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Archive: 21 October 2023

Posts in 21 October 2023

Section 148A(b) provides minimum seven (7) days for filing response

October 21, 2023 2229 Views 0 comment Print

Delhi High Court quashes Income Tax notice under Section 148A(d) for AY 2019-20, granting two weeks to file a comprehensive response. Learn more about the case.

GST अधिनियम से उत्पन्न समस्याओं पर प्रधानमंत्री नरेंद्र मोदी को पत्र

October 21, 2023 2397 Views 0 comment Print

GST Act से उत्पन्न समस्याओं के संबंध में माननीय श्री नरेंद्र मोदी जी प्रधानमंत्री भारत सरकार को पत्र प्रेषित आदरणीय प्रधानमंत्री जी, सादर नमस्कार, महोदय, निवेदन यह है। कि आपके मार्गदर्शन में हमारा देश दिन प्रतिदिन उन्नति की ओर अग्रसर है। इस उन्नति के लिए आपके द्वारा एक क्रांतिकारी कदम देश में एक टैक्स एक […]

Tax Treatment on Compulsory Land Acquisition: Rules & Exemptions

October 21, 2023 31149 Views 0 comment Print

Learn about tax implications of land acquisition, including capital gains, TDS, exemptions, and penalties. Understand Section 194LA and Section 10(37).

GST Council clarifies on Special INR Vostro Account Remittances

October 21, 2023 2898 Views 0 comment Print

GST Council’s latest recommendations on Special INR Vostro account remittances provide exporters with clarity, simplifying GST refunds and unlocking working capital.

No Penalty for Scrap Goods Cleared Without Further Manufacturing Process After Paying Duty Equivalent to CENVAT Credit Taken

October 21, 2023 174 Views 0 comment Print

CESTAT Chennai’s ruling in Balmer Lawrie & Co. vs. Commissioner of GST & Central Excise: Central excise duty on metal containers returned as scrap analyzed. No penalty levied.

Non-Inheriting Son cannot be a Legal Representative in Income Tax Proceedings

October 21, 2023 333 Views 0 comment Print

In Javed Karimkhan Patel vs. ITO, ITAT Pune rules that a son, who did not inherit estate of deceased assessee, cannot be a legal representative in income tax proceedings.

Rejection of declared value based on NIDB data on similar goods unsustainable

October 21, 2023 408 Views 0 comment Print

CESTAT Kolkata held that rejection of declared value based on NIDB data on similar goods unsustainable. Accordingly, differential duty demand and imposition of penalty thereon is unsustainable.

NRI’s Foreign Bank Interest Not Taxable in India: ITAT Delhi

October 21, 2023 762 Views 0 comment Print

In a case involving Anand Persad Jaiswal, ITAT Delhi ruled that interest income earned by a non-resident Indian (NRI) from a foreign bank is not taxable in India under section 5(2) of the Income Tax Act.

ITAT Denies Exemption u/s 10(38) for Sham Transaction with Paper Companies

October 21, 2023 2133 Views 0 comment Print

In the Archana Rajendra Malu vs. ITO case, ITAT Pune upheld the denial of tax exemption under Section 10(38) of the Income Tax Act due to sham transactions with paper companies.

HRA Exemption Denied, Remitted for Reconsideration by ITAT Bangalore

October 21, 2023 924 Views 0 comment Print

In the Ravindra R.V. vs. DCIT case, ITAT Bangalore remits the denial of HRA exemption under Section 10(13A) back to the AO for reconsideration due to lack of salary breakup.

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