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Archive: 19 March 2024

Posts in 19 March 2024

Instructions to AO’s for initiating section 147 proceedings in I.T. e-Verification cases

March 19, 2024 8337 Views 0 comment Print

Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Officers provided.

ICAI announces revised schedule of CA Examinations, May 2024

March 19, 2024 16104 Views 0 comment Print

Stay informed about the rescheduled Chartered Accountant Examinations for May 2024. Check out the new dates and important details. Stay updated with ICAI.org

Things To Do Under GST For Year End and New Financial Year

March 19, 2024 12153 Views 0 comment Print

If the Registered person / eligible taxpayer wishes to opt for Composition Scheme under GST, then it can be done online in common portal by filing Form CMP-02 before 31st March of the financial year.

Registration of Section 8 Company in India

March 19, 2024 1128 Views 0 comment Print

Learn about the registration process, pros, and cons of Section 8 Companies in India, along with statutory obligations, forms, and penalties for non-compliance.

ITAT allows refund of Excess Appeal Fees & deletes penalty on estimated addition

March 19, 2024 405 Views 0 comment Print

Discover ITAT Mumbais decision in S Sagar Enterprise vs DCIT, allowing refund of excess appeal fees and deletion of penalty under section 271(1)(c) of the Income Tax Act.

ITAT deletes LTCG Addition from Penny stock for Lack of Concrete Evidence

March 19, 2024 1041 Views 0 comment Print

Chirag Tejprakash Dangi successfully challenged the Income Tax Office’s (ITO) addition of Rs. 1.51 crore related to sale of alleged penny stocks. Learn why the assessee prevailed.

HC upholds ITAT decision deleting addition of LTCG on penny stock

March 19, 2024 693 Views 0 comment Print

Bombay High Court affirms ITAT’s deletion of LTCG addition on penny stock in PCIT Vs Ziauddin A Siddique case. Detailed analysis of the judgment provided.

Payment Gateway not liable under PMLA, 2002 for mere negligence without intent

March 19, 2024 258 Views 0 comment Print

Explore the legal battle between Razorpay Software Pvt. Ltd. and the Union of India, as Karnataka High Court examines the impugned proceedings under PMLA Act.

ITAT Criticizes AO for Hasty 200% Penalty Imposition without application of Mind

March 19, 2024 501 Views 0 comment Print

Analysis of ITAT Pune’s criticism of the Assessing Officer’s hasty penalty imposition at a 200% rate without proper application of mind in the Adinath Vasantrao Wandhekar case

Significant differences in product segments & marketing strategies: ITAT excludes comparable

March 19, 2024 171 Views 0 comment Print

Delhi High Court rules in favor of Oriflame India Pvt Ltd, withdrawing TPO’s proposed income adjustments, applies TNMM over RPM. Details of the case analysis here.

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