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Archive: 13 July 2024

Posts in 13 July 2024

Simply having a different opinion from AO not justify invocation of Section 263

July 13, 2024 882 Views 0 comment Print

Detailed analysis of the ITAT Kolkata ruling on Shringar Marketing Pvt. Ltd. Vs PCIT, highlighting key arguments, legal precedents, and the final judgment.

No Penal Interest for Non-Filing of Returns without Statutory Provision: SC

July 13, 2024 969 Views 0 comment Print

Supreme Court verdict on Maruti Wire INDS. Pvt. Ltd. vs S.T.O. examines penal interest under Kerala General Sales Tax Act, 1963. Learn about the judgment’s implications.

No interest on duty assessed if no duty was payable at clearance: SC

July 13, 2024 432 Views 0 comment Print

Supreme Court’s judgment in Pratibha Processors vs Union of India clarifies the interpretation of Section 61(2) of the Customs Act regarding interest on duty.

Interest on of arrears of Sugar cess is compensatory in nature & allowable: SC

July 13, 2024 429 Views 0 comment Print

Understand the Supreme Court ruling on whether interest paid under the U.P. Sugarcane Cess Act, 1956 qualifies as a deduction under the Indian Income Tax Act. Read the detailed analysis now.

Married Policeman’s Live-In Relationship Violates Service Rules: Jharkhand HC

July 13, 2024 750 Views 0 comment Print

Jharkhand High Court upholds dismissal of a police constable for maintaining a live-in relationship, ruling it a violation of service rules despite acquittal in a related criminal case.

Calcutta HC Quashes Demand Notice Contrary to Assessment Order

July 13, 2024 732 Views 1 comment Print

Explore the Calcutta High Court judgment quashing an income tax demand notice issued contrary to an assessment order for the assessment year 2015-16. Understand the impact on taxpayers rights and legal compliance.

Assessee entitled to personal hearing opportunity after passing of Order when amount of tax payable has been appropriated

July 13, 2024 762 Views 0 comment Print

Explore the Madras High Court judgment in Amarjyothi Carrying Corporation v. Assistant Commissioner (ST) on entitlement to personal hearing post assessment order. Learn about the impact on GST returns and taxpayer rights.

Notifications & Circulars – In light of 53rd GST Council Meeting Recommendations

July 13, 2024 6048 Views 0 comment Print

Explore the key updates and amendments in GST notifications and circulars issued based on the 53rd GST Council Meeting recommendations. Stay compliant with the latest GST rules.

Exposure Draft: Audit Quality Maturity Model (AQMM) version 2.0

July 13, 2024 627 Views 0 comment Print

Explore the Audit Quality Maturity Model (AQMM) v2.0 by ICAI. Review proposed changes, submit feedback, and shape the future of audit standards. Deadline: August 2, 2024.

ICAI Letter to CBDT on Technical Glitches in Income Tax Filing Portal

July 13, 2024 3375 Views 0 comment Print

Read ICAI’s concerns about technical glitches in tax filing and payment systems. Understand the impact on taxpayers and solutions proposed.

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