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Revisions to Senior Citizen’s Savings, National Savings Time Deposit & PPF Schemes

November 14, 2023 1878 Views 0 comment Print

Explore the impact of SB Order No. 22/2023 on Senior Citizen’s Savings Scheme, National Savings Time Deposit Scheme, and Public Provident Fund Scheme. Detailed analysis and changes outlined.

ITAT Delhi deletes addition for Difference in Opening & Closing Stock Due to Mistake

November 14, 2023 1356 Views 1 comment Print

ITAT Delhi upholds deletion of Rs. 1.75 Cr disallowance, clerical error in ITR. Full order details of ITO vs. Roshan Lal Sharma for AY 2011-12 & 2012-13.

Drilling, testing & completion of exploratory oil wells taxable w.e.f. 01.06.2007

November 14, 2023 540 Views 0 comment Print

CESTAT Kolkata rules in favor of Oil and Natural Gas Corporation, categorizing drain hole drilling in oil wells as “mining services” from June 2007, rejecting service tax claims.

Delhi HC quashes Income Tax Assessment Order for Natural Justice violation

November 13, 2023 4563 Views 0 comment Print

Relief for Indus Towers as Delhi High Court nullifies Income Tax Assessment Order, citing non-compliance with natural justice. Full analysis of the judgment in Indus Towers Limited vs. ACIT.

ITAT Upholds Section 263 Revision on ITR Acceptance Without Adequate Enquiry

November 13, 2023 378 Views 0 comment Print

ITAT Delhi validates PCIT’s revision order under Section 263, emphasizing the importance of adequate enquiry by AO for unsecured loans, advances, and income in AY 2015-16.

MCA Imposes Penalty for Failure to Maintain Charge Details in Register

November 13, 2023 1638 Views 0 comment Print

Learn how HOLITECH India failed to maintain charge details, leading to penalties by MCA. Understand legal implications, consequences, and appeal procedures.

Bombay HC Slams Department for its System Default excuse for IT Refund Delay

November 13, 2023 7401 Views 0 comment Print

Bombay High Court criticizes default system excuses delaying refunds, urges Finance Ministry intervention. Matrix Publicities vs. DCIT detailed case analysis.

Gujarat High Court Halts GST Recovery Amid Tribunal Dysfunction

November 13, 2023 966 Views 0 comment Print

Gujarat High Court grants stay on recovery of GST dues as GST Appellate Tribunal remains non-functional. Detailed analysis of the Rajkalp Mudranalya Private Limited case.

GST Penalty Quashed, Emphasizes Hearing Rights: Allahabad HC

November 13, 2023 1116 Views 0 comment Print

Allahabad High Court quashes GST penalty in New India Traders case, stresses the importance of opportunity of hearing. Detailed analysis and implications.

Ship Demurrage Charges not includible in Transaction Value of Imported Goods: CESTAT

November 13, 2023 951 Views 0 comment Print

CESTAT Ahmedabad rules in favor of Reliance Industries, stating ship demurrage charges are not part of imported goods’ transaction value. Full analysis of C.C. Ahmedabad vs. Reliance Industries Limited.

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