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Archive: 13 February 2024

Posts in 13 February 2024

Kerala HC Orders swift CBDT Decision on Co-op Deposit Guarantee Fund’s Section 10(46A) Exemption Request

February 13, 2024 426 Views 0 comment Print

Kerala High Court directs swift decision on Kerala Co-operative Deposit Guarantee Fund Board’s exemption application under Section 10(46A) of the Income Tax Act.

ITAT disallows cost of improvement incurred by Company for individual’s flat

February 13, 2024 453 Views 0 comment Print

ITAT Pune rules against a company’s claim for improvement costs on an individual’s flat in Arun Tulshidas Kharat Vs DCIT case. Detailed analysis and implications here.

ITAT Levies Rs. 25,000 Cost Per Appeal on Delinquent Assessee Jet Airways

February 13, 2024 591 Views 0 comment Print

In light of ongoing NCLT insolvency proceedings, ITAT Mumbai orders Jet Airways to contribute Rs 25,000 to the Prime Minister Relief Fund, emphasizing the importance of compliance.

No Section 68 Additions Without Substantive Inquiry & Evidence, Mere Suspicions Insufficient

February 13, 2024 1959 Views 0 comment Print

Allahabad High Court upholds the deletion of an income tax addition under Section 68 for Paswara Papers Ltd., affirming the genuineness of the transaction.

No Penalty for Expired E-Way Bills if no Tax Evasion Intent: Allahabad HC

February 13, 2024 2043 Views 0 comment Print

Allahabad High Court orders refund of tax and penalty to Globe Panel Industries India Pvt Ltd, highlighting the lack of intent to evade tax due to an expired GST E-Way Bill.

Settlement in IBC Section 7 Proceedings Does Not Conclude Section 43 Actions: NCLT

February 13, 2024 657 Views 0 comment Print

NCLT Mumbai clarifies in Black Rock Financial Services vs Piramal Capital case: Settlement or dropping Sec. 66 doesn’t end proceedings under Sec. 43 automatically.

GST on Transfer of Leasehold Rights, Upfront Premium & ITC Eligibility

February 13, 2024 13695 Views 0 comment Print

Clarification on GST for transferring leasehold rights, including upfront premium taxability and ITC eligibility, as ruled by AAR Uttar Pradesh.

Transfer of Leasehold Rights and GST on Noida Authority Allotted Land

February 13, 2024 3426 Views 0 comment Print

In re Fena Private Limited (AAR Uttar Pradesh) The Authority for Advance Ruling (AAR), Uttar Pradesh, examined the case of Fena Private Limited concerning the Goods and Services Tax (GST) implications on the transfer of leasehold rights of land allotted by the Noida Authority. The primary questions revolved around whether such a transfer constitutes a […]

Correct HSN Code and GST Rate for Sterilization Reels and Pouches

February 13, 2024 1404 Views 0 comment Print

Discover the correct HSN code and GST rate for sterilization reels and pouches as ruled in the case of Rups Medipack Private Limited by the GST AAR Uttar Pradesh.

E-Rickshaw GST Rate Advance Ruling application Withdrawn: AAR Update

February 13, 2024 696 Views 0 comment Print

Bestway Agencies Pvt. Ltd. withdrew its AAR application on e-rickshaw GST rates following a CBIC clarification, rendering the request infructuous.

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