NPCI introduces new transaction codes for DBT under NACH. Changes apply to APBS and ACH transactions with updates effective November 23, 2024.
ITAT Jaipur dismisses appeal in Kavita Samtani Vs DCIT, upholding additions under Section 68 of the Income Tax Act for unexplained credits.
Clarifies GST liability on oil tanker lease charges, emphasizing exemption for owners under Notification 12/2017.
Avoid common income tax payment mistakes, including incorrect forms, delayed payments, and incorrect PAN, to ensure compliance and avoid penalties.
Understand scenarios where GSTR-2B is not generated for October 2024, including QRMP scheme details and filing prerequisites. Read the GST advisory for insights.
ITAT Cochin rules AO’s assessment must be both erroneous and prejudicial to revenue for S.263 proceedings. Delay condoned; appeal allowed for Kool Home Builders.
Delhi High Court remands ITAT case for reconsideration on S. 153C, clarifying its applicability to searches conducted before the Finance Act 2015 amendment.
CESTAT rules procedural lapses insufficient to deny SAD refund if taxes are paid, upholding Noritsu India’s claim on imported photofinishing equipment.
Delhi High Court rules that Section 14A disallowance doesn’t apply if no exempt income is earned. Dismisses Revenue’s appeal against Sahara India Financial Corp.
ITAT Chennai remands G. Sekar’s case to CIT(A) for procedural review, highlighting deficiencies in prior assessment order. Fresh adjudication directed.
