the case of Shri H.G. Nagaraju Vs. CA. Lingaraj M. Pujari, has determined that CA […]
Kerala High Court held that under the Kerala Value Added Tax Act, 2003 (KVAT Act) in a contract for the transfer of the right to use the goods, the taxable event is the execution of the contract for delivery of the goods, and if that has taken place, it was immaterial whether the transfer was exclusively or to the exclusion of all others.
