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Archive: August, 2024

Posts in August, 2024

Order set aside as opportunity not granted to AO to examine fresh evidence relied upon by CIT(A): ITAT Ahmedabad

August 10, 2024 381 Views 0 comment Print

ITAT Ahmedabad held that CIT(A) relied upon fresh submissions and additional evidence filed by the assessee, however, no opportunity was granted to AO to examine the fresh evidences. Accordingly, order set aside and remanded back for fresh consideration.

Interest entitled u/s. 42(1) of DVAT Act as refund withheld unjustifiably: Delhi HC

August 10, 2024 585 Views 0 comment Print

Delhi High Court held that petitioner is duly entitled for interest under section 42(1) of Delhi Value Added Tax Act, 2004 (the DVAT Act) since refund withheld unjustifiably.

Propagation of vedic thoughts and philosophy eligible for approval u/s. 80G: ITAT Bangalore

August 10, 2024 891 Views 0 comment Print

ITAT Bangalore held that propagation of vedic thoughts and philosophy is not religious activity but are more concerned with the life style of the human beings and therefore is eligible for approval under section 80G of the Income Tax Act.

Purchase Price defined u/s. 2(18) of GVAT would not include Value Added Tax: Supreme Court

August 10, 2024 387 Views 0 comment Print

Supreme Court held that the Purchase Price as defined u/s. 2(18) of the Gujarat Value Added Tax Act, 2003 would not include purchases on which no value added tax was claimed nor granted.

Validity of initiation of reassessment u/s. 147 and 148 must be independently evaluated: Delhi HC

August 10, 2024 1314 Views 0 comment Print

The department issued notice u/s. 148A(b) of the Income Tax Act, 1961, alleging that the petitioner had received loan from its 100% subsidiary i.e., Gul Properties Pvt. Ltd.

Retraction of Statements: Legal Perspective

August 10, 2024 8073 Views 0 comment Print

Explore the importance of recording statements in tax law, their evidentiary value, and the legal process for retraction. Learn about admissions and their implications.

SC In Manish Sisodia Case Criticises High/Trial Court for Playing It Safe In Bail Matters

August 10, 2024 735 Views 0 comment Print

SC slams High Court for ‘playing it safe’ on bail in Manish Sisodia’s case, emphasizing that bail should be the norm, not the exception.

Audit of Accounts of Real Estate Project under RERA 2024: Karnataka RERA

August 10, 2024 3816 Views 0 comment Print

Understand the critical role of Chartered Accountants in RERA audits, ensuring project compliance, financial transparency, and adherence to real estate regulations.

Bombay HC Quashes Section 148 Notices Issued by Jurisdictional AO

August 10, 2024 2319 Views 0 comment Print

Bombay HC rules that only Faceless Assessing Officers can issue Sec 148 notices, quashing those issued by Jurisdictional Assessing Officers.

Annual Filing Due Date Calendar According to Type of Companies

August 10, 2024 7977 Views 0 comment Print

Master the 2023 due dates for annual filings of all company types. Avoid penalties with our comprehensive guide to ROC compliance.

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