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Archive: 23 January 2024

Posts in 23 January 2024

Notification No. 14/2024-Income Tax Dated: 23rd January, 2024

January 23, 2024 2664 Views 0 comment Print

Explore the latest Income Tax changes with Ministry of Finance Notification 14/2024. Learn about retrospective effects and amendments for 2020-2025.

Natural Justice Violation in Draft Assessment: Kerala HC Sets Aside Order

January 23, 2024 864 Views 0 comment Print

Kerala High Court rules failure to grant a hearing against draft assessment order violates natural justice. Read the full judgment and its impact on the assessment process.

Section 43B: What’s New and Why It Matters & Impact on MSME Payments

January 23, 2024 34215 Views 1 comment Print

Explore significance of Finance Act 2023 amendment to Section 43B of Income Tax Act. Learn how it affects deductions for Micro and Small Enterprises (MSMEs) and its implications.

On very first hearing date, appeal was concluded: Calcutta HC Set Aside Order

January 23, 2024 17436 Views 1 comment Print

Appellate authority passed the appellate order very first date of hearing only on one notice- Calcutta HC  Set Aside Order for Violating Natural Justice

Ram Mandir Trust: Section 80G Deductions & Online Donations Guide

January 23, 2024 8208 Views 0 comment Print

Discover the Shri Ram Janmabhoomi Teerth Kshetra Trust, its role, and how donations for the Ram Mandir can fetch Section 80G tax deductions. Learn online donation steps and claim tips.

Time Limit under GST Section 62(2) Not Mandatory for Filing Returns: Madras HC

January 23, 2024 16584 Views 0 comment Print

Explore the Madras High Court ruling in Comfort Shoe Components vs. Assistant Commissioner case. Section 62(2) time limit not mandatory for GST return filing, providing relief.

ITAT Validates Section 69A Addition: Holding Funds for Extended Period Deemed Imprudent

January 23, 2024 3495 Views 0 comment Print

Explore the ITAT Bangalore ruling in Shaon Paul vs. ITO case. Addition under section 69A upheld due to imprudent retention of a sum for a long period. Details here.

TNVAT Section 27(4) Penalty invalid in absence of SCN & ITC Misuse findings: Madras HC

January 23, 2024 435 Views 0 comment Print

Read about Madras High Court’s decision invalidating penalty under Section 27(4) without a show cause notice. Learn about the case T. V. Sundram Iyengar and Sons Limited Vs Assistant Commissioner (ST).

AO cannot restrict cost of fund on ad-hoc basis without any legal basis: ITAT Bangalore

January 23, 2024 384 Views 0 comment Print

Explore the ITAT Bangalore ruling in Sri Kanyakaparameshwari Vividoddesha Sahakara Sangha Niyamita vs. ITO case. AO’s 15% flat rate on ad-hoc basis for cost of funds deleted. Details here.

ITAT upholds Section 80IC Disallowance for Form 10CCB Non-filing

January 23, 2024 786 Views 1 comment Print

Explore the TVS Srichakra Limited vs. DCIT case at ITAT Chennai, where failure to file Form 10CCB results in disallowance of deduction under Section 80IC. Read the detailed analysis and conclusion.

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