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Archive: 12 May 2024

Posts in 12 May 2024

ITAT Allows Premium for hedging foreign exchange fluctuation on FCNRB loan interest

May 12, 2024 756 Views 0 comment Print

Detailed analysis of ITAT Kolkata’s ruling in La Opala RG Ltd. vs DCIT, covering disallowance of forward contract loss and foreign exchange loss, with expert commentary.

Delhi HC Sets Aside GST Demand Order for officer’s failure to consider taxpayer’s reply

May 12, 2024 984 Views 0 comment Print

Delhi HC overturned a GST demand order due to officer’s failure to consider taxpayer’s detailed reply and remitted case for re-adjudication, granting petitioner an opportunity to provide further clarification.

Capital Gains from CCL International Shares is genuine: ITAT Delhi

May 12, 2024 1086 Views 0 comment Print

Read the detailed analysis of ITAT Delhi’s order regarding capital gains earned from the sale of CCL International shares. ITAT deemed the gains genuine, deleting the addition under section 69 of the Income Tax Act.

ITAT Upholds AO’s Decision to Treat Rental Income as House Property Income & Disallow Depreciation

May 12, 2024 1155 Views 0 comment Print

ITAT noted that company’s primary objective was providing IT services, not letting out properties. Therefore, it upheld Assessing Officer’s decision to treat rental income as income from house property and disallow depreciation claimed by company.

Section 159 of Finance Act 2023: Impact on Honest GST Taxpayers

May 12, 2024 3852 Views 2 comments Print

Explore the implications of Section 159 of the Finance Act 2023, analyzing its retrospective application and the challenges it poses for tax-compliant individuals.

All About Old & New Tax Regime FY 2023-24 (AY 2024-25)

May 12, 2024 32547 Views 0 comment Print

Dive into the differences between the old and new tax regimes for FY 2023-24 (AY 2024-25), exploring tax rates, deductions, exemptions, and how to choose the right regime for your financial situation.

Understanding Valuation: Regulatory Requirements & Challenges

May 12, 2024 15993 Views 0 comment Print

Delve into the intricacies of valuation in corporate decisions, exploring regulatory demands, multiple valuation reports, and forthcoming legislation.

Convergence of Competition & Consumer Protection Laws: National & International Perspectives

May 12, 2024 2856 Views 2 comments Print

The relationship between consumer protection and the Competition Commission of India is the main topic of this essay. It starts by examining ideal consumer behavior and market conditions in addition to the current situation.

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