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Archive: 30 May 2024

Posts in 30 May 2024

Insolvency Dilemmas: NCLAT’s Verdict on Section 185 Compliance in CIRP Claims

May 30, 2024 1206 Views 0 comment Print

Explore the AVJ Heights vs. India Infoline case, NCLAT’s stance on Section 185 compliance in CIRP claims, implications for financial institutions, and legal analysis.

Delhi HC Bars Unauthorized Use of Jackie Shroff’s Name and Voice

May 30, 2024 825 Views 0 comment Print

Delhi High Court grants Jackie Shroff legal protection, prohibiting unauthorized use of his name and voice, safeguarding his personality and publicity rights.

57 Incomes and Expenses which will be included in Annual Information Statement

May 30, 2024 15159 Views 0 comment Print

CBDT has notified 57 types of incomes and expenses included in the Annual Information Statement (AIS) on the Income Tax portal, aiding accurate tax filing and compliance.

After TPO’s Order, AO Obligated to Follow Section 92CA(4) for Assessment

May 30, 2024 3231 Views 0 comment Print

The Delhi High Court ruled that once a TPO issues an order, the AO must pass an assessment order per Section 92CA(4) of the Income Tax Act.

Assessment order passed in the name of a deceased individual is invalid: ITAT Jaipur

May 30, 2024 2676 Views 0 comment Print

ITAT Jaipur directs AO to quash Assessment Order under section 143(3) of Income Tax Act as notice to deceased assessee is deemed invalid. Detailed analysis and case precedents provided.

In absence of specific provisions Interest & penalty on CVD cannot be demanded

May 30, 2024 1311 Views 0 comment Print

Interest and penalty in relation to CVD cannot be demanded in the absence of specific provisions for levy of interest, penalty in the Customs Tariff Act, 1975.

Section 40(a)(i) not applicable if TDS is deducted & paid within prescribed time

May 30, 2024 3459 Views 0 comment Print

The ITAT Delhi deletes Rs. 1.83 crore addition in the case of Ayesa Ingenieria Y Arquitectura, confirming TDS on expat salaries was duly deposited.

Accumulated Cenvat Credit refund valid for goods exported without a bond

May 30, 2024 666 Views 0 comment Print

In Kancor Ingredients Ltd vs Commissioner (CESTAT Allahabad), the court rules that accumulated Cenvat Credit refund is valid for goods exported without a bond.

ITAT upholds deletion of addition towards stale draft account

May 30, 2024 795 Views 0 comment Print

In the case of Karur Vysya Bank Ltd. vs. DCIT, ITAT Chennai rejects AO’s disallowance of stale drafts, citing precedent and banking business nature.

ITAT Delhi Upholds Bonafide of Cash Sales During Demonetisation

May 30, 2024 3966 Views 0 comment Print

ITAT Delhi confirms ACIT vs. Delhi Spot Bullion Trading Co. cash sales during demonetisation were legitimate, dismissing Revenue’s appeal.

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