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Archive: May, 2024

Posts in May, 2024

No Section 68 Addition for Explained Cash Deposits in Lender Bank Account

May 27, 2024 2343 Views 0 comment Print

Devki Nandan Maheshwari vs ACIT (ITAT Delhi) case: Exploring how cash deposits in lender’s bank account were accepted as explained sources, justifying an unsecured loan under Section 68 of Income Tax Act.

Orissa HC: Delay Condoned, GST Portal to Open for Return Filing

May 27, 2024 330 Views 0 comment Print

Bisan Singh vs Commissioner of CT and GST: Orissa HC allows filing of GST revocation application after condoning delay, mandates compliance with tax requirements.

Income Tax Order Invalid if SCN Lacks Response Time Limit & Shows Pre-determination

May 27, 2024 2301 Views 0 comment Print

Income Tax Assessment Order Invalid if SCN Lacked Time Limit for Response, Invalid Service of Assessment Order, & Order Suffers from Vice of Pre-Determination

Mismatch between GSTR 3B returns & auto populated 2A: HC directs re-adjudication

May 27, 2024 20601 Views 0 comment Print

Gauresh Industries vs Deputy State Tax Officer – I: Madras HC sets aside GST order, demands 10% remittance for contesting notice, ensures fair hearing.

NCLAT Affirms Ineligibility of Wilful Defaulter to Submit Resolution Plan

May 26, 2024 369 Views 0 comment Print

Read the detailed analysis of Namdev Hindurao Patil’s appeal against his ineligibility to submit a resolution plan for Warana Dairy. Learn how the NCLAT dismissed his plea.

Lease registration charges should be treated as revenue expenditure

May 26, 2024 498 Views 0 comment Print

Delhi High Court admits Department Appeal regarding CIT vs Benetton India Pvt. Ltd, focusing on double deductions for expat reimbursement and royalty. Get detailed analysis.

Demand for service tax based on a non-existing provision is not sustainable: CESTAT Allahabad

May 26, 2024 297 Views 0 comment Print

CESTAT Allahabad quashes service tax demand on Indus Valley Partners, ruling classification based on non-existing provision is bad in law.

Secured creditor cannot proceed under SARFAESI following adverse civil suit judgment

May 26, 2024 369 Views 0 comment Print

Kerala High Court rules that a secured creditor cannot proceed under SARFAESI Act if a civil suit for recovery has been dismissed on merits. Learn more about the case.

Delhi HC directs expedited processing of GST Registration Cancellation Application

May 26, 2024 138 Views 0 comment Print

Delhi High Court directs the processing of Shree Shakti Sales’ application for GST registration cancellation post business closure. Read the full judgment here.

Kerala High Court Directs Deferred Repayment Plan in Loan Recovery Case

May 26, 2024 159 Views 0 comment Print

Kerala High Court intervenes in coercive recovery proceedings against petitioners for financial advance default, granting time for repayment. Read the full judgment here.

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