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Archive: 20 January 2024

Posts in 20 January 2024

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6054 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19110 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Addition based on third party statement without tangible material is unsustainable

January 20, 2024 3384 Views 0 comment Print

ITAT Mumbai held that addition under section 68 of the Income Tax Act merely on the basis of information and statement of third party without any tangible material on record is unsustainable in law.

Revision u/s 263 sustained as assessment completed in a routine and mechanical manner

January 20, 2024 450 Views 0 comment Print

ITAT Mumbai held revisionary order under section 263 of the Income Tax Act to be proper and just as assessment was completed in a routine and mechanical manner without due diligence and without due application of mind.

Punitive damage being negative restitution not allowable as business expense

January 20, 2024 426 Views 0 comment Print

ITAT Delhi held that punitive damage being allowed as negative restitution cannot be allowed as business expenditure under section 37(1) of the Income Tax Act

MSME Payments under Section 43B(h): Deductions on Actual Payment

January 20, 2024 25608 Views 1 comment Print

Explore the implications of the recent Income Tax amendment to Section 43B affecting MSMEs. Understand how timely payments are crucial and the potential impact on tax liability.

Thin Cap Adjustment Provisions Under Section 94B

January 20, 2024 2049 Views 0 comment Print

Explore the Thin Cap Adjustment Provisions under Section 94B of the Income Tax Act, addressing base erosion and profit shifting. Learn about its impact on NBFCs, start-ups, and global approaches.

Person Converting Religion For Marriage Must Be Informed Of Legal Consequences Like Inheritance, Maintenance: Delhi HC

January 20, 2024 660 Views 0 comment Print

Explore the Delhi High Courts landmark judgment on interfaith marriages, emphasizing informed religious conversion and legal consequences. Insights on guidelines and implications

Constitution of an Expert Committee on REITs and InvITs in IFSC

January 20, 2024 891 Views 0 comment Print

Explore the formation of IFSCA’s Expert Committee on REITs and InvITs, aiming to attract global investments for India’s infrastructure projects. Learn more!

SEBI’s Proposal to Boost Trust in AIF Ecosystem: Consultation Paper

January 20, 2024 687 Views 0 comment Print

Explore SEBIs consultation paper addressing trust issues in the AIF ecosystem. Learn about proposed measures, global concerns, and how stakeholders can contribute. Provide your feedback now

Bombay HC Quashes GST Registration Cancellation: Restoration Order Issued

January 20, 2024 5892 Views 0 comment Print

Bombay High Court quashes GST registration cancellation order, citing lack of reasons in the show cause notice. Detailed analysis, implications, and restoration order provided.

762 Section 148 Notice Cases: Gujarat HC Adheres to SC Ruling in Ashish Agarwal

January 20, 2024 1224 Views 0 comment Print

In a recent ruling, the Gujarat High Court has echoed the Supreme Courts decision in the case of Union of India and Others vs. Ashish Agarwal, wherein it addressed a group of petitions challenging the constitutional validity of  Notification No. 20/2021 dated 31.03.2021 as well as Notification No. 38/2021 dated 27.04.2021 and consequential notices under Section 148 of the Income Tax Act.

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