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Archive: 02 February 2024

Posts in 02 February 2024

Delhi HC Quashes ED Prosecution on Accused Acquittal/Discharge in Predicate Offense

February 2, 2024 1305 Views 0 comment Print

Delhi High Court judgment on quashing ED complaint (CC no.01/2011) under PMLA against Jeevan Kumar after his acquittal in the predicate offence. Legal analysis and implications.

Management Support Fees Not FTS under India-Singapore DTAA: ITAT Delhi

February 2, 2024 480 Views 0 comment Print

Read the detailed analysis of ITAT Delhi’s order in Cameron (Singapore) vs ACIT case. Learn why management support fees are not considered FTS under India-Singapore DTAA. Get insights on grounds, TDS credit, interest, and penalty.

American Express (India) Wins Tax Battle: ITAT Delhi Grants Relief on Relocation Expenses

February 2, 2024 486 Views 0 comment Print

Read the full text of the ITAT Delhi order on American Express (India) Pvt. Ltd. vs. JCIT. The decision grants relief on relocation expenses under section 40(a)(i) of the Income Tax Act.

ITAT Directs AO to Allow Indexed Cost of Improvement & Recompute Capital Gains

February 2, 2024 6288 Views 1 comment Print

Read the full text of the ITAT Delhi order in the Ashwin Kapur vs ACIT case. The ITAT directs the AO to allow the indexed cost of improvement and recompute capital gains under section 48 of the Income Tax Act.

Utsav Securities vs. VA Realcon: NCLT Delhi Approves Resolution Plan

February 2, 2024 276 Views 0 comment Print

Read the full text of the NCLT judgment/order on the resolution plan submitted by Durgesh Merchants Limited for VA Realcon. Key details and analysis provided.

Dispute Resolution in NCLT Indore – Indian Bank vs. Indison Agro Foods Ltd

February 2, 2024 309 Views 0 comment Print

Explore the NCLAT judgment on the State Bank of India’s plea against Indison Agro Foods Ltd. Analysis of claim disputes, voting share, and IRP replacement.

Implications of Not Claiming Exemptions under Section 115BAC

February 2, 2024 2562 Views 0 comment Print

Explore how opting for tax under Section 115BAC affects exemptions in various heads of income. Learn about deductions not available and key considerations for taxpayers.

ITAT delete Section 271A Penalty: AO Fails to Prove Appellant’s Business Mandating Books under Section 44AA

February 2, 2024 669 Views 0 comment Print

Read the detailed analysis of Amey Pravinbhai Brahmbhatt Vs ITO case where ITAT Ahmedabad deleted the penalty under section 271A for failure to fulfill conditions u/s 44 AA of Income Tax Act.

Verify Udyam Registration Number & its relevance with Section 43B(h) of Income Tax Act

February 2, 2024 4704 Views 0 comment Print

Explore significance of verifying Udyam Registration Number in compliance with Section 43B(h) of Income Tax Act. Learn how it ensures timely payments and supports MSME liquidity.

DGFT Extends Track and Trace System Deadline for Drug Exports

February 2, 2024 468 Views 0 comment Print

Stay informed on DGFT’s latest update – Public Notice No.39/2023 extends the deadline for Track and Trace system implementation in drug exports until 01.02.2025.

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