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Archive: 10 July 2024

Posts in 10 July 2024

Live Course on 360 degree Analysis of Input Tax Credit from a Litigation Perspective

July 14, 2024 1962 Views 0 comment Print

Join CA Sachin Jain for a live course on Input Tax Credit from a litigation perspective. Gain practical insights and master ITC complexities. Register now!

ITGOA Letter to CBDT Chairman on issuance of notices u/s 143(2)

July 10, 2024 6702 Views 0 comment Print

Read how Income Tax Gazetted Officers’ Association addresses last-minute case reallocations affecting timely issuance of notices. Insights into systemic challenges and proposed solutions.

ICAI can Proceed Against whole Firm if One Member cannot be held Responsible: HC

July 10, 2024 3918 Views 0 comment Print

Delhi High Court rules that ICAI can hold entire CA firms accountable for misconduct, even if individual guilt isn’t found. Full judgment on Harinderjit Singh case.

GST On Extra Neutral Alcohol (ENA)

July 10, 2024 498 Views 0 comment Print

GST Council excludes Extra Neutral Alcohol (ENA) from GST, providing significant relief to the alco-beverage industry. Learn about the impact and details of this decision.

Clarifying Compliance: Challenges & Solutions in GST Input Tax Credit Reversal

July 10, 2024 1644 Views 0 comment Print

Explore challenges and solutions in GST Input Tax Credit reversal compliance, focusing on the intricacies of Section 15(3)(b)(ii) of the CGST Act and recent circulars.

Inverted Duty Structure and refund of ITC

July 10, 2024 1017 Views 0 comment Print

Understand the Inverted Duty Structure in GST and how to claim refunds on unutilized Input Tax Credit (ITC). Explore detailed insights and procedures for businesses in India.

Section 56(2)(vii) inapplicable to non-residents: ITAT Delhi

July 10, 2024 3924 Views 2 comments Print

ITAT Delhi rules Section 56(2)(vii) inapplicable to non-residents, deleting Rs. 9.31 Cr addition for APL Logistics Vascor Automotive Pvt. Ltd. Read full order and analysis.

Mere Use of term ‘Fraud’ or ‘Willful Mis-statement’ doesn’t Justify Penalties

July 10, 2024 672 Views 0 comment Print

Calcutta High Court in Paritosh Ghosh Construction Pvt. Ltd. held that Mere use of the terms fraud and willful mis-statement does not automatically trigger penalties. The adjudicating authority must establish facts related to fraud or willful mis-statements.

SC Rules Against Bail Condition allowing Constant Police Tracking of Accused

July 10, 2024 282 Views 0 comment Print

Supreme Court rules that bail conditions cant mandate police to track accused’s movements, upholding the right to privacy under Article 21.

Section 12AA(3) registration cannot be cancelled without any valid ground: Calcutta HC

July 10, 2024 540 Views 0 comment Print

Read the full judgment of Calcutta High Court dismissing IT Depts appeal against Gobind Ram Goel Charitable Trust’s 12AA(3) registration cancellation. Detailed analysis included.

Revenue Cannot Use Reassessment Powers as a Review Mechanism

July 10, 2024 978 Views 0 comment Print

It is trite that under guise of power vested in Revenue to reassess an income which had escaped assessment upon production of fresh tangible material, it cannot be allowed to exercise power of review.

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