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Archive: 27 January 2025

Posts in 27 January 2025

Interest on investment with banks eligible for Section 80P(2)(a)(i) deduction: ITAT Pune

January 27, 2025 756 Views 0 comment Print

In the matter abovementioned ITAT Pune after relying upon the decision of jurisdictional HC held that assessee was eligible for deduction u/sec.80P(2)(a) (i) on the Interest earned by assessee.

Bail in GST fake firm registration rejected due to grave economic offence: Allahabad HC

January 27, 2025 303 Views 0 comment Print

Allahabad High Court rejected bail application of applicant involved in GST fake firm matter since the case of bail is not made out in economic offence where money trail of crores and co-accused discharge application has already been rejected.

Options and Futures: Essential Guide for New Traders

January 27, 2025 2619 Views 0 comment Print

When it comes to trading, the world of financial markets can be daunting for beginners. However, two essential instruments, future and options, are crucial for those looking to diversify their portfolios and explore more advanced strategies.

Releasing Pleadings to Media Before Court Consideration Unacceptable: Delhi HC

January 27, 2025 213 Views 0 comment Print

Delhi HC condemns releasing legal documents to media before court review, citing prejudice and harm to judicial independence. Advocates face disciplinary action.

Notification 8/2025-Central Tax: Late Fee Waiver Analysis

January 27, 2025 6606 Views 2 comments Print

Detailed analysis of Notification 8/2025-Central Tax on late fee waiver for delayed filing of Form GSTR-9C. Key conditions, applicability, and compliance deadlines.

TDS not deductible on commission paid to foreign agents as no PE in India

January 27, 2025 285 Views 0 comment Print

ITAT Chennai held that payments are in the nature of selling commission to foreign agents who is not having permanent establishment or business connection in India is not taxable in India and accordingly, TDS u/s. 195 not deductible.

Scheme of Arrangement U/S 230 Not Allowed Post E-Auction of Corporate Debtor

January 27, 2025 693 Views 0 comment Print

NCLAT Chennai held that after finalization of process of e-auction sale of Corporate Debtor, it cannot be permitted to consider Scheme of Arrangement proposed under section 230 of the Companies Act.

High Sales Figures Not Grounds for Treating Cash Deposit as Unexplained Income

January 27, 2025 462 Views 0 comment Print

ITAT Chandigarh deletes ₹32 lakh addition against Pawan International, ruling cash deposits from opening stock sales cannot be treated as unexplained income.

Application u/s. 7 of IBC allowed even if proceedings initiated before Debts Recovery Tribunal

January 27, 2025 225 Views 0 comment Print

NCLAT Delhi held that initiated proceedings before the Debts Recovery Tribunal does not preclude Financial Creditors to take remedy under Section 7, which is a special remedy provided under the IBC.

Loan Creditworthiness in Question: ITAT Remands ₹36.5 Lakh addition Case

January 27, 2025 339 Views 0 comment Print

ITAT Chennai remands ₹36.5 lakh unexplained loans case for reconsideration after assessee fails to provide sufficient evidence of creditors’ financial capacity.

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