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Archive: 14 June 2024

Posts in 14 June 2024

NPS/APY Functionalities released by CRAs during Quarter III & IV (FY 2023-­24)

June 14, 2024 708 Views 0 comment Print

Explore the latest updates from CRAs under PFRDA for NPS/APY functionalities in FY 2023-24. Learn about new features, benefits, and enhancements for stakeholders.

Income from E-Stamping Ineligible for Section 80P(2) Deduction

June 14, 2024 1551 Views 0 comment Print

Detailed analysis of Karnataka State Co-operative Agriculture and Rural Development Bank Ltd. vs. ITO case. Interest/Dividend income from co-operative society investments eligible for deduction u/s 80P(2) of the Income Tax Act.

Delhi HC Invalidates Reassessment Notice, Upholds Section 149(1)(b) Time Limits

June 14, 2024 3051 Views 0 comment Print

Delhi High Court rules that reassessment actions post-2021 searches must meet the First Proviso to Section 149(1) of the Income Tax Act, quashing Dinesh Jindal case notice.

Sale of penny stocks: High Court Affirms Section 263 Order

June 14, 2024 1212 Views 0 comment Print

Dive into the detailed analysis of the Calcutta High Court judgment in PCIT Vs Bina Gupta, addressing substantial questions of law regarding income tax implications on Long Term Capital Gain from penny stock sales.

GST registration cancellation: HC directs disposal of Show Cause Notice

June 14, 2024 489 Views 0 comment Print

Delhi HC directs adjudication of GST registration cancellation notice within 4 weeks in case of Tushar Anand Vs Avato Ward 63 State Goods And Service Tax

Tax Evasion Allegations: HC dismisses PIL as Income Tax Dept already Examined Transaction

June 14, 2024 624 Views 0 comment Print

Delhi High Court rejects a PIL filed by Ankur Gupta seeking a probe into alleged money laundering and tax evasion, citing previous dismissal and IT Department’s investigation.

GST Order Unsustainable if demand Exceeds amount Specified in SCN Without Justification

June 14, 2024 1044 Views 0 comment Print

Read the detailed analysis of Nanjappan Senthilkumar vs. Deputy Commercial Tax Officer case where Madras HC overturns a GST demand notice due to a Rs. 1.1L disparity.

Printers, Routers & Peripherals eligible for depreciation at Computer Rates

June 14, 2024 2022 Views 0 comment Print

Read about the ITAT Delhis ruling on the deduction dispute between Genpact India and DCIT regarding freight, telecommunication charges, and migration expenses under Section 10A/10AA of the Income Tax Act.

Penalty and Redemption Fine can be imposed Despite Re-Export Permission

June 14, 2024 2232 Views 0 comment Print

CESTAT Chennai rules: Redemption fine and penalty can be imposed on re-export of prohibited goods. Detailed analysis of the Scania Commercial Vehicles India Pvt Ltd case.

Are online subscription sales business or royalty income? ITAT directs re-adjudication

June 14, 2024 1128 Views 0 comment Print

Explore Gartner Ireland Ltd.’s appeal: Are online subscription sales business or royalty income? ITAT directs fresh assessment in Mumbai case

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