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Archive: May, 2024

Posts in May, 2024

SC Upholds Taxability of Interest-Free Loans to Bank Employees

May 9, 2024 2466 Views 1 comment Print

Explore the Supreme Court’s decision upholding the taxation of interest-free/concessional loans to bank employees as perquisites under Rule 3(7)(i) of the Income Tax Rules.

Accountant Misses GST Notices: Madras HC Allows Contest on 10% Pre-deposit

May 9, 2024 804 Views 0 comment Print

Raj Rekha challenges an order due to accountant’s oversight of GST notices. Madras HC permits contest with 10% pre-deposit. Analysis of the case.

Non-Response to SCN: Madras HC Allows Contesting GST Liability

May 9, 2024 582 Views 0 comment Print

Tvl. Jones Enterprises challenges tax liability for non-response to show cause notices. Madras HC permits contest with 10% pre-deposit. Detailed analysis.

HC Directs GST Appellate Authority to Process Appeal Without Considering Limitation

May 9, 2024 765 Views 0 comment Print

Madras High Court directs to condone 21 days’ delay in GST appeal, citing lack of satisfaction of Section 74. Full judgment analysis included.

Income Tax Dept. must permit personal hearing through NFAC upon assessee’s request

May 9, 2024 1593 Views 0 comment Print

Delhi High Court ruling states Income Tax Dept. must permit personal hearing through National Faceless Assessment Centre upon assessee’s request. Full text judgment provided.

Section 44BB does not override provisions related to PE or DTAA benefits

May 9, 2024 309 Views 0 comment Print

Read the detailed analysis of Computer Modelling Group Ltd. vs. ACIT (ITAT Delhi) regarding interest leviable from the assessee for short payment of tax due to payer’s TDS default before FY 2012-2013.

No PMLA Proceedings After Predicate Offence Acquittal: Delhi HC

May 9, 2024 666 Views 0 comment Print

Read the detailed analysis of Delhi High Court’s judgment upholding the release of attached properties after acquittal in the predicate offence. Full text included.

Understanding External Commercial Borrowings (ECB) Regulations

May 9, 2024 2403 Views 0 comment Print

Understand the intricacies of External Commercial Borrowings (ECB) – concept, modes, compliance, and steps. Explore criteria, restrictions, and filing procedures for successful ECB procurement.

Navigating journey through SME IPO

May 9, 2024 558 Views 0 comment Print

Embark on the journey of SME IPOs with expert insights. Learn about planning, preparation, and execution, ensuring compliance and leveraging market optimism for success.

Tax Implications on Slump Sale

May 9, 2024 1488 Views 0 comment Print

Learn about tax implications on slump sales under Section 50B of the Income-tax Act. Understand computation, rates, and GST implications. Ensure comprehensive business succession planning.

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