"09 November 2023" Archive - Page 2

Reopening u/s. 148 beyond 4 years in absence of full & true disclosure of material facts unsustainable

Troikaa Pharmaceuticals Limited Vs ACIT (Gujarat High Court)

Gujarat High Court held that reopening of assessment under section 148 of the Income Tax Act beyond the period of four years in absence of full and true disclosure of material facts is bad in law....

Corpus Donations Taxable in Absence of Section 11 Exemption

Ramsahaimal Sahuwala & Sons Charitable Trust Vs ACIT (ITAT Chennai)

ITAT Chennai held that corpus donations received by the Trust is income of the Trust when the Trust is not entitled for the exemption under section 11 of the Income Tax Act....

Kerala HC Directs Correction in GSTR-3B via Appellate Authority under Section 107

Brothers Trade Links Vs State Tax Officer (Kerala High Court)

Kerala High Court held that the petitioner should approach the appellate authority under Section 107 of the Central Goods and Services Tax Act for getting permission to correct mistake in Form GSTR-3B....

Section 80G Registration doesn’t Preclude Trust from availing Section 115BBC(2)(b) benefit

DCIT Vs Shree Sai Baba Sansthan Trust (ITAT Mumbai)

ITAT Mumbai held that merely because an assessee is registered u/s 80G of the Act will not automatically mean that such Trust cannot have any religious purpose and therefore cannot avail benefit of Section 115BBC(2)(b) of the Income Tax Act....

Penalty based on notice containing erroneous category of service is illegal

Commissioner of Service Tax Vs 3I Infotech Ltd. (Supreme Court of India)

Supreme Court held that levy of penalty on the basis of a show cause notice containing a completely erroneous category of service is illegal....

Service tax demand on job-work activity under Manpower Recruitment or Supply Agency Service unsustainable

Roopsinh Jodhsinh Chauhan Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad)

CESTAT Ahmedabad held that as the contract is for job-work carried out by the appellant for the service recipient. The same doesn’t fall under the category of Manpower Recruitment or Supply Agency Service and therefore the service tax demand unsustainable....

Duty on clandestine clearance unsustainable in absence of tangible evidence establishing appellant as manufacturer

Pareshbhai Ramanbhai Amin Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad)

CESTAT Ahmedabad held that fact of clandestine manufacture and clearance thereof is established, however, since there is no clinching tangible evidence or any corroborative evidence to establish the appellant as a manufacturer, liability of duty, penalty cannot be fastened....

Insurance Ombudsman (Amendment) Rules, 2023

Notification No. G.S.R. 828(E). 09/11/2023

Explore the latest amendments to the Insurance Ombudsman Rules, 2017 by the Ministry of Finance. Changes in financial services institutions, resignation protocols, awards, and more....

37 FAQ’s on Foreign Company’s Registration in India

Explore statutory obligations for foreign entities in India under CA, 2013. Learn about registration, financial statements, and compliance requirements....

Posted Under: Income Tax |

From Certificates to Clicks: Private Company Dematerialization Process

Explore the dematerialization process mandated by the Companies (Prospectus and Allotment of Securities) Second Amendment Rules, 2023, affecting private companies. From rules to procedures, understand the shift from physical shares to electronic holdings....

Posted Under: Income Tax |

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