ITAT Jaipur held that initiation of penalty proceedings u/s. 271AAB(1A) of the Income Tax Act without specifying the ground and default on the part of the assessee and also without specifying the undisclosed income on which penalty was proposed to be levied is unsustainable-in-law.
ITAT Kolkata held that once the TDS is deducted then the liability resulting from the non-deposit of TDS by the deductor cannot be fasten on the deductee. Hence, denial of TDS credit to deductee unjustified.
Explore the groundbreaking report on Direct Listing of Indian Companies on IFSC Exchanges. IFSCA’s Working Group offers global best practices, regulatory insights, and a vision for raising foreign capital through GIFT IFSC.
Explore IFSCA’s proposed guidelines on assets, liabilities, and solvency for life insurance businesses in 2023. Provide your feedback by January 10, 2024.
Government adjudication order under Section 454 for non-compliance of Section 92 by Trinity Tradelink Limited. Detailed analysis, findings, and penalty implications explained.
Explore the proposed guidelines by IFSCA for assets, liabilities, and solvency in financial services centers. Share your views and suggestions. Deadline: January 10, 2024.
Explore the Reserve Bank of India’s draft framework for recognizing Self-Regulatory Organizations (SROs). Provide feedback by January 25, 2024, to shape the final framework.
Get the latest update from DGFT on minimum value addition for spices under FTP 2023. Learn about Para 4.09 (v) and its implications for exporters and importers.
Stay informed with Customs Notification 93/2023. Updated exchange rates for foreign currencies, impacting imports and exports. Effective from 22nd December 2023.
Govt extends the existing concessional import duties on Masur Dal up to and inclusive of the 31st March, 2025. The same was earlier extended upto 31st March, 2024 vide notification No. 65/2022-Customs, dated the 29th December, 2022.
