In the case of Metro Filling Station vs. ITO (ITAT Delhi), an addition for unexplained cash deposits was challenged. The tribunal ruled in favor of the assessee.
Analyzing the ITAT Pune decision in the case of RBL Bank Ltd Vs DCIT on non-allowance of interest on delayed TDS payment and other key issues. A comprehensive review for financial and tax professionals.
CESTAT held that when there is doubt regarding documents, authority should seek clarification/explanation rather than relying on assumptions.
Explore Overseas Direct Investment (ODI) guidelines by the Reserve Bank of India, covering eligibility, prohibited sectors, investment limits, reporting requirements, and penalties for non-compliance. Learn about ODI for Indian parties and resident individuals, with insights into FEMA regulations. Additionally, understand the establishment of branches abroad, eligibility criteria, remittance of funds, conditions, and reporting requirements. Stay informed about prohibited sectors, application processes, and compliance for seamless overseas business expansion.
Explore intricacies of Sections 269SS, 269T, and 269ST of Income Tax Act, 1961. Learn how these sections aim to curb cash transactions and tax evasion.
In this comprehensive article, we will delve into these issues, conduct a root cause analysis, and propose resolutions to empower taxpayers and tax professionals to address these challenges effectively.
Explore the legal battle in Smt. Shashikala Ram Kumar vs ACIT case, analyzing additions under 40(a)(ia) & 40A(3). Understand key arguments, judicial opinions, and the Tribunal decision.
Delhi HC rules coal allocation itself not proceeds of crime in Prakash Industries case. Allocation, if fraudulent, may lead to subsequent gains constituting proceeds. Legal analysis of court findings on money laundering charges, allocation’s connection to criminal activity, and limitations under PMLA Sections 2(1)(u) and 3.
Analysis of CESTAT Ahmedabad decision in Gujarat Alkalies and Chemicals Ltd vs C.C.E. & S.T., focusing on retrospective effects of CBEC clarification on excise tax for Chlorinated Paraffin.
Learn about Goods and Services Tax Network (GSTN) recent advisory warning GST Suvidha Providers (GSPs) against scraping GST Common Portal.
