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ITAT Jaipur upheld CIT(A)’s decision to add undisclosed income under Sec 50C in the case of Kavita Samtani Vs DCIT, relating to discrepancies in reported property sale value.
As per provisions of section 153C of the Act, notice required to be issued to the other person would be a notice under section 153C of the Act, but even then assessment is to be framed in accordance with the procedure prescribed under section 153A of the Act.
ITAT Jaipur rules in favor of Deepak Kumar Samtani, dismissing penalty under Section 272A(1)(C) due to lack of evidence of non-compliance with issued notices.
GST compliance on Buy One Get One Free offers, secondary discounts, and issuance of credit notes clarified by CBIC, including Input Tax Credit details.
SEBI proposes amendments to the definition of UPSI under PIT Regulations, 2015, expanding the list of material events. Public comments open till November 30, 2024.
Delhi High Court held that non-issuance of Police Clearance Certificate [PCC] merely due to pendency of FIR, without any conviction or finding of guilt, constitutes an unreasonable restriction. Accordingly, court directed to issue PCC.
FSSAI mandates PAN linkage for new, renewed, and modified licenses/registrations under FoSCoS effective October 22, 2024.
Punjab and Haryana High Court held that grant of bail is a general rule and putting persons in jail or in prison or in correction home is an exception. Accordingly, regular bail granted in matter of fraudulent availment of ITC.
CCPA’s new guidelines target misleading ads in the coaching sector, ensuring transparency and truth in advertisements for coaching centers.
CAVR Order No. 02/2024 extends validity for stainless steel J3 grade imports under specific HS codes till 28th November 2025.
