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Archive: November, 2023

Posts in November, 2023

Delhi HC Orders ITAT to Review in Analjit Singh’s Share Valuation Dispute

November 22, 2023 1449 Views 0 comment Print

Explore the Delhi High Court order in Analjit Singh vs. DCIT regarding share valuation. Detailed analysis, key arguments, and the court’s directive for a fresh review.

Lapsing of Cenvat Credit Applies Only in case of Absolute Exemption Notifications

November 22, 2023 591 Views 0 comment Print

Explore the CESTAT Ahmedabad ruling in Suraj Industries vs. C.C.E & S.T.-Silvassa. Analysis of Cenvat Credit Rules, exemption dispute, key arguments, and tribunal’s verdict.

NFRA Imposes Rs. 5 Lakh Penalty, 5-Year Debarment on MAN Industries’ Auditor

November 22, 2023 16836 Views 0 comment Print

NFRA imposes Rs.5 Lakh penalty and 5-year debarment on CA Nilesh Chheda, auditor of MAN Industries (India) Limited, for significant lapses in statutory audit, including failure to report material misstatements and sub-standard audit work. Details of the order and findings revealed in this comprehensive article by the Government of India’s National Financial Reporting Authority.

No addition for interest received on behalf of GOI & deposited in consolidated fund of India

November 22, 2023 648 Views 0 comment Print

Explore the ITAT Delhi ruling in DCIT vs. NHIDCL. Detailed analysis of interest income tax dispute, key arguments, and the tribunal decisive conclusions.

Let export order cannot be issued before payment of full custom duty: CESTAT

November 22, 2023 753 Views 0 comment Print

Explore Odisha Mining Corporation vs. Commissioner of Central Excise case. Detailed analysis of let export order, duty payment, and refund claim rejection.

Tax benefits for Start-ups in India: Section 80-IAC of Income Tax Act,1961

November 22, 2023 18519 Views 0 comment Print

Startups in India can reap tax benefits from Section 80-IAC of Income Tax Act. Learn more about FAQs on tax incentives for startups in India.

GST Dues: Kerala HC Grants Installments: Thomas K. J vs State Tax Officer

November 22, 2023 570 Views 0 comment Print

Read the Kerala High Court decision in Thomas K. J case. Detailed analysis on installment relief for tax arrears. Legal insights and conclusion.

ITAT Mumbai Deletes Addition of Share Application Money – Identity, Creditworthiness & Genuineness Proved

November 21, 2023 1098 Views 0 comment Print

Paramshakti Distributors Pvt. Ltd. vs. ACIT: ITAT Mumbai Deletes Addition of Share Application Money – Identity, Creditworthiness, and Genuineness Proved

ITAT Mumbai restricts addition to 7% of  of value of bogus purchases

November 21, 2023 1374 Views 0 comment Print

Learn about the case involving Noble Corporation and ITAT Mumbai restricting addition to 7% of value of bogus purchases. Discover the key documents and the ruling of Assessing Officer in this blog post.

Personal guarantee (director) is liable to RCM under GST: Telangana HC

November 21, 2023 5595 Views 0 comment Print

Telangana High Court upholds GST liability on director’s personal guarantee. Ruling supports Reverse Charge Mechanism (RCM) under GST. Read the full judgment.

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