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Archive: 21 March 2024

Posts in 21 March 2024

Absence of thorough verification of origin of cash funds: ITAT directs re-adjudication

March 21, 2024 492 Views 0 comment Print

Explore the case of Shantabai Jasraj Lodha challenging additions made by CIT(A) – NFAC regarding a Rs.20 lakhs deposit during demonetization. Analysis reveals discrepancies and remand for further verification.

Management Service Fees paid to non-resident AEs is Deductible Expenses

March 21, 2024 639 Views 0 comment Print

Explore the ITAT Delhi ruling on the eligibility of management service fees paid to non-resident AEs under section 37(1) of the Income Tax Act in the case of Iris Worldwide Integrated Marketing Pvt. Ltd vs. DCIT.

Section 14A Disallowance cannot exceed Exempted Income: ITAT Bangalore

March 21, 2024 474 Views 0 comment Print

Read the full text of the order of ITAT Bangalore in Ambika Ghorpade Vs ACIT case, discussing disallowance u/s 14A of Income Tax Act and expenses under section 37(1).

GST on Corporate Guarantees: A Comprehensive Guide

March 21, 2024 10992 Views 2 comments Print

Explore the comprehensive guide on GST implications for corporate guarantees in India, including taxability, valuation methods, exemptions, and recent amendments.

Beyond Numbers: How CA Firms Shape Finance Professionals

March 21, 2024 2874 Views 0 comment Print

Explore how CA firms contribute to shaping finance professionals beyond numbers, their influence on startups, and the importance of upskilling in the evolving finance world.

Section 43B(h) – A technical guide to decode the new clause

March 21, 2024 6537 Views 0 comment Print

Explore the implications of Section 43B(h) of the Income Tax Act 1961, applicable from FY 2023-24. Learn about its applicability, time limits, reporting requirements, penalties, and benefits.

Employees Provident Fund (EPF) Withdrawal Challenges and Way Out

March 21, 2024 1218 Views 0 comment Print

Learn how to withdraw from Employees Provident Fund (EPF) in India. Understand the process, common difficulties, and steps to accelerate fund crediting. Expert advice included.

Show Cause Notice Under GST Regime- A Comprehensive Analysis

March 21, 2024 5898 Views 0 comment Print

Explore the comprehensive analysis of show cause notices under the Goods and Service Tax regime, including issuance, implications, and how to respond effectively. Learn the procedure and legal framework.

Section 263 cannot be invoked if here is no prejudice against revenue

March 21, 2024 597 Views 0 comment Print

Ahmedabad ITAT quashes Sec 263 order in Soham Buildcon vs PCIT-3 case, citing absence of twin conditions for exercising power under the provision. Full text analysis provided.

Kerala HC stays Income Tax Recovery till disposal of Stay Petition

March 21, 2024 405 Views 0 comment Print

Kerala HC directs Income Tax Department to halt recovery proceedings until disposal of stay petition in Koothery Narayanan Vijayan’s case against assessment order.

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