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Archive: 13 June 2024

Posts in 13 June 2024

GST Demand: HC directs officer to re-adjudicate & pass a fresh speaking order

June 13, 2024 513 Views 0 comment Print

Delhi High Court quashes demand in Sethia Enterprises vs Commissioner GST case, citing lack of consideration for petitioner’s detailed reply. Read the full judgment.

Audit objections alone do not fulfill criteria for reopening assessments: Delhi HC

June 13, 2024 1890 Views 0 comment Print

Delhi High Court invalidates reassessment proceedings against Samsung India for AY 2002-03, ruling lack of fresh tangible material after 4 years.

Delhi HC modifies GST Registration cancellation date to Order Issuance Date

June 13, 2024 948 Views 0 comment Print

Read the detailed analysis of S S Enterprises vs Commissioner Of Delhi Goods And Service Tax & Anr. Delhi High Court sets aside retrospective cancellation of GST registration. Full text of the judgment included.

Undue benefits under DEPB Scheme: CESTAT reduces penalty on CHA

June 13, 2024 399 Views 0 comment Print

Read the detailed analysis of the CESTAT Bangalore order reducing penalty to 5L in the case of confiscation of goods attempted to be improperly exported under section 113 FERA.

Bonus Shares Have Nil Acquisition Cost for Capital Gains Calculation: ITAT Bangalore

June 13, 2024 2349 Views 0 comment Print

ITAT Bangalore dismisses valuation of bonus shares under Income Tax Act sec. 55(2)(aa)B. Detailed analysis of Zash Traders vs ACIT case. Read full order.

CCDs cannot be treated as financial debt under IBC: NCLAT Chennai

June 13, 2024 1683 Views 0 comment Print

The NCLAT Chennai ruled that Compulsory Convertible Debentures (CCD) without repayment obligations are considered financial debt under IBC. Learn more about the judgment.

Temporary donations to other charitable entities did not violate spirit of Section 11

June 13, 2024 924 Views 0 comment Print

Delhi High Court allows exemptions on temporary donations by one charitable trust to another. Understand the implications and full judgment of this landmark case.

Strategic Insights: Decreasing Fair Market Value (FMV) of Shares

June 13, 2024 1479 Views 0 comment Print

Explore strategic insights on why businesses lower the Fair Market Value (FMV) of shares, including tax benefits, attractive valuations, and acquisition opportunities.

Delhi HC Directs Appearance for GST Registration Cancellation Application

June 13, 2024 363 Views 0 comment Print

Delhi High Court directs a petitioner to appear before the Proper Officer for GST registration cancellation due to failure in responding to queries and absence of a personal hearing intimation.

Cash deposit in Joint account with other relatives: ITAT deletes addition

June 13, 2024 1737 Views 0 comment Print

ITAT Ahmedabad rules no tax on cash deposits from relatives if affidavits provided. Sakina Ahmedali Kantavala vs ITO case highlights proper affidavit usage in tax assessments.

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