Follow Us:

Archive: January, 2024

Posts in January, 2024

Simplified Understanding of Section 43B (h): Expenditures Allowed on Payment basis for Micro & Small Enterprises

January 21, 2024 7161 Views 0 comment Print

Explore impact of Section 43B(h) on Micro & Small Enterprises payments. Learn criteria, MSME Act details, scenarios, and compliance recommendations.

HC Condemns GST Registration Cancellation: Flagrant Breach of Natural Justice by AO

January 21, 2024 1068 Views 1 comment Print

Explore the recent Bombay High Court judgment in the case of Monit Trading Pvt. Ltd. against the Union of India & Others, analyzing procedural irregularities and legal nuances leading to the restoration of Monit Trading’s registration under the CGST Act, 2017.

CSI Elects CS B. Narasimhan as President and CS D. Shukla as Vice President for 2024 Term

January 21, 2024 1971 Views 0 comment Print

Get the latest update on ICSIs leadership for 2024. CS B. Narasimhan elected President, CS D. Shukla as Vice President, bringing expertise in Corporate Law and Management.

CCPA Issues Notice to Amazon Over Misleading ‘Sri Ram Mandir Ayodhya Prasad’ Sweets

January 21, 2024 1719 Views 0 comment Print

Central Consumer Protection Authority (CCPA) takes action against Amazon for deceptive sale of Shri Ram Mandir Ayodhya Prasad sweets. Learn about the investigation and potential consequences.

Addition based on third party statement without tangible material is unsustainable

January 20, 2024 7252 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 945 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 870 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 27123 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 14853 Views 2 comments 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 1356 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

Search Post by Date
July 2026
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031