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Archive: May, 2024

Posts in May, 2024

Ex-Parte Orders Without Considering Taxpayer’s Reply Liable for Set-Aside: Delhi HC

May 31, 2024 855 Views 0 comment Print

Delhi High Court sets aside an ex-parte order, emphasizing the importance of considering taxpayer replies in GST proceedings.

GST on Sale of Second-hand Goods

May 31, 2024 16803 Views 3 comments Print

Learn the tax impact of selling second-hand goods. Understand GST implications & margin schemes. Clear the confusion & avoid litigation.

Simplifying Residential Status Concept in India

May 31, 2024 1299 Views 0 comment Print

Gain insights into India’s residential status rules under Section 6 of the Income Tax Act, simplifying complexities for individuals and entities.

Non-disclosure of Exempt LTCG Doesn’t Cause Revenue Loss: Invalidates Section 263 Proceedings

May 31, 2024 525 Views 0 comment Print

In Karan Jain vs. Union of India, Guwahati High Court rules that non-disclosure of exempt LTCG does not result in revenue loss. Detailed analysis and conclusion provided.

MCA Imposes Rs. 3 Lakh Penalty for delay in Form DIR-12 Filing

May 31, 2024 720 Views 0 comment Print

Learn about MCAs penalty on Motia Sons Pvt Ltd for violating Companies Act, delaying Form DIR-12 filing, with detailed analysis and implications. Understand the adjudication process.

Condonation application cannot be rejected straightway in a cryptic, confused & absurd manner

May 31, 2024 414 Views 0 comment Print

Orissa High Court remits income tax matter back to PCIT after rejecting delay condonation applications in a cryptic manner. Detailed analysis of the case provided.

वस्तु एंड सेवा कर का राजनैतिक सफर और आजादी के बाद का सबसे बडे टैक्स सुधार की जरुरत

May 31, 2024 309 Views 0 comment Print

वस्तु एंड सेवा कर जिसकी अवधारणा की नीव सबसे पहले सन २००० में अटल बिहारी सरकार के दौरान पड़ी। जब अटल जी ने चर्चा के बाद एक समिति  बनाई जिसका अध्यक्ष पश्चिम बंगाल के वित्त मंत्री असीम दासगुप्ता को नियुक्त किया गया। समिति का मुख्य उद्देश्य जीएसटी के कार्यान्वयन के लिए रोडमैप तैयार करना था। […]

Share Transfer Vs Share Transmission

May 31, 2024 780 Views 0 comment Print

Discover the distinctions between Share Transfer & Share Transmission. Explore legal requirements, key differences, and implications for non-compliance in this comprehensive guide.

Indian Women Traditionally Keep Jewelry at Maternal Home for Various Reasons: ITAT Delhi deletes addition

May 31, 2024 576 Views 0 comment Print

ITAT held that Indian Women Traditionally Keep Jewelry at Maternal Home for Various Reasons and CBDT instruction, where the status of the family and customs and practices of the community to which family belongs, permit an assessee to hold larger quantity of jewellery and ornaments out of the purview of seizure.

ITAT Bangalore: Tax Cash Deposit from Store Business at 8%

May 31, 2024 384 Views 0 comment Print

Read the detailed analysis of Smt. Kopparum Laxminarayan Kumuda vs ITO case by ITAT Bangalore. Learn why cash deposits were taxed at 8%.

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