Held that the cash deposits are made out of the sale proceeds of the assessee and in my opinion the assessee has properly explained the source of the cash deposits along with documentary evidence.
ITAT Ahmedabad held that invocation of revisionary proceedings under section 263 of the Income Tax Act merely taking second opinion unjustified. Further, view taken by AO cannot be set aside or deferred as per provisions of section 263.
Allahabad High Court held that if excess stock is found at the time of survey, then proceedings under sections 73/74 of the GST Act should be pressed in service and not proceedings under section 130 of the GST Act
Supreme Court ruling on Purolator India Ltd.’s excise duty dispute involving sales tax, cash discounts, and volume discounts under the Central Excise Act, 1944.
Supreme Court’s verdict on Section 148 notices raises uncertainty in 90,000 cases. Learn its impact on assessment and pending tax proceedings.
Section 79 of the Income Tax Act focuses on beneficial ownership, affecting loss carryforward during shareholding changes. Learn its significance in tax matters.
The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Settle disputes before Dec 31, 2024.
MCA imposes penalties on Shivsu Canadian Clear Waters Ltd. and SBO for non-submission of Form BEN-1 and BEN-2, as per Section 90 of Companies Act, 2013.
Rajasthan HC stays ECrL blocking under Rule 86A by range officer without a hearing opportunity, ruling violation of natural justice principles. Further hearing awaited.
Learn about the TDS provisions under GST for metal scrap, applicable from October 2024, covering thresholds, rates, and filing requirements.
