"03 November 2023" Archive - Page 3

HC acquits CA in misconduct case for delay & lack of evidence

Institute of Chartered Accountants of India Vs CA Gordhanbhai Madhabhai Savalia (Bombay High Court)

Bombay High Court acquits CA Gordhanbhai Madhabhai Savalia, citing inordinate delay, lack of evidence, and legal complexities in professional misconduct case....

Section : ITAT deletes reasonable Excess Jewelry Addition for Wealthy Assessee

Ankit Sharma Vs DCIT (ITAT Delhi)

ITAT Delhi rules addition u/s 69A for excess jewelry during a search operation unsustainable as the assessee belonged to a wealthy family and received jewelry on occasions...

Penalties for not Maintaining Documents for Specified Domestic Transactions

Penalties for failing to maintain records of specified domestic transactions. Learn about arm's length pricing & essential document requirements...

IFSCA Circular: Updated Reporting Norms for Fund Management Entities

Circular No. F. No. 970/IFSCA/FME Supervision/2023-24/2 03/11/2023

Stay informed about the latest IFSCA circular amending reporting norms for Fund Management Entities. Quarterly reporting now mandatory. Read the details here...

National Savings Recurring Deposit (Third Amendment) Scheme, 2023

Notification No. G.S.R. 818(E) 03/11/2023

Introduction: The Ministry of Finance, Department of Economic Affairs, issued a significant notification on November 3rd, 2023. This notification, G.S.R. 818(E), introduces amendments to the National Savings Recurring Deposit Scheme 2019. The amendments encompass changes in repayment amounts, maturity periods, and provisions for legal hei...

Separate Invoicing for Tubes and Flaps Doesn’t Affect Cenvat Credit

Goodyear India Ltd. Vs Commissioner of Central Excise (CESTAT Chandigarh)

Cenvat Credit on Input or Capital Goods could not be denied merely for showing tubes and flaps separately in invoices. Moreover, tubes and flaps were used in the manufacture of the tyres and as such qualify to be “inputs” given the definition given under Rule 2(k) of CCR, 2004....

Section 148 Reassessment Set Aside for Lack of Deficiency in Assessee’s Explanation

Koa Investment Limited Vs ITO (Delhi High Court)

Delhi High Court held the reassessment proceedings under section 148 of the Income Tax Act as liable to be set aside as AO failed to demonstrate that explanation given by the assessee was deficient....

Comprehensive Guide: Tax Treatment of Dividends Received

Explore dividend taxation for investors and corporations, including changes post-April 2020. Learn about domestic and foreign dividends, tax rates, and more....

Posted Under: CA, CS, CMA |

GST on lease renewal amount: AAR Gujrat Ruling

In re Market Cooperative Shops & Warehouses Society Ltd (GST AAR Gujrat)

Get insights into GST implications on lease renewal and premium payments. Key rulings on Reverse Charge Mechanism, collection from shareholders, and more....

AAR rejects advance ruling application filed by non-supplier 

In re Tasty Thrills LLP (GST AAR Gujarat)

Applicant before us is not supplier of service and that ruling sought is not for admissibility of input tax credit in respect of supply received by applicant....

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