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Archive: 27 June 2024

Posts in 27 June 2024

Common Directors/Shareholders, Identity, Creditworthiness Proved: ITAT deletes Section 68 Addition 

June 27, 2024 276 Views 0 comment Print

Explore the full text and detailed analysis of Shah Tracom Pvt. Ltd. Vs ITO case from ITAT Kolkata. Understand the implications, legal arguments, and outcomes in tax assessment disputes.

Fresh opportunity be granted for personal hearing when SCN was inadvertently sent to old address of Assessee

June 27, 2024 384 Views 0 comment Print

Read the detailed analysis of Madras High Courts decision granting a fresh hearing when a GST Show Cause Notice was sent to the wrong address in C. Ekambarams case.

No Addition for Share Capital & Premium from Group Companies with Common Directors/Shareholders

June 27, 2024 345 Views 0 comment Print

Explore ITAT Kolkata’s ruling on no addition for share capital & premium from group companies with common directors/shareholders. Detailed analysis & conclusion

Mere suspicion on the part of AO is insufficient to justify Section 68 additions

June 27, 2024 270 Views 0 comment Print

ITAT Kolkata’s order in ITO Vs Indus Realty Pvt. Limited – Mere suspicion or disbelief on the part of Assessing Officer is insufficient to justify additions under Section 68. The identity, creditworthiness, and genuineness of transactions must be thoroughly evaluated and substantiated with concrete evidence.

जीएसटी परिषद की 53 सी मीटिंग के प्रस्ताव और विश्लेषण

June 27, 2024 1110 Views 0 comment Print

जीएसटी परिषद की 53वीं बैठक में करदाताओं के लिए जीएसटी रिटर्न में बदलाव और नई नीतियों पर चर्चा। जानें प्रमुख प्रस्ताव और उनका विश्लेषण

Addition cannot be made of share capital received from group companies

June 27, 2024 354 Views 0 comment Print

Explore the detailed analysis of the ITO vs. RKB Services Pvt. Ltd. case by ITAT Kolkata. Learn about the implications for share capital additions under Section 68 of the Income Tax Act.

No section 68 addition based on mere retracted statements without corroborative evidence  

June 27, 2024 375 Views 0 comment Print

Mere reliance on statements without corroborative evidence and denying cross-examination rights cannot justify additions for share capital and share premium under Section 68

OTC Derivatives on Gold & Silver: Amendment to IFSCA Banking Handbook Module 13

June 27, 2024 534 Views 0 comment Print

Explore the latest IFSCA update permitting IBUs to offer OTC derivatives on Gold and Silver. Understand the changes, implications, and compliance requirements in the updated OTDE Module.

SEBI Master Circular for Mutual Funds

June 27, 2024 1830 Views 0 comment Print

Explore SEBIs latest Master Circular for Mutual Funds 2024, detailing regulatory guidelines and compliance requirements for stakeholders in the financial sector.

SEBI approved norms to regulate misinformation through finfluencers

June 27, 2024 285 Views 0 comment Print

Proposal on association of persons regulated by the SEBI and the agents of such persons with persons who directly or indirectly provide advice or recommendations without being registered with SEBI or make any implicit or explicit claim of return or performance in respect of or related to a security or securities under the purview of SEBI. 

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