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Archive: 15 March 2024

Posts in 15 March 2024

Key Year end GST Activities

March 15, 2024 14037 Views 0 comment Print

Ensure a smooth transition to the new financial year by completing crucial GST tasks. Learn about reconciliations, ITC, RCM, refunds, and more in this detailed guide.

ITAT Orders Re-adjudication on Section 80P(2)(e) for Agricultural Loan Deductions

March 15, 2024 252 Views 0 comment Print

Read about the ITAT Bangalore’s order directing re-adjudication on the deduction under Section 80P(2)(e) for agricultural loans provided by Savanoor Primary Agricultural Co-operative Society Ltd.

Maharashtra State Tax on Professions, Trades, Callings and Employments (Amendment) Rules, 2024

March 15, 2024 1275 Views 0 comment Print

Get the latest update on the Maharashtra State Tax Amendment Rules 2024 issued by the Finance Department. Learn about the changes made to the Maharashtra State Tax on Professions, Trades, Callings, and Employments Act, 1975.

Lack of Legal Understanding & Consultant’s Technological Limitations: ITAT denied Condonation of delay

March 15, 2024 450 Views 0 comment Print

Read about the ITAT Mumbai ruling in Inderjit Singh Manchanda vs. CIT case, where the application for condonation of delay regarding penalty proceedings appeal was dismissed.

Personal hearing is mandatory before issuing Section 148A(d) orders: Kerala HC

March 15, 2024 1242 Views 0 comment Print

Kerala High Court affirms that personal hearing is mandatory before issuing orders under Section 148A(d) of the Income Tax Act.

LTCG Deemed Genuine: AO Fails to Prove Bogus Share Sale, Addition Deleted

March 15, 2024 681 Views 0 comment Print

Read about the ITAT Ahmedabad ruling in Bharatkumar Gangaram Patel vs. ITO case, where the addition for unexplained LTCG on shares was deleted due to failure to establish bogus sale.

Sales value cannot be enhanced with GST without Adjusting Opening/Closing Stock and Purchases Valuation

March 15, 2024 585 Views 0 comment Print

ITAT Mumbai concluded that the enhancement of the value of sales without corresponding adjustments to purchases was erroneous.

If Receipt Isn’t Taxable for Recipient, TDS Credit Can’t Be Denied: ITAT

March 15, 2024 540 Views 0 comment Print

Dhirajlal Savailal Shah Vs ITO (ITAT Ahmedabad) If the receipt is not liable to tax in the hands of the recipient for any reason, the same cannot be a ground for not granting credit for TDS.

Addition based on seized document retrieved from third person without cross examination opportunity is unsustainable

March 15, 2024 774 Views 0 comment Print

ITAT Delhi held that addition u/s. 69 of the Income Tax Act based on working/ seized document retrieved from third person without granting cross examination opportunity to the assessee is unsustainable in law.

Section 11 exemption cannot be denied for delay in Audit Report (Form 12B) submission

March 15, 2024 552 Views 0 comment Print

Learn about the ITAT Ahmedabad ruling in Karma Falya Trust vs. DCIT case, granting exemption under Section 11 of the Income Tax Act for delay in filing the audit report.

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