ITAT Mumbai held that passing of assessment order u/s 147 r.w.s. 144B of the Act without disposing the objections raised by the assessee is not sustainable being without jurisdiction. Accordingly, reassessment notice u/s. 148 set aside.
Delhi HC dismisses revenue’s appeal, affirming that cash sales during demonetization, accounted for and taxed, cannot be treated as unexplained income u/s 68.
Smt. Syeda Rahimunnisa and Syed Hyder Hussaini are wife and husband whereas the respondent no. 1(a) to 1(f) are the legal heirs of one late Haji Mian being mother, wife, sons and daughters respectively.
NCLT Delhi dismisses Transline Technologies’ insolvency petition against Experio Tech, citing a joint venture relationship, not operational debt.
DCIT Vs K Raheja IT Park (Hyderabad) Ltd. (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai dismissed appeals filed by the revenue challenging the Commissioner of Income Tax (Appeals)’s order regarding deductions claimed under Section 80IA(4)(iii) of the Income Tax Act, 1961, by K Raheja IT Park (Hyderabad) Ltd. The appeals pertained to assessment […]
Learn about the Special Valuation Branch (SVB) under Indian Customs and how it determines the value of transactions between related parties for fair pricing.
Introduction to Compounding Compounding of contraventions is a voluntary process where an individual or entity admits a contravention under any provision of law and seeks to settle the matter by paying the compounding fees, thus avoiding lengthy legal proceedings and hefty penalties which arise due to the committed contraventions. FEMA and the Compounding Rules The […]
SEBI launches MITRA platform to help investors track inactive mutual fund investments and update KYC details, improving transparency and reducing fraud.
The Gauhati High Court ruled that GST registration cancellation can be revoked if pending returns are filed and dues are cleared under Rule 22 of CGST Rules.
The Gauhati High Court directed the restoration of a canceled GST registration, allowing revival upon filing returns and clearing dues under Rule 23 of CGST Rules.
