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Archive: 04 April 2024

Posts in 04 April 2024

Bank Account Freeze due to Company Strike Off – How to get lifted?

April 4, 2024 5007 Views 1 comment Print

Discover how to lift a bank account freeze due to company strike off. Learn the steps under Companies Act, 2013, to restore your business operations and avoid penalties.

Common Mistakes to Avoid When Filing Your Income Tax Return (ITR)

April 4, 2024 2571 Views 0 comment Print

Learn common mistakes in Income Tax Return (ITR) filing: Incorrect forms, missing income, late filing. Avoid penalties and ensure accurate tax compliance.

No section 68 addition based on turnover declared under section 44AD

April 4, 2024 11298 Views 0 comment Print

ITAT Mumbai rules no addition under section 68 based on turnover declared under section 44 AD of Income Tax Act for Kalpesh Kantilal Gada. Detailed analysis and order explained.

Assessee Granted Opportunity due to Dislocation of business: ITAT restores case to CIT(A)

April 4, 2024 399 Views 0 comment Print

Read about Rajesh Laxmikanth Varnerkar Vs ITO (ITAT Bangalore) case where the assessee couldn’t reach the tax consultant due to business dislocation, leading to a remand order under section 250 of the Income Tax Act.

Demonetisation Cash Deposits: Assessee Bears Burden to Prove Genuineness

April 4, 2024 2052 Views 0 comment Print

Read the full text of the ITAT Bangalore order on Aijaz Ahmed Suri Vs ITO regarding demonetization deposits. Analysis and conclusion included.

Section 68 addition invalid if creditworthiness proven: ITAT Delhi

April 4, 2024 1230 Views 0 comment Print

In the ITAT Delhi case I.T.O Vs Placid Buildwell Pvt Ltd, the addition u/s 68 was deemed invalid as creditworthiness was proven. Detailed analysis here.

Writ against order passed by assessing authority of Tamilnadu cannot be filed in Kerala

April 4, 2024 684 Views 0 comment Print

Read the detailed analysis of Kerala High Court’s dismissal of Writ Appeal by Manaf Alihassan against orders of Tamil Nadu Assessing Authority due to lack of territorial jurisdiction.

Subordinate Authorities Must Unreservedly Follow Orders of Highest Appellate Authorities

April 4, 2024 1665 Views 0 comment Print

Bombay High Court ruling emphasizes revenue officers’ obligation to adhere to appellate decisions in quasi-judicial matters, ensuring fair tax administration.

Developer engaged in “development” of new infrastructural facility eligible for Section 80 IA(4) deduction

April 4, 2024 552 Views 0 comment Print

Understand Section 80-IA(4) deductions: N.C.C. – M.S.K.E.L (J.V.) Vs Income Tax Officer (ITAT Ahmedabad) clarifies eligibility for developers.

No service Tax on Bowling Alley Income of Smaaash: CESTAT Delhi

April 4, 2024 717 Views 0 comment Print

Smaaash Leisure Limited wins against Commissioner of CGST. CESTAT Delhi rules bowling alley income exempt from service tax. Details of the case explained.

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