"04 November 2023" Archive - Page 4

SC Redirects Tax on generation of electricity Disputes to State High Courts

Union of India Vs NHPC Limited & Ors. (Supreme Court of India)

The Supreme Court of India directs tax disputes related to electricity generation to State High Courts, granting the Union of India the liberty to expedite resolutions....

ESOP Expenditure Allowed as Revenue Expenditure; Section 14A Disallowance Cannot Exceed Exempt Income;

DCIT Vs Dhani Services Ltd. (ITAT Mumbai)

DCIT vs. Dhani Services Ltd.: ITAT Mumbai upholds the deletion of disallowance under Section 14A of the Income Tax Act, along with ESOP expenditure....

When TDS Deductible, No Obligation for Interest under Section 234B: ITAT

DDIT Vs Linklaters (ITAT Mumbai)

DDIT vs. Linklaters (ITAT Mumbai): In cases where certain income qualifies for deduction, interest under Section 234B of the Income Tax Act is not applicable....

Cenvat Credit Not Reversible on ‘Gelatin Mass Waste’ from Manufacturing

Geltec Private Limited Vs Commissioner of Central Excise (CESTAT Bangalore)

CESTAT Bangalore's ruling on Gelatin Mass Waste generated during manufacturing, addressing the demand for CENVAT credit reversal and its sustainability....

Do Provisions of IBC 2016 Override Income Tax Act 1961 in Case of Inconsistencies?

Tata Steel Limited Vs DCIT (Delhi High Court)

Explore the Delhi High Court's view on whether the IBC 2016 Code supersedes Income Tax Act 1961 when inconsistencies arise. Detailed analysis and insights....

Seizing the Moment: Perils of Procrastination and Power of Timely Action

Discover the importance of taking timely action and the consequences of procrastination. Explore the history and principles of the Law of Limitation Act, rooted in public policy for the general welfare of society....

Posted Under: Corporate Law |

A Brief Study on Changes in Information Technology Act

Explore the new rules and provisions of the Information Technology Act 2021, covering social media, OTT platforms, digital news, and key sections of the IT Act. Understand the impact on digital governance and cybersecurity....

Posted Under: Corporate Law |

Understanding Statement of Financial Transaction (SFT)

Dive into the intricacies of the Statement of Financial Transaction (SFT) in India. Learn about reportable transactions, entities filing statements, and consequences of non-compliance. Explore the significance of SFT in pre-filing income returns, the registration process, and reporting obligations for financial institutions under the Inco...

Posted Under: Corporate Law |

Payment to Retiring Partner is Capital Expenditure: ITAT

ITO Vs Sarsan Developers (ITAT Pune)

Payments made as part of a settlement agreement regarding relinquishment of partnership interests are capital expenditures ITAT Pune in ITO Vs Sarsan Developers...

Unabated Assessment: No addition in Absence of Incriminating Materials

Sushil Singla Vs DCIT (ITAT Delhi)

In Completed/Unabated Assessments, AO Cannot Make Additions in Absence of Incriminating Material Found during Section 132 or 132A Search...

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February 2024