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Archive: 08 February 2025

Posts in 08 February 2025

ITAT Mumbai quashes reassessment for invalid Section 151(ii) approval

February 8, 2025 3228 Views 0 comment Print

ITAT Mumbai invalidates reassessment in Ramlal G Suthar vs. ITO due to improper approval under Section 151(ii) of the Income-tax Act, 1961. Read the full summary.

IT Notices to Non-Existent Company Void Ab Initio, Not Rectifiable Under Section 292B: Bombay HC

February 8, 2025 378 Views 0 comment Print

Bombay High Court quashes reassessment notices issued to a non-existent entity post-merger in City Corporation Ltd vs ACIT, citing substantive illegality.

Bombay HC Seeks Accountability for Lost Jewelry Seized by Tax Department in 2005

February 8, 2025 789 Views 0 comment Print

Bombay High Court addresses Hiralal Malu’s plea for the return of seized jewelry, highlighting disputes between the tax department and Bank of Maharashtra over its whereabouts.

Carried forward losses cannot be set-off against exempt capital gains under DTAA

February 8, 2025 456 Views 0 comment Print

ITAT Mumbai ruled on TVF Fund Ltd’s appeal regarding tax loss set-off under DTAA. Key issues include carry-forward losses, taxability, and judicial precedents.

No Section 278AA Prosecution for TDS Delays due to Reasonable Cause: Orissa HC

February 8, 2025 426 Views 0 comment Print

Orissa HC examines TDS prosecution in D.N. Homes case, focusing on COVID-19 delays and reasonable cause under Section 278AA of the Income Tax Act.

Absence of GST Tribunal: Orissa HC Directs Stay of Recovery Proceedings

February 8, 2025 273 Views 0 comment Print

Orissa HC rules on GST appeal rights in Maa Tarini Traders case, granting stay due to non-constitution of the Appellate Tribunal. Read key legal findings.

Discounting charges not interest for TDS & cannot be disallowed under Section 40(a)(i)

February 8, 2025 537 Views 0 comment Print

Delhi High Court upheld ITAT’s decision in CIT vs. Cargill Global Trading, ruling that discount charges are not interest and not subject to TDS under Section 195.

NCLAT Rejects IBC Section 9 Plea Against Hindustan Unilever Ltd (HUL)

February 8, 2025 306 Views 0 comment Print

NCLAT upholds rejection of IBC Section 9 application against HUL, citing pre-existing disputes and claims below the Rs. 1 crore threshold. Appeal dismissed.

Conveyance & Deemed Conveyance in Housing Societies

February 8, 2025 3213 Views 0 comment Print

Understanding conveyance & deemed conveyance in housing societies, legal provisions, benefits, and challenges under MOFA, RERA, and redevelopment projects.

Biometric Aadhaar Authentication for GST in Maharashtra & Lakshadweep

February 8, 2025 606 Views 0 comment Print

GST applicants in Maharashtra & Lakshadweep must complete biometric Aadhaar authentication & document verification at GST Suvidha Kendras for registration.

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