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Archive: 09 December 2024

Posts in 09 December 2024

TDS Credit Allowed if Employer Deducted but Didn’t Deposit: Orissa HC

December 9, 2024 915 Views 0 comment Print

The Orissa High Court addresses TDS credit denial in Malay Kar Vs Union of India. Issues include mismatched Form 26AS entries and employer non-compliance.

Directors’ Liability for Tax Arrears: Section 179(1) not extends to public companies

December 9, 2024 477 Views 0 comment Print

Section 179(1) of Income Tax Act is explicitly applicable only to private limited companies and does not extend to public companies. As there is no similar provision for public companies

Statutory provisions of limitations on GST Appeal Filing are binding: Orissa HC

December 9, 2024 270 Views 0 comment Print

Petitioner presented medical reports to justify delay in GST Appeal Filing but court emphasized that statutory provisions regarding limitations are binding.

Regular assessment cannot be revisited under Section 153C in absence of incriminating evidence

December 9, 2024 402 Views 0 comment Print

ITAT Pune ruled on multiple appeals in Bharati Vidyapeeths case, addressing issues on exemptions under Sections 11, 13, 10(23C), and validity of Section 153C notices.

Section 153A requires a nexus between seized materials & income additions: Orissa HC

December 9, 2024 1293 Views 0 comment Print

Orissa HC addresses challenges to the initiation of tax assessment and the retrospective effect of the amendment to Section 132(1) of the Income Tax Act.

Allahabad HC Reduces GST Section 129(1)(a) Penalty to Twice the Tax Amount

December 9, 2024 498 Views 0 comment Print

The Allahabad High Court reduced the penalty imposed on Singh Traders, modifying it to twice the tax amount under Section 129(1)(a) of the U.P. GST Act.

Mehta Charitable Trust case: ITAT disallows expenses not related to taxable income 

December 9, 2024 849 Views 0 comment Print

ITAT Delhi dismissed Revenue’s appeal in the case of Mehta Charitable Prajanalaya Trust, addressing issues related to charitable income and expense claims.

Advisory on difference in value of Table 8A and 8C of Annual Returns FY 23-24

December 9, 2024 18387 Views 0 comment Print

GSTN issues Clarifications on discrepancies in Table 8A and 8C of GSTR-9 for FY 2023-24 due to ITC reporting changes.

SEBI Warns Against Trading on Unlisted Electronic Platforms

December 9, 2024 4128 Views 0 comment Print

SEBI cautions investors against transacting on unauthorized platforms for unlisted public company securities. Only recognized stock exchanges are allowed for trading.

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