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Archive: 03 March 2024

Posts in 03 March 2024

ITAT condones Delay in filing appeal due to Mistake of Counsel & restore matter to CIT(A)

March 3, 2024 1524 Views 0 comment Print

Explore the case of Gundarlahally Ramesh Meera Vs ITO as ITAT Bangalore directs readjudication due to delay in filing appeal before lower authorities.

Online Video Sales in India Not ‘Royalty’ under India-USA DTAA: ITAT Bangalore

March 3, 2024 780 Views 0 comment Print

ITAT Bangalore rules receipts from the sale of online videos by Plural Sight LLC to Indian clients are not taxable as ‘Royalty’ under India-USA DTAA.

Bombay HC quashes reassessment notices issued after Limitation period

March 3, 2024 3210 Views 0 comment Print

Bombay High Court quashes reassessment notices against Godrej Industries, citing issuance beyond the limitation period. A landmark victory for corporate law.

No Section 11(1) Exemption for Memento Expenses to Milk Association Heads

March 3, 2024 861 Views 0 comment Print

Read the full text of the order from ITAT Bangalore regarding denial of exemption under Section 11(1) of the Income Tax Act for expenses incurred on mementos to Presidents and Secretaries of Milk Producers Association.

Delhi HC Disposes Writ Petition on Provisional Attachment of Cash Credit Accounts

March 3, 2024 858 Views 0 comment Print

Delhi High Court disposes writ petition challenging the provisional attachment of cash credit accounts under Section 83 of the CGST Act, highlighting the statutory limitations and reservations.

Storage Charges akin to Rent, Require 20% TDS under Section 194I

March 3, 2024 7056 Views 0 comment Print

Bombay High Court rules storage tanks not land or building, impacting TDS deductions on storage charges. A pivotal decision for tax compliance practices.

GST सर्वे मॉक ड्रिल- The Original Script

March 3, 2024 2517 Views 0 comment Print

जीएसटी में सर्वे तो सामान्य रूप से होते ही है और इसके लिए जीएसटी कानून में व्यवस्था की गई है . इन दिनों तो जीएसटी सर्वे हर जगह हो रहें हैं . यहाँ मैंने एक जीएसटी सर्वे की सजीव कल्पना की है . जिसका आप आपकी एसोसिएशन उसके सदस्यों की मदद से मंच पर प्रस्तुत कर प्रोफेशनल्स एवं करदाताओं को जीएसटी सर्वे के तहत आने वाली स्तिथियों को समझा सकते हैं ताकि सर्वे जो कि एक सामान्य विभागीय प्रक्रिया है, का बिना भय और तनाव के सामना कर सके.

Introduction to Pillar one Amount B in OECD

March 3, 2024 1362 Views 0 comment Print

Discover how the OECD’s introduction of Pillar One Amount B in 2024 streamlines transfer pricing for marketing and distribution, enhancing fairness and compliance for multinational enterprises.

Case Note on Securities and Exchange Board of India vs. Abhijit Rajan

March 3, 2024 3273 Views 0 comment Print

Supreme Court ruling in a significant insider trading case underscores the necessity of a profit motive for an insider trading charge. The case involved Mr. Rajan, former Chairman of Gammon Infrastructure Projects Limited (GIPL), who sold shares before disclosing contract termination information.

No Penalty for Non-Generation of E-Invoice if Turnover Mistakenly Reported Over 5cr & Corrected in GSTR-9

March 3, 2024 5886 Views 1 comment Print

Madras High Court quashes penalty for non-generation of e-invoice when turnover was rectified below 5cr in GSTR-9. Learn the implications of this judgment.

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