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Archive: 05 May 2024

Posts in 05 May 2024

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6345 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Live Course on How to Reply to GST Notices & SCN & to Fake ITC Notices? – Last day to Register

May 15, 2024 19359 Views 0 comment Print

Join our live course to learn expert strategies for replying to GST notices, SCNs, and fake ITC notices. Understand litigation nuances, evidence insights, and practical tips for effective responses. Register now!

Post-filing Corrections to Form 35A cannot be treated as filed beyond time limit

May 5, 2024 303 Views 0 comment Print

ITAT found that the original Form 35A was filed within the stipulated time and ruled that the correction made thereafter should not be considered late.

Assessment Based on Mere Unverified Third Party Statement Bad in Law: ITAT Mumbai

May 5, 2024 3441 Views 0 comment Print

Analysis of Kundal Raghubir Bhandari Vs ITO (ITAT Mumbai) case reveals flaws in assessment based on unverified third-party statements. Learn more about this significant legal ruling.

Kerala HC Directs on Nidhi Companies: Operations Shouldn’t Become Impossible

May 5, 2024 237 Views 0 comment Print

Kerala High Court issues directions on Nidhi Companies’ status, highlighting concerns over recent amendments, financial regulations, and operational challenges. Read the detailed analysis here.

Section 132(1) search authorization Warrant was qua ‘premises’ & not qua ‘assessee’

May 5, 2024 513 Views 0 comment Print

Search warrant is issued regarding premises and not necessarily regarding an assessee, and a common search warrant and panchnama issued against multiple assesses operating from the same premises are justifiable.

Assessment Reopening Limited to Four Years if there was Full Disclosure by Assessee

May 5, 2024 540 Views 0 comment Print

Mumbai ITAT rules in Lalita Troy Caeiro Vs ITO case that assessment can’t be reopened beyond 4 years if there’s full disclosure by assessee. Detailed analysis and conclusion provided.

Non-payment of tax before first appeal filing not fatal if appellant fulfills tax obligation later

May 5, 2024 438 Views 0 comment Print

in terms of section 249(4)(a) of the Act, stipulation as to payment of tax ante filing of first appeal is only directory and not mandatory, where appeal is filed without payment of tax but subsequently required amount of tax is paid, appeal shall be admitted on making payment of tax and taken up for hearing on merits.

STCL Taxable at 15% Can be set-ff against STCG Taxable at 30%: ITAT Mumbai

May 5, 2024 651 Views 0 comment Print

Explore the detailed analysis of JS Capital LLC Vs ACIT (ITAT Mumbai) regarding the offsetting of Short Term Capital Loss (STCL) against Short Term Capital Gain (STCG) under section 70(2) of the Income Tax Act.

ITAT Deletes Section 56(2)(x)(b)(B) Additions: Consideration Paid via Banking Channels

May 5, 2024 7962 Views 0 comment Print

Appellant’s bank statements confirm full payment, complying with Section 56(2)(x)(b)(B). ITAT deletes addition of Rs. 60.1 Lakhs. Detailed analysis & conclusion.

MCA Imposes Penalty for Failure to Maintain Charge Details in Register

May 5, 2024 1386 Views 0 comment Print

Learn how HOLITECH India failed to maintain charge details, leading to penalties by MCA. Understand legal implications, consequences, and appeal procedures.

Source of Demonetization Deposits Substantiated: ITAT Deletes Addition

May 5, 2024 405 Views 0 comment Print

In the case of Pukhraj Nathmal Jain Vs ITO, ITAT Mumbai deletes addition u/s 68 of Income Tax Act, as the source for deposits made during demonetisation period was substantiated.

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