Explore issues with GST Input Tax Credit (ITC) claims and need for clarity. Also, discover a plea for an amnesty scheme for affected taxpayers.
Discover the comprehensive list of new GST and Income Tax changes effective from October 1, 2023. Get insights into amendments, implications, and more.
Technology Absorption details not furnished: MCA imposes Penalty of Rs. 8 Lakh. Find out the background, violation and implications of this case with the MCA’s strong action.
ITAT Mumbai held that the levy of penalty under section 271AAB of the Income Tax Act is not mandatory or automatic and same needs to be examined depending upon the facts and circumstances of the case.
In present facts of the case, the NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION NEW DELHI (NCDRC) have held that suppression of facts would be tenable if there is direct relationship between disease which has been concealed and the death of the Insured.
ITAT Ahmedabad held that Department has brought nothing on record to prove that the assessee was involved in price rigging of the instant share or that any form of cash had flown back to the assessee. Accordingly, addition on account of bogus capital gain by sale of shares unjustified.
CESTAT Chennai held that non-payment of tax merely on the basis of bald statement of financial constraint without proving the same is not reasonable cause within the meaning of section 80 of the Finance Act. Accordingly, demand confirmed.
ITAT Mumbai held that receipt of rental income by giving the land on lease to the LLP and non-utilization of the said land does not preclude the assessee to treat the same as agricultural income. Accordingly, the same is exempt.
In present facts of the case, the NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION NEW DELHI (NCDRC) observed that ownership of the vehicle would be considered to be transferred as per the provisions of Sale of Goods Act, 1930.
In present facts of the case the National Commission while dismissing the Appeal observed that the Appellant cannot take ground which are entirely different from those relied upon while repudiating the claim at a subsequent stage.
