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Archive: September, 2023

Posts in September, 2023

ITAT Grants 30% Depreciation on Philips India’s Business-Owned Moulds

September 21, 2023 516 Views 0 comment Print

Read the full text of the ITAT Kolkata order in the case of Philips India Limited vs. ACIT regarding the grant of 30% depreciation on business-owned moulds.

Transferee Company eligible to take credit of TDS Deducted in Transferor Company’s Hands Upon HC’s Amalgamation Scheme Approval

September 21, 2023 3444 Views 0 comment Print

Read about the ITAT Kolkata case of Popular Complex Advisory Pvt. Ltd. vs. ITO involving TDS credit in amalgamation schemes approved by HC.

Section 68 Inapplicable if no Cash Transactions & no sum of money credited in books 

September 21, 2023 1056 Views 0 comment Print

Learn about the addition under Section 68 of the Income Tax Act and the importance of explaining identity, creditworthiness, and transaction genuineness in the case of ITO vs. Natraj Mercantile Pvt Ltd.

Section 143(2) Notice Mandated When Assessment Differs from Filed Return

September 21, 2023 5376 Views 0 comment Print

Learn about the validity of re-assessment without notice u/s 143(2) in the case of Gonuguntla Nirmala Devi vs. ACIT. Explore the full text of the ITAT Hyderabad order.

HC Emphasizes Procedural Fairness in Setting Aside Assessment Order

September 21, 2023 459 Views 0 comment Print

Delhi High Court sets aside the assessment order in Usha Gupta vs. ITO case, citing non-consideration of a 10-day adjournment request for SCN response. Explore the full judgment.

CESTAT Kolkata reduces Penalty in Red Sanders Wood Export Case

September 21, 2023 207 Views 0 comment Print

CESTAT Kolkata reduces penalty under Customs Act for exporting Red Sanders Wood. Analysis of the case involving National Agency vs. Commissioner of Customs.

Delhi HC Orders Swift Resolution of 7-Year Delayed Rectification Application

September 21, 2023 288 Views 0 comment Print

Delhi High Court directs timely disposal of rectification application by Intertek India Private Limited, highlighting a 7-year delay. Analysis and implications.

CESTAT Ahmedabad Set Aside Penalty due to Lack of Malafide Intent

September 21, 2023 375 Views 0 comment Print

CESTAT Ahmedabad ruling in Sonic Chain Pvt Ltd Vs C.C.E. & S.T.-Rajkot clarifies no penalty under Central Excise Rule 26 if no malafide intention. Analysis.

Delhi HC Quashes Order u/s 127 IT Act Due to Unconsidered Objection

September 21, 2023 693 Views 0 comment Print

Delhi High Court quashes Income Tax Act Section 127 order as petitioner’s objection was not considered. Analysis and implications of the ruling.

57 FAQ’s on Statutory Obligations for Companies operating in India

September 21, 2023 16782 Views 0 comment Print

Explore comprehensive guide to statutory obligations for Indian companies, including Secretarial Audit, compliance rules, and filing requirements to ensure legal and responsible business conduct.

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September 2023