Explore the latest changes under Notification No. 18/2024-Central Excise by the Ministry of Finance, affecting excise duties effective from July 16, 2024.
Explore Customs Notification No. 49/2024-Customs (N.T.) issued by the Ministry of Finance, Department of Revenue. Detailed amendments in tariff values effective from July 16, 2024.
Explore India G20 Task Force report on Digital Public Infrastructure (DPI), defining global strategies for economic transformation and development, released by the Ministry of Finance.
Explore CBIC achievements, updates, and recent cases in the July 2024 newsletter from the Ministry of Finance, Department of Revenue. Read about GRAI ranking, DGGI facilities, and customs cases.
Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified incomes for Uttaranchal Board.
Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sections 44AD, 44ADA, and 44AE of the Income Tax Act. These sections, aimed at simplifying tax compliance for certain taxpayers, face scrutiny for their applicability, concessions, and implications on business operations. WHETHER THE PROBLEMS IN THE PRESUMPTIVE TAXATION WILL […]
Explore the full text of the ITAT Ahmedabad order where Neo Structo Construction Pvt. Ltd. successfully challenges a ₹3 Cr addition by ACIT. Detailed analysis provided.
Once an assessment has been finalized for a particular year, reassessment cannot be justified merely due to subsequent procedural events like re-registration of property deeds.
Read the detailed analysis of ITAT Delhi’s decision in Rhine Energy LLP vs Assessment Unit, allowing expenses on Buffet Dinner, Liquor, and Govt Taxes as business promotion under section 37(1) of IT Act.
When it’s established as a legal principle that an assessee isn’t obligated to request a ‘personal hearing,’ the Assessing Authority must still provide this opportunity before making an adverse order. Therefore, marking ‘No’ in the personal hearing choice holds no legal consequence.
