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Archive: 26 December 2023

Posts in 26 December 2023

TDS deduction on payments to Eco Development Committee matter remitted back for reconsideration

December 26, 2023 1509 Views 0 comment Print

ITAT Jaipur held that requirement of TDS deduction u/s. 194C of the Income Tax Act on payments made to Eco Development Committee remanded back to AO with a direction to relook on various aspects.

Category III AIF cannot invest into mutual fund except liquid mutual funds

December 26, 2023 1170 Views 0 comment Print

Under SEBI’s regulations, Category III AIFs face restrictions on permanent Mutual Fund investments. Explore detailed analysis and limitations for AIFs in evolving financial landscape

Smartra immobiliser a Vehicle Theft Prevention Security Device classifiable under CTH 8708

December 26, 2023 474 Views 0 comment Print

CESTAT Bangalore held that since the smartra immobiliser is only a security device to prevent a vehicle from being stolen it is rightly classifiable under Chapter Heading 8708 as parts of motor vehicle.

Fraudulent VAT refund case: Bail granted as investigation already completed

December 26, 2023 729 Views 0 comment Print

Punjab and Haryana High Court granted the bail to the petitioner/dealer involved in the matter of fraudulently obtaining VAT refund based on false and fabricated documents as there is unexplained huge delay and investigation is already complete.

Accommodation entry of huge amount needs further enquiry hence matter remanded

December 26, 2023 1914 Views 0 comment Print

ITAT Mumbai held that receipt of Rs 37 crores of exempt capital gain in a non-descript listed company operated by the accommodation entry provider, who has confessed that he has provided accommodations entries to the beneficiaries, including assessee remanded back to the file of AO for further enquiry.

Domain Name Registration Fees Not Royalty: Delhi HC

December 26, 2023 750 Views 0 comment Print

Explore landmark case of Godaddy.Com LLC v. ACIT [2023] and learn why Delhi High Court ruled domain registration fees as not royalty. Get insights on the decision.

Madras HC dismisses Writ Petitions, maintaining statutory mandate of Section 194N

December 26, 2023 3891 Views 0 comment Print

Explore Madras High Court’s judgment on primary agricultural credit cooperative societies challenging Circulars related to tax deduction on cash withdrawals, with a focus on Section 194N.

Madras HC Upholds Section 194N, Dismisses Challenges to Circulars by Co-op Banks

December 26, 2023 711 Views 0 comment Print

Explore the Madras High Court’s judgment on Primary Agricultural Cooperative Credit Societies challenging Circulars related to tax deduction on cash withdrawals, with an analysis of legal provisions.

Faceless Appeal Scheme 2021 in India

December 26, 2023 9336 Views 1 comment Print

Discover the transformative Faceless Appeal Scheme (FAS) 2021 in India’s direct tax system. This flagship e-governance initiative eliminates physical interactions, ensuring efficiency, transparency, and accountability. Explore its features, filing procedures, and taxpayer responsibilities for a seamless appeal process

Taxpayer’s Charter- Obligations & Expectation of Income Tax Dept.

December 26, 2023 3990 Views 0 comment Print

Explore Income Tax Department’s Taxpayer’s Charter 2020, detailing its vision, mission, and service standards. Learn about obligations, expectations, and service delivery for a fair and transparent tax system.

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