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Archive: 05 March 2025

Posts in 05 March 2025

CBDT Circular Cannot Override Statutory Provisions by Prescribing Limitation Period Absent in Income Tax Act

March 5, 2025 1371 Views 0 comment Print

The writ petitioner impugns the order dated 27 March 2018 in terms of which the respondent has come to reject applications filed by it seeking refund of excess tax wrongly deducted and deposited u/s. 195 of the Income Tax Act, 1961.

Formation of an effective Board in a growing organization

March 5, 2025 1047 Views 0 comment Print

Learn key strategies for forming an effective board to enhance governance, decision-making, and organizational success with expert guidance and actionable insights.

Reopening u/s. 147 based on communication without independent application of mind is invalid

March 5, 2025 870 Views 0 comment Print

Delhi High Court held that reopening of an assessment under section 147 of the Income Tax Act merely on the basis of communication from ACIT, without independent application of mind, is invalid and liable to be set aside.

Why Signature of Proper officer matters in GST order?

March 5, 2025 2013 Views 0 comment Print

The Telangana High Court took a firm stance—unsigned GST notices and orders, even if uploaded on the GST portal, hold no legal value. The court ruled that without a proper physical or digital signature by the Proper Officer, such documents are invalid.

Dismissal of appeal merely on account of non-prosecution not justified: ITAT Raipur

March 5, 2025 762 Views 0 comment Print

ITAT Raipur held that dismissal of appeal by CIT(A) without disposing off on merits, merely on account of non-prosecution is unjustifiable. Accordingly, order set-aside with direction to dispose off on merits.

DGFT Amends Import Policy for Platinum Products from Free to Restricted

March 5, 2025 1398 Views 0 comment Print

India revises import policy for platinum, restricting imports except for platinum alloy with 99% or more purity. Changes effective under DGFT Notification No. 60.

Liberty Can’t Be Curtailed Citing Participation In Protests: Kerala HC

March 5, 2025 339 Views 0 comment Print

Kerala High Court quashes order restricting a woman’s liberty, stating participation in protests is not sufficient reason to curtail fundamental rights.

TDS on Rent for FY 2024-25: Section 194-IB Rate – 5% or 2%?

March 5, 2025 54384 Views 0 comment Print

Confused about the TDS rate on rent under Section 194-IB for FY 2024-25? Learn when to apply 5% or 2% based on the Union Budget 2024 changes effective Oct 1, 2024.

ITAT Deletes Addition of Alleged Bogus Purchases citing lack of evidence

March 5, 2025 1413 Views 0 comment Print

ITAT Delhi deleted additions made on alleged bogus purchases by Rama Hygienic Products Pvt. Ltd., citing lack of evidence and reliance on oral statements.

Ubharte Sitaare Fund – How to Apply & Eligibility

March 5, 2025 1428 Views 0 comment Print

Learn about the Ubharte Sitaare Fund, its objectives, benefits, eligibility criteria, and how small and mid-sized businesses can apply for this scheme.

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