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Archive: August, 2024

Posts in August, 2024

Addition of opening cash balance as undisclosed income not impermissible: ITAT Jodhpur

August 3, 2024 5118 Views 0 comment Print

Naveen Bolia Vs ITO (ITAT Jodhpur) The case of Naveen Bolia Vs ITO, adjudicated by the Income Tax Appellate Tribunal (ITAT) Jodhpur, revolves around the legality of assessment and the merits of certain additions made by the Assessing Officer (AO). The appellant, Naveen Bolia, challenged the assessment order on two primary grounds: the legality of […]

Penalties under Section 271(1)(c) cannot be imposed on estimated additions

August 3, 2024 3669 Views 0 comment Print

Penalties under Section 271(1)(c) cannot be imposed based on estimated additions without concrete evidence of concealment or inaccurate particulars of income.

Missed ITR Filing Deadline: Implications and Next Steps

August 3, 2024 7905 Views 0 comment Print

Missed the ITR filing deadline? Learn the penalties, interest charges, and restrictions. Understand the consequences and how to file belated or updated returns.

Fibe plans to raise Rs 3,000 crore in debt in FY25; to expand pan-India reach, says co-founder

August 3, 2024 816 Views 0 comment Print

Fibe plans to raise ₹3,000 crore in debt for pan-India expansion in FY25. The fintech firm, having recently raised $90M, targets significant growth.

Surprising Amendment from Budget: Introduction of Section 194T

August 3, 2024 16752 Views 0 comment Print

Learn about the new Section 194T, its implications on TDS for partners’ remuneration, and the interplay with Section 40(b) from the latest budget amendment.

Mining, cutting & polishing of Marble constitute ‘production’ for Section 80IB

August 3, 2024 747 Views 0 comment Print

Rajasthan High Court rules on CIT Kota Vs World Wide Stone case, addressing deductions under Sec. 80 IB for activities involving mining, cutting, and polishing.

राज्य बार काउंसिल नामांकन शुल्क अधिक नहीं ले सकती ।

August 3, 2024 1038 Views 0 comment Print

सुप्रीम कोर्ट ने राज्य बार काउंसिलों द्वारा अत्यधिक नामांकन शुल्क को अवैध ठहराया, अधिवक्ता अधिनियम की धारा 24(1)(F) के अनुसार शुल्क सीमित किया।

Time of Supply of Goods and Services Provisions under GST: Detailed Analysis

August 3, 2024 6984 Views 0 comment Print

Explore the detailed analysis of Time of Supply (TOS) provisions under GST, including the point of taxation for goods and services.

Contractual Stenographers, Bench Clerks Pose Difficulties for District Judiciary: Calcutta HC

August 3, 2024 1038 Views 0 comment Print

Calcutta HC ruled that recruiting stenographers and bench clerks on a contractual basis will hinder district judiciary operations, emphasizing the need for regular employees.

TDS Section 194T: Key Provisions & Implications for Partnership Firms & LLPs

August 3, 2024 8985 Views 1 comment Print

Discover Section 194T’s new TDS regulations on payments to partners, including salary, commission, and interest. Effective April 2025, learn key provisions and compliance tips.

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