Karnataka High Court rules Section 234E demands for late TDS returns prior to 01-06-2015 as invalid, impacting implications for income tax proceedings under IBC. The question of constitutional validity of Section 234E remains open for future consideration.
Understand the implications of the Jayaraj Charles Vs ITO case where ITAT Chennai ruled no penalty should be imposed under section 271B of the Income Tax Act when a return isn’t visible on the e-filing portal.
A detailed analysis of the decision made by the Income Tax Appellate Tribunal (ITAT) Mumbai in the case of Ambuja Cements Limited Vs ACIT. The Tribunal allowed rectification of a mistake apparent from the record under section 254(2) of the Income Tax Act, 1961
Explore the case of Virender Kumar And Sons Jewellers LLP Vs ITO, in which the Calcutta High Court invalidated an assessment notice against a non-existing entity.
SEBI has introduced a supplementary process for trading in the secondary market, allowing blocked funds in investor’s bank accounts to be used instead of transferring them upfront to the trading member. This circular outlines the framework for trading supported by blocked amounts and provides guidelines for implementation and settlement processes.
DGFT issued a policy circular outlining the procedure for applying for the Amnesty scheme for a one-time settlement of default in export obligation by Advance and EPCG authorization holders. In case of difficulties faced with the online application, exporters can now utilize a standalone website to submit their applications in manual mode. This circular provides detailed instructions for filing the application and processing it through the Regional Authorities.
Ministry of Finance, Department of Revenue, has issued Notification No. 44/2023, approving ‘University of Patanjali’ for conducting research in Social Science or Statistical Research under section 35 of the Income Tax Act.
Read Circular No. 13/2023 issued by the Commissioner of State Tax, Kerala, providing instructions for the maintenance of a Call Book in the Kerala State Goods & Services Tax Department. Learn about the purpose of the Call Book, cases to be included, transfer procedures, periodic review, and the attached format.
DGFT Notification No. 13/2023-DGFT amends export policy of items under HS Code 2610, specifically related to Chrome Ore. Understand the revised export policy and policy conditions for different categories.
Bombay High Court, the court held that a writ petition is not maintainable if filed purely on apprehension or proposed action.
