ITAT Delhi held that granting of single approval under section 153D of the Income Tax Act for difference assessment years and that too mechanically without application of mind is not sustainable. Accordingly, entire proceedings initiated u/s. 153C quashed.
Are you tired of the painstaking, manual process of GST reconciliation? Do you spend hours cross-referencing your GSTR-3B ITC data with GSTR-2B, trying to pinpoint discrepancies? What if there was a simple, automated solution right within your familiar Excel environment?
Understand taxation of partnership firms in India, covering firm-level tax, partner remuneration, capital contributions and tax implications during reconstitution or dissolution under Income Tax Act, 1961.
The ITAT Delhi ruled reassessment notices issued to a dissolved firm, Ganesh Commodity Brokers, were invalid as they were not served on former partners as per Section 283(2) of the Income Tax Act.
Understand IBC Section 24(3)(c) regarding operational creditors’ right to receive notice for Committee of Creditors meetings when their aggregate dues meet the 10% threshold.
#AD Investing in today’s digital age is no longer a privilege for a few. It is a right and an opportunity for every financially aware Indian. If you’re above 18, one of the smartest steps you can take is to open Demat account. This account is your gateway to the world of stock markets and […]
ITAT Hyderabad held that reference to special audit u/sec.142(2A) of the Act dated 31.12.2018 without satisfying the conditions provided therein, is arbitrary, illegal and void abinitio. Accordingly, final assessment order is quashed.
Kerala High Court grants bail, stating a consensual relationship turning sour isn’t rape. Court emphasizes caution in false allegations and misuse of law.
Brief overview of IBC: The Insolvency and Bankruptcy Code (IBC) is a law made by the Indian government in 2016 to help companies, individuals, or businesses that are unable to repay their debts. Before this law, solving such problems used to take many years and involved multiple laws and courts. IBC changed that by creating […]
Calcutta High Court emphasized that refund denials cannot be sustained unless deficiencies are effectively and electronically communicated to applicant via GST portal.
