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Archive: 21 September 2024

Posts in 21 September 2024

Order based on information not furnished to assessee for explanation is against principles of natural justice

September 21, 2024 402 Views 0 comment Print

Karnataka High Court held that passing of order on information procured from Stock Exchange and banks without furnishing the information to petitioner for their explanation is violative of principles of natural justice and hence set aside.

Private Company’s dues cannot be collected from its directors: SC

September 21, 2024 18774 Views 0 comment Print

Supreme Court rules that tax recovery dues from a company cannot be claimed from its directors if the company is not in liquidation.

Advance Ruling by One State Not Binding on Other States or Third-Party Taxpayers

September 21, 2024 420 Views 0 comment Print

Calcutta High Court rules that advance rulings from one state’s authority do not bind taxpayers or departments in other states or third-party taxpayers.

Section 263 Revision Untenable Without Proving Assessment Order’s Error & Revenue Prejudice

September 21, 2024 465 Views 0 comment Print

The ITAT Kolkata quashed Section 263 proceedings against Nalanda Engicon, ruling that the prior approval under Section 153D was sufficient to invalidate the revision.

No Violation in Payments to Persons u/s 13(3) if Trust Predates Act & Follows Trust Deed

September 21, 2024 246 Views 0 comment Print

Madras High Court rules on CIT Vs Indian Institute of Engineering, affirming tax exemption under Section 11 for payments made as per trust deed.

20 Common Causes Of Failure In CA Exams

September 21, 2024 984 Views 0 comment Print

Explore the 20 common reasons students fail CA exams and how to improve for success. Learn key strategies for effective preparation and performance.

HC Directs Government to Complete GSTAT Member Selection in Four Months

September 21, 2024 300 Views 0 comment Print

Kerala High Court directs the government to appoint GST Appellate Tribunal members within four months, but denies amendments to Section 169 of the CGST Act.

GST Applicable on Increased Rents for Past Periods: AAR Tamil Nadu

September 21, 2024 279 Views 0 comment Print

AAR Tamil Nadu rules that GST applies to increased rents from past periods, treating them as ‘supply’ under the CGST Act, effective from July 1, 2017.

Madras HC Restores GST Registration Canceled for Non-Payment Due to Financial Crisis

September 21, 2024 810 Views 0 comment Print

Madras High Court held that cancellation of GST registration due to non-payment of GST due to the financial crisis faced by the petitioner restored as the same will motivate the petitioner to do his business and pay pending tax.

Section 271E penalty Initiation without recording reasons unsustainable: Madras HC

September 21, 2024 351 Views 0 comment Print

Madras High Court held that the Assessment Officer has not recorded the reasons for arriving at a subjective satisfaction to initiate penalty proceedings under Section 271E of the Act, which is mandatory. Thus, order set aside.

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