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No Section 271(1)(c) penalty if AO not indicate which limb is attracted

December 24, 2023 726 Views 0 comment Print

Delve into Delhi High Court’s judgment on PCIT Vs Minu Bakshi, exploring penalty imposition, notice specifics, and impact on income tax cases.

Non-Payment of VAT on Repossessed Vehicle Sale, Asserting DVAT Act Exemption, Not Deemed Concealment: Delhi HC

December 24, 2023 423 Views 0 comment Print

Delhi High Court rules that non-payment of VAT on repossessed vehicle sale, asserting DVAT Act exemption, is not deemed concealment, setting aside penalty orders.

Kerala HC allows Monthly Instalments for Service Tax dues

December 23, 2023 363 Views 0 comment Print

Read the Kerala High Court judgment in Mithlaj. P’s case. Monthly instalments permitted for a service tax liability of Rs. 36,19,736. Bank account unfreezed on payment.

Audit Committee Formation Delay (Section 177): MCA Imposes Rs. 12 Lakh Penalty

December 23, 2023 5184 Views 0 comment Print

ROC Karnataka issues an adjudication order imposing penalties on Mukka Proteins Limited for violating Section 177(2) of Companies Act, 2013.

Rajasthan HC Clarifies Solvent Security vs. Bank Guarantee in GST Refund Case

December 23, 2023 852 Views 0 comment Print

Rajasthan High Court ruling on Raj Kamal Cargo Movers vs. Assistant Commissioner clarifies the distinction between solvent security and bank guarantee in refund cases. Full judgment provided.

HC upheld penalty deletion as notice not specifies appropriate limb for penalty 

December 23, 2023 219 Views 0 comment Print

In PCIT Vs Bhudeva Estate Pvt. Ltd., Delhi High Court emphasized that notices for penalty under Section 271(1)(c) must explicitly specify grounds for penalty imposition.

Delhi HC sets aside GST Registration Cancellation for lack of specific details in SCN & absence of reasons in order

December 22, 2023 450 Views 0 comment Print

Delhi High Court overturns the cancellation of Aaira Batteries’ GST registration, citing a lack of natural justice. Detailed analysis of the case and implications for businesses.

T+0 & Instant Settlement Options: Consultation Paper on Enhanced Settlement Cycles

December 22, 2023 654 Views 0 comment Print

Explore the Consultation Paper on introducing T+0 and Instant Settlement in Indian Securities Markets. Learn the benefits, features, and potential concerns. Share your insights now!

ICAI Clarifications on Advanced ICITSS for CA Final Exam Eligibility

December 22, 2023 7470 Views 0 comment Print

Get clarifications on completing Advanced ICITSS for CA Final exam eligibility. Details on Advanced IT test, categories, and requirements. Stay informed with ICAI.

CIT vs Travelport: Delhi HC Upholds 15% Revenue Attribution to PE in India

December 22, 2023 432 Views 0 comment Print

Delhi High Court grants relief to Travelport LP USA as it upholds CIT’s 15% revenue attribution to PE in India. Full text and analysis of the judgment.

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