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Archive: 26 September 2023

Posts in 26 September 2023

Valid show-cause notice is crucial for recovery under Section 179: Gujarat HC

September 26, 2023 891 Views 0 comment Print

Explore Bhailal Babubhai Patel Vs PCIT case in Gujarat High Court. Learn why a valid show-cause notice is crucial for recovery under Section 179.

Decoding provisions of Filing of FC-GPR vide FEMA Guidelines

September 26, 2023 2751 Views 0 comment Print

Importance of Form FC-GPR under RBI guidelines for foreign investments in India. Learn filing process, due dates, and implications of late submissions

Addition deleted as cash withdrawals during pre-demonetization more than cash deposited during demonetization

September 26, 2023 672 Views 0 comment Print

ITAT Delhi held that when the assessee has shown cash withdrawals during pre demonetization period more than the cash deposited during demonetization then the source cannot be disputed. Accordingly, addition u/s. 68 deleted.

Reassessment based on change of opinion without any tangible new information unsustainable

September 26, 2023 858 Views 0 comment Print

Bombay High Court held that the reopening of the assessment order based on change of opinion without surfacing of any tangible new information is unsustainable in law and liable to be set aside.

Construction service provided under Jawaharlal Nehru National Urban Renewal Mission is exempt from service tax

September 26, 2023 492 Views 0 comment Print

CESTAT Ahmedabad held that construction service provided under Jawaharlal Nehru National Urban Renewal Mission (JnNURM) are exempted from the clutches of service tax. Accordingly, demand of service tax set aside.

Conversion of firm to company for consideration of paid up share capital doesn’t amount to transfer

September 26, 2023 1743 Views 0 comment Print

ITAT Ahmedabad held that Sale/ conversion of business of assessee-firm as a going concern to company for consideration of paid up share capital does not amount to transfer liable to tax as capital gains.

Penalty order quashed due to insufficient service of notice

September 26, 2023 987 Views 0 comment Print

ITAT Delhi quashed the penalty order passed under section 271(1)(b) of the Income Tax Act as service of notice by way of affixture on the Assessee cannot be construed as sufficient Service of Notice.

‘Deficiency in service’ and ‘unfair trade practice’ both established if party take a step back from its stated position to Consumer

September 26, 2023 747 Views 0 comment Print

In present facts of the case, the Revision Petition was filed under section 21 of the Consumer Protection Act, 1986 which assails order dated 06.02.2015 of the State Consumer Disputes Redressal Commission, Uttar Pradesh, Lucknow.

NCDRC it is not required to re-assess & re-appreciate evidence on record when findings of lower fora are concurrent on facts

September 26, 2023 513 Views 0 comment Print

In present facts of the case, the revision petition was filed under section 21 (b) of the Consumer Protection Act, 1986 assailing the order dated 11.08.2017 of the State Consumer Disputes Redressal Commission, Pandri, Raipur.

NFRA Imposes Penalty and 1-Year Debarment on SRS Limited Auditor

September 26, 2023 20256 Views 0 comment Print

Read about penalty and 1-year debarment imposed by NFRA on CA Apoorve Bansal of M/s SVP & Associates for statutory audit of SRS Limited for Financial Year 2017-18.

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