"24 September 2023" Archive

Deadline Alert: Update Mutual Fund Folio Nominations by September 30

Don't miss the Sep 30 deadline to update Mutual Fund (MF) folio nominations. Learn the process, importance, and consequences of not adding nominees....

Posted Under: SEBI |

GST Section 161: Rectification of Errors Demystified

Learn about GST Section 161 for error rectification in records. Discover what constitutes errors, who can rectify them, and the associated time limits. Get clarity now!...

Posted Under: SEBI |

Sufficient Opening Cash Balance: Demonetization Cash Deposit Addition Deleted

Hasmukh Kanjibhai Tadhani Vs ITO (ITAT Surat)

In this article, we discuss case of Hasmukh Kanjibhai Tadhani Vs ITO (ITAT Surat) involving cash deposits during demonetization, with detailed analysis and outcome...

Demonetization Cash Deposits: Not Unexplained Money with Established Cash Sales History

ACIT Vs Himachal Fibres Limited (ITAT Delhi)

Cash deposited during demonetization can't be unexplained if taxpayer has a history of cash sales and no discrepancies found in books....

Karnataka VAT Act: Taxation of Dog and Cat Feed

Sree Durga Distributors Vs State of Karnataka (Supreme Court Judgment)

Read Supreme Court judgment in Sree Durga Distributors vs. State of Karnataka on taxation of dog and cat feed under Entry 5 of Karnataka VAT Act....

ITAT Directs AO to Accept 50% Demonetized Currency as Sale Proceeds

J. Kalappa Naidu Sons Vs ITO (ITAT Chennai)

ITAT Chennai directs AO to accept 50% of cash deposits as sale proceeds and balance as unexplained money in J. Kalappa Naidu Sons' case vs. ITO....

Rejection of Entire Books Unwarranted for Stock Valuation Error: ITAT Surat

Keshri Export Vs ITO (ITAT Surat)

Discover ITAT Surat's decision in Keshri Export vs. ITO case for Assessment Year 2017-18. Learn why rejection of entire books of account was considered unnecessary...

Kerala HC Quashes Section 148A Notice/order passed Without Opportunity for Hearing

Bahuleyan Nair Vs DCIT (Kerala High Court)

Kerala High Court quashes Income Tax Act Section 148A notice and order, citing absence of a reasonable opportunity for petitioner to be heard...

No Disallowance under Section 14A/Rule 8D without Exempt Income

OJAS Industries Pvt. Ltd. Vs ACIT (ITAT Delhi)

In a significant ruling, ITAT Delhi states that no disallowance under Section 14A read with Rule 8D can be made if no exempt income was earned in previous year....

Cenvat Credit on Inputs for Exempted Goods: CESTAT Remands Case

Bodal Chemicals Ltd Vs C.C.E. & S.T. (CESTAT Ahmedabad)

Explore Bodal Chemicals Ltd vs. C.C.E. & S.T. case where CESTAT Ahmedabad remands matter pending a Supreme Court decision on Cenvat credit for exempted goods....

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