ITAT Delhi held that penalty under section 270A of the Income Tax Act not leviable since income assessed and income processed are same. Accordingly, in absence of under reporting of income, no penalty can be levied.
Gujarat High Court held that denial of benefit of lower rate of tax u/s. 115BAA of the Income Tax Act on technical ground of mere delay in filing of Form 10-IC unjustified as all the other conditions duly satisfied.
ITAT Delhi held that External Development Charges (EDC) is an advance collected to provide common facilities and other services to the prospective flat owners. Since, the same is collected on approval of HUDA, it cannot form part of Profit and Loss Account. Accordingly, addition towards the same rightly deleted.
ITAT Delhi held that agriculturist are not required to maintain books of accounts as provisions of section 44AA of the Income Tax Act. Accordingly, exemption claim u/s. 10(1) allowed.
Bombay High Court held that entire process of according sanction under section 151 of the Income Tax Act for initiation of reassessment granted in a mechanical manner without application of mind is unjustified and hence reassessment proceedings quashed.
CESTAT Delhi held that imposition of penalty under section 11AC(1)(a) of the Central Excise Act, 1944 mandatory on account of shortage detected during the course of search. Accordingly, penalty upheld.
SEBI exempts Spice Healthcare from open offer for SpiceJet shares acquisition, with a 24-month lock-in period for newly acquired shares.
Explore the journey of internal auditing from traditional practices to management audits, highlighting its role in business growth, compliance, and operational efficiency.
Ashapuram Nidhi Ltd and its directors penalized for not mentioning DIN in the 2018 financial report. Total penalty of ₹2 lakh imposed by ROC West Bengal.
भारत में कानून स्नातकों के लिए पात्रता, परीक्षा प्रारूप, महत्वपूर्ण विषयों और तैयारी युक्तियों पर मुख्य जानकारी के साथ अखिल भारतीय बार परीक्षा (एआईबीई) 2024 की तैयारी करें।
