Understanding the financial year of a company is crucial for accurate financial reporting and compliance. Section 2(41) of the Companies Act, 2013, defines the financial year and sets the standard for its determination. This article delves into the reasons companies may choose to change their financial year, the process involved, and the compliance steps required. […]
Read the full text of CESTAT Kolkata’s order on the Commissioner of Customs vs. Sawetri Trading Company case. Analysis reveals key factors influencing customs duty demand on Poppy Seeds.
Delhi High Court ruling on PCIT vs Trojan Developers Pvt. Ltd. AO’s enquiry on high premium shares and HC’s critique of Section 263 exercise. Full text of judgment.
Delhi High Court quashes the cancellation of GST registration for Radhey Trading Company, citing insufficient details in the show cause notice and retrospective cancellation order.
Read ITAT decision on the eligibility of a cooperative society for a deduction under Section 80P(2)(d) of the Income Tax Act. The case, Keyyur Primary Agricultural Co-operative Society Ltd. Vs ITO, addresses interest income on investments in a cooperative bank without a banking license.
HC court upheld factual findings of lower authorities, emphasizing its limited jurisdiction under Section 260A of Income Tax Act. It clarified that it cannot reevaluate questions of fact in the absence of any grounds alleging perversity in the findings.
ITAT Chennai’s in Ethiraj Hotel Mart Vs DCIT held that as assessee declared excess stock as business income and provided a plausible explanation for its source, it should be taxed as ‘normal business income’ and not as ‘unexplained investment’ under section 69B.
Explore key promises made in past Union Budgets and track the government’s progress in fulfilling them. From MSME benefits to tax exemptions, a comprehensive overview awaits.
Stay informed with the latest Aadhaar updates! UIDAI announces amendments to the Aadhaar (Enrolment and Update) Regulations, 2016. Learn about changes, procedures, and more.
Stay informed about the Union Budget 2024-25 changes in ICES. Learn how the Directorate General of Systems manages updates and their impact on customs procedures.
