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Archive: 22 October 2023

Posts in 22 October 2023

Delhi HC Grants Relief: Condones 170-Day Delay in Income Tax Appeal

October 22, 2023 270 Views 0 comment Print

Delhi High Court grants relief to Amadeus IT Group, condoning a 170-day delay in re-filing an Income Tax Appeal. Details of the case and the court’s decision.

Loan to Equity Conversion Doesn’t Exempt Sec 56(2)(viib): ITAT Mumbai

October 22, 2023 5643 Views 0 comment Print

ITAT Mumbai upheld the application of Section 56(2)(viib) of the Income Tax Act on excess share premium arising from a loan to equity conversion. Learn more about the case.

Delhi HC Directs AO to Provide Evidence in Fictitious Loan Case

October 22, 2023 414 Views 0 comment Print

Delhi High Court directs the Assessing Officer to furnish relevant material supporting allegations of fictitious loan in the case of Rakesh Kumar Mohindroo vs. ITO for AY 2019-20.

No service tax on Composite works Contracts Pre-01.06.2007

October 22, 2023 153 Views 0 comment Print

CESTAT Chennai rules no demand can survive against composite works contract contracts prior to 01.06.2007 in the case of Mertho Constructions vs. Commissioner of Central Excise.

In absence of consignment note transport services in mines cannot be said to be GTA 

October 22, 2023 792 Views 0 comment Print

CESTAT Chennai rules transporters in mines not considered Goods Transport Agency (GTA) without consignment notes, dismissing Service Tax liability for Ramco Cements.

Theobroma vs. Theos: Delhi High Court Resolves Bakery Trademark Battle

October 22, 2023 1194 Views 0 comment Print

The Delhi High Court settles the trademark dispute between Theobroma Foods Pvt. Ltd. and Theos Food Pvt. Ltd. Read the full judgment and analysis.

Section 263 Jurisdiction cannot exceed to issues not forming part of Limited scrutiny

October 22, 2023 2733 Views 0 comment Print

Learn how the Income Tax Appellate Tribunal restricted the jurisdiction of Section 263 regarding issues not forming part of a limited scrutiny assessment in the case of Aggarwal Promoters Vs PCIT.

Limited scrutiny is limited to aspects of information received through AIR returns

October 22, 2023 996 Views 0 comment Print

Explore the Sanjeev Khemka vs PCIT case, addressing limited scrutiny, jurisdiction, and errors under Section 263 – ITAT Kolkata decision.

Limitations on Section 263 Based on Guideline Value vs. Sale Consideration

October 22, 2023 1992 Views 0 comment Print

In CIT Vs Padmavathi, Madras High Court held that Section 263 cannot be invoked merely because guideline value was higher than sale consideration shown in conveyance deed

Understanding LLP: Features, Partners and Admission Process

October 22, 2023 1356 Views 0 comment Print

Learn about Limited Liability Partnerships (LLPs), their features, and the admission of new partners in LLPs. Get insights into the process and rules.

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