"September, 2023" Archive - Page 30

Initiation of proceedings u/s 147 based on typographical error unsustainable

ITO Vs Dharmesh Hasmukhbhai Mehta (ITAT Ahmedabad)

ITAT Ahmedabad held that a typographical error cannot be a reason to believe that the income of the assessee has escape assessment and hence initiation of proceedings under section 147 of the Income Tax Act is unsustainable....

Invocation of revisionary jurisdiction u/s. 263 unjustified when AO took plausible view

Usha K. Jolly Charitable Trust Vs CIT (ITAT Pune)

ITAT Pune held that invocation of revisionary jurisdiction u/s. 263 of the Income Tax Act unjustified when AO examined the claim and took one of the plausible views and hence the assessment order cannot be termed as an “erroneous”....

GST AAR: Composite Works Contract Tax Rate for Hitachi Energy India

In re Hitachi Energy India Limited (GST AAR AAR Chhattisgarh)

Explore GST AAR Chhattisgarh's ruling on Hitachi Energy India's service supply, classifying it as a composite works contract at 18% tax rate. ...

MCA Circular: AGMs via VC/OAVM for 2024 Allowed

General Circular No. 09/2023 25/09/2023

MCA allows companies to conduct Annual General Meetings (AGMs) for 2024 through Video Conference (VC) or Other Audio Visual Means (OAVM). Details and implications....

Demystifying Patent and Compulsory Licensing in Saudi Arabia: A Comprehensive Guide to Patent and Compulsory Licensing

Explore comprehensive guide to patent licensing and compulsory licensing in Saudi Arabia. Learn about legal framework, types of patents, voluntary and compulsory licensing, recent developments, and role of SAIP in promoting innovation and protecting public interests....

Posted Under: Income Tax |

Patents Act vs. Competition Act: Landmark Decision Reshapes Legal Landscape

Explore landmark decision reshaping legal landscape as Patents Act takes precedence over Competition Act in patent-related disputes. What it means for innovators and competition....

Posted Under: Income Tax |

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: Income Tax |

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: Income Tax |

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....

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February 2024