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Archive: 14 March 2024

Posts in 14 March 2024

GST action points before end of FY 2023-24

March 14, 2024 17268 Views 0 comment Print

The last 6+ years have seen more than 1000 notifications, circulars, and instructions for taxpayers and adjudicating authorities, thus opening up the GST law to interpretation by taxpayers and authorities alike. This interpretation has given rise to the ever-increasing case laws across various judiciaries and writ petitions being filed before various High Courts of India […]

Advance tax e-campaign based on significant transactions

March 14, 2024 1668 Views 0 comment Print

Explore an e-campaign by the Income Tax Department on significant transactions and advance tax payments. Learn about advance tax, payment methods, and late payment interest.

Application under Section 12A: CoC’s Discretion to Evaluate Settlement Proposal

March 14, 2024 582 Views 0 comment Print

In Shaji Purushothaman vs. Union Bank of India, the CoC can evaluate an applicant’s settlement proposal under Section 12A against the approved resolution plan.

Whether Automation has helped either Income Tax Assessees or Department

March 14, 2024 4479 Views 2 comments Print

Explore the effects of automation on taxpayers and the Income Tax Department. Discover the challenges, benefits, and areas for improvement in this detailed analysis.

Representation to Resolve GST Section 16(4) Issues

March 14, 2024 13176 Views 1 comment Print

Former A.P. Minister & MP Mopidevi Venkata Ramana Rao urges Finance Minister Nirmala Sitaraman to consider amnesty for GST Sec 16(4) challenges faced by businesses.

Resolution applicant not allowed to withdraw/Alter Resolution Plan after approval by CoC

March 14, 2024 450 Views 0 comment Print

Learn about a case where a resolution plan approval by CoC binds stakeholders, rejecting an ex-promoter’s attempt to propose a settlement after approval.

CBI Arrests Inspector CGST While Accepting Bribe

March 14, 2024 1143 Views 0 comment Print

Read about the Central Bureau of Investigation’s arrest of a CGST Inspector for accepting a bribe of Rs. 5000 in Kanpur. Investigation ongoing.

NCLAT Sets Aside NCLT Order Allowing Suspended Director to Pursue Settlement Amid Plan Approval Proceedings

March 14, 2024 423 Views 0 comment Print

Read a detailed analysis of the NCLAT judgment in Nehru Place Hotels And Real Estates Private Limited Vs Sanjeev Mahajan. Learn about the resolution plan approval and settlement proposal rejection.

No Section 271FA penalty for delay in filing SFT return for genuine reasons

March 14, 2024 1188 Views 0 comment Print

Explore the detailed analysis of the penalty imposed on Jhalawar Kendriya Sahakari Bank Ltd. by ITAT Jaipur in the case against ADIT (I&CI) for the assessment year 2019-20.

Amount considered as undisclosed income cannot be considered  loan to attract provisions of section 271D 

March 14, 2024 1047 Views 0 comment Print

Explore the case of K.S. Chawla & Sons (HUF) Vs JCIT, where ITAT Delhi delves into penalty proceedings under section 271D of the Income-tax Act, 1961, with detailed analysis & conclusions.

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