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Archive: 22 March 2024

Posts in 22 March 2024

ITAT deletes Section 68 addition of Advance received against Sale

March 22, 2024 1455 Views 0 comment Print

Read the detailed analysis of Hiral Exports vs ITO case where ITAT Mumbai deletes Rs.40,82,500 addition under section 68 of the Income Tax Act due to failure to rebut evidence.

Failure to File Balance Sheet: Penalties Imposed on Budhimai India Contractors

March 22, 2024 96 Views 0 comment Print

Read about the adjudication proceedings against Budhimai India Contractors by the Ministry of Corporate Affairs. Penalties imposed for Companies Act violations discussed here.

TDS/TCS Compliance in Government Transactions: A Case Study of Sections 194C and 206C(1H)

March 22, 2024 3117 Views 0 comment Print

Navigate tax complexities in transactions with government entities under Section 196 of the Income Tax Act. Explore tax deductions (Section 194C) & collections (Section 206C(1H)) with our case study.

SC Issues Guidelines To Courts For Protection Of Couples

March 22, 2024 585 Views 0 comment Print

Supreme Court issues progressive guidelines for courts dealing with couples seeking protection, emphasizing dignity and fundamental rights. Learn more about the landmark judgment here.

Rajasthan HC Grants Bail in Alleged ₹1046.74 Crore GST Evasion Case

March 22, 2024 801 Views 0 comment Print

Rajasthan High Court’s decision to grant bail to Rishabh Jain in a significant GST evasion case amounting to ₹1046.74 crores. Understand the legal arguments, precedents, and implications of the judgment.

HC Grants Bail in ₹21.16 Crore GST Scam with Fake Firms & Illicit ITC

March 22, 2024 537 Views 0 comment Print

Explore the Rajasthan High Court’s decision to grant bail in a ₹21.16 crore GST scam involving fake firms & illicit input tax credit (ITC). Understand the legal arguments, precedents, and implications of the judgment.

HC Quashes Reassessment Notice: Approval Granted Without Application of Mind

March 22, 2024 795 Views 0 comment Print

Delhi High Court judgment in Sanjay Kumar Vs ACIT reveals flaws in reassessment proceedings, jurisdictional issues, and errors in income tax notice.

Date of transfer of share is date of contract and not date of agreement: ITAT Mumbai

March 22, 2024 1488 Views 0 comment Print

ITAT Mumbai held that the date of the agreement by no stretch of imagination could be the date of sale of the shares by the assessee. As date of contract of sale would be date of fulfilment of conditions specified in share purchase agreement, date of contract will be treated as date of transfer.

Bail Granted in Case of Orchestrating Scheme to Evade GST with Fake Firms

March 22, 2024 393 Views 0 comment Print

Explore the detailed analysis of Nitin Vermas bail application against Union of India & Others. Learn about the allegations, evidence, and legal perspectives.

Rajasthan HC Grants Bail in Rs. 72 Crore Alleged Fake Invoicing Case

March 22, 2024 456 Views 0 comment Print

Detailed analysis of Rajasthan High Courts judgment in Lakshya Agarwals bail case involving Rs. 72 Crore Alleged Fake Invoicing Case

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