ITAT Chennai held that the condonation of delay should not be dismissed for the reason that the appeal filed belatedly is not accompanied by condonation petition. Thus, order set aside and matter remanded back.
This would lead one to the inescapable conclusion of no perceivable or plausible tax liability possibly being created. Consequently, the proceedings initiated in terms of the impugned SCNs‟ and their continuance would be futile and impractical.
Further, in reference application filed under the Settlement Act, the Dy CST passed an order of settlement u/s 13(1) and arrived at the same figure of the settlement amount which were calculated by the assessee in its application.
SEBI states sale to meet public shareholding norms isn’t exempt from insider trading rules, impacting Nirma’s share sale in Glenmark Life Sciences.
Omission of Rule 96(10) under Notification 20/2024-Central Tax offers relief to exporters claiming IGST refunds, easing refund procedures for smoother export operations.
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Assessee had deposited Rs.2,25,00,000/- during the demonetization period in the bank account and explained the reason of the cash deposit, hence he had discharged the onus and prove the genuineness of the transaction.
Maharashtra GST Department allows offline processing of audits for FY 2020-21 due to technical issues, with instructions for manual notice issuance.
SEBI provides informal guidance to CMS Info Systems on promoter disclosures and nominee shareholder roles under LODR and ICDR regulations.
