Explore how the Supreme Court’s ruling reinforces strict adherence to refund timelines under the Delhi Value Added Tax Act in the case of Commissioner vs FEMC Pratibha JV.
Orissa High Court quashes reassessment order, ruling it cannot be based merely on tax evasion or audit reports, stressing the need for independent assessment.
ITAT observed that the disallowance of expenses by the AO was on an estimate and ad hoc basis due to the absence of supporting evidence, rather than evidence of concealment of income. Referring to legal precedents, the ITAT emphasized that disallowance based on the magnitude of expenses or missing vouchers is insufficient to justify a penalty, especially without evidence of mala fide intent.
Delve into the disciplinary action against CA Sushil Suresh Bajaj by the Institute of Chartered Accountants of India. Analysis, verdict, and implications discussed.
Subam Benefit Fund Nidhi Ltd fined ₹3.5 lakh for failing to maintain member registers as per Section 88 of the Companies Act, 2013.
ITAT Mumbai rules penalty under Section 270A deleted as I-T authority failed to consider reasons for difference in sale consideration and stamp duty valuation.
Subam Benefit Fund Nidhi Ltd faces penalties for non-compliance with Section 117 of the Companies Act, 2013, for FYs 2017-18 and 2018-19.
Committee concluded that there were indeed non-compliances in the financial statements audited by Pachkhede, relating to various accounting standards and reporting requirements. These errors were considered to constitute professional misconduct as per the Committee’s Findings dated February 7, 2024.
Delhi High Court directs reconsideration of refund application in Rahul Packaging Vs Union of India case. Find out how an incompetent authority issuing a Show Cause Notice impacted the judgment.
Delhi High Court quashes proceedings under Section 148 of the Income Tax Act initiated for reassessment in Akshita Jindal Vs ITO case. Detailed analysis and judgment.
