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Archive: February, 2025

Posts in February, 2025

Biometric Aadhaar Authentication for GST Registration in Jharkhand & Andaman 

February 18, 2025 876 Views 0 comment Print

GST registration in Jharkhand & Andaman now requires biometric Aadhaar authentication and document verification at GST Suvidha Kendras. Learn the new process.

Kerala HC allowed lower 4% concessional tax rate instead of 6% under KVAT Act

February 18, 2025 57 Views 0 comment Print

The company had canceled its CST registration effective from March 31, 2014, and argued that it had not imported any goods from other states or countries for incorporation in its works contracts.

Income Tax on Redemption of Debt Mutual Funds

February 18, 2025 7206 Views 2 comments Print

Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligibility under Section 87A.

Disallowance u/s 14A was invalid in absence of Exempt Income

February 18, 2025 99 Views 0 comment Print

Assessee-company was involved in manufacturing tractors, agricultural equipment, and spare parts, also operated a technology center providing IT and engineering services to Deer Associates.

No Section 43B disallowance if Service Tax Not not routed through P&L: Bombay HC

February 18, 2025 633 Views 1 comment Print

Bombay HC upholds ITAT ruling, stating unpaid service tax isn’t taxable under Section 43B unless claimed as a deduction. Appeal dismissed.

Company & Directors Liable for Prosecution for Failure to Deduct or Pay TDS: SC

February 18, 2025 1971 Views 0 comment Print

The Supreme Court dismissed Madhumilan Syntex Ltd.’s appeal against prosecution for delayed TDS payment under the Income Tax Act. Read the case summary.

Corporate non-existence precludes assessment proceedings against a dissolved entity

February 18, 2025 207 Views 0 comment Print

Gujarat High Court quashes reassessment notice under Section 148 issued to Adani Wilmar’s amalgamated entity, citing legal precedents on corporate non-existence.

ICAI clears CA from Charge of misappropriation of Rs. 7 crore

February 18, 2025 858 Views 0 comment Print

The Board of Discipline reviewed allegations against CA. Upendra Muley, focusing on fraud claims. Findings highlight lack of evidence and inconsistencies in accusations.

Bombay HC Quashes Income Tax Notice to Non-Existent Uber Entity

February 18, 2025 231 Views 0 comment Print

The Bombay High Court ruled that an income tax notice issued to a non-existent amalgamated Uber entity was invalid, citing legal precedents on corporate mergers.

No revision u/s 263 for claim of Bank of Maharashtra’s ₹1137 Crore deduction for Bad and Doubtful Debts

February 18, 2025 105 Views 0 comment Print

PCIT was not justified in assuming jurisdiction u/s 263 in the case of Bank of Maharashtra allowing deduction under Section 36(1)(via) as Assessing Officer’s (AO) assessment order was not erroneous, even if it was prejudicial to the interest of revenue.

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