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Archive: December, 2024

Posts in December, 2024

Section 61 IBC Time-Period cannot be Extended under Limitation Act: NCLAT

December 29, 2024 618 Views 0 comment Print

NCLAT dismisses Hero Exports’ appeal against CIRP approval, stating that IBC Section 61 time limits cannot be extended under the Limitation Act.

Orissa High Court Dismisses CGST Appeal Due to Revised Monetary Limit

December 29, 2024 390 Views 0 comment Print

Orissa HC dismisses CGST appeal as tax effect is below revised monetary limit for departmental appeals, following a withdrawal request by revenue counsel.

Non-Constitution of GSTAT: Patna HC Grants Stay on recovery on 20% Deposit

December 29, 2024 513 Views 0 comment Print

Patna High Court grants conditional stay on GST tax recovery due to the non-constitution of the GST Appellate Tribunal, requiring a 20% deposit of disputed tax.

ITAT Orders Rehearing of Appeal After CIT(A) Dismissal for Non-Prosecution

December 29, 2024 489 Views 0 comment Print

ITAT Delhi restores BKR Capital Pvt Ltd appeal for rehearing after CIT(A) dismissed it ex-parte, directing the assessee be given a hearing opportunity.

Excise Duty Exemption Not Taxable under Income Tax Act, 1961

December 29, 2024 663 Views 0 comment Print

Jammu & Kashmir HC rules excise duty exemption is a capital receipt, not taxable under Income Tax Act, dismissing Revenue’s appeal in PCIT Vs Gravita Metal Inc.

Low Tax Effect: ITAT Ahmedabad Dismisses Revenue Appeal

December 29, 2024 684 Views 0 comment Print

ITAT Ahmedabad dismisses Revenue’s appeal due to low tax effect under CBDT Circular No. 09/2024. The case involved taxability of interest income on project funds.

Denial of Personal Hearing: ITAT Remands Case to CIT(A) for Fresh Adjudication

December 29, 2024 651 Views 0 comment Print

ITAT Delhi remands appeal to CIT(A) for fresh adjudication due to denial of personal hearing in Kumar Kanti Das Vs ACIT case for AY 2017-18.

ITAT Remands Case for Verification of Liability under Section 41(1)

December 29, 2024 534 Views 0 comment Print

ITAT Surat remands case to AO for verification of Rs. 15.71 Lakh liability under Section 41(1) due to lack of evidence of payment and TDS deduction.

GST Waiver Scheme Application Process: SPL-02 Filing Guide

December 29, 2024 30846 Views 3 comments Print

Learn about the GST waiver scheme under Section 128A, covering tax periods July 2017 to March 2020. Step-by-step SPL-02 filing process and key guidelines.

Temple Trust Exemptions u/s 11 & 12 allowed due to inapplicability of 12A(1)(ba) amendment for AY 2017-18

December 29, 2024 699 Views 0 comment Print

Clause (ba) of sub-section (1) of section 12A was applicable for AY.2018-19 onwards and not for AY.2017-18, assessee-temple trust was entitled to tax exemptions under Sections 11 and 12 . Hence, the order of AO was not erroneous and prejudicial to the interests of revenue and therefore, it was not amenable to revision u/s 263.

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