Allahabad High Court quashes GST penalty for expired E-way bill due to driver’s detour, ruling no intent to evade tax was proven. Refund ordered.
ITAT Bangalore directs AO to reconsider 80P deduction after lower authorities overlooked Supreme Court precedents in Arjuna Souhardha Pathina Sahakari Niyamitha case.
ITAT Indore remands Real Food Agency Pvt Ltd case to CIT(A) for proper adjudication, citing inadequate opportunity for hearing and procedural issues.
Bombay High Court quashes income tax notices issued to a deceased person. Directs issuance of new notices to legal representatives and requests CBDT for procedure changes.
Madras High Court issues interim orders in A. Venkatachalam vs Assistant Commissioner case on GST levy on royalty, awaiting decision by Supreme Court’s Constitution Bench.
MCA issues the Companies (Ind AS) Third Amendment Rules, 2024. New provisions for insurers on financial reporting using Ind AS 104 until Ind AS 117 is notified.
ICAI calls for suggestions on simplifying the Income-tax Act, mitigating litigation, and reducing compliance burdens. Submit inputs by 15th October 2024.
ICAI establishes a group to improve work-life balance and stress management for Chartered Accountants through workshops, wellness programs, and peer support networks.
The Government extends the RoDTEP scheme for DTA and SEZ exports, with revised rates effective from October 10, 2024. Full details are provided in the notification.
CBIC introduces a digital module for Customs Bonded Warehouses to facilitate online licensing, transfers, and monthly returns.
