The ITAT Ahmedabad dismissed rectification orders passed under Section 154 of the Income Tax Act, upholding the setting off of business loss against property income and income from other sources.
In a recent case, CESTAT Delhi ruled that imported earphones are not considered parts of cellular mobile phones and qualify as accessories, allowing them customs duty exemption.
ONDC aims to democratize digital commerce, lower entry barriers, encourage new business models, and ensure inclusive growth in India’s e-commerce sector.
India’s IPR Policy Management framework encompasses eight types of intellectual property rights and ensures streamlined application and protection processes.
India’s Ministry of Labour and Employment has declared an 8.15% interest rate for Employees’ Provident Fund (EPF) accounts for the year 2022-23.
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The Delhi High Court recently dealt with two writ petitions (W.P.(C) 6061/2023 and W.P.(C) 6062/2023) concerning Assessment Year (AY) 2016-17. The issue raised in these petitions was similar to the one in another case titled “Harvinder Singh (HUF) v. Principal Commissioner of Income Tax & Anr.
Gemini Overseas Limited filed a writ petition challenging the order passed under Section 148A(d) of the Income Tax Act, 1961, for the assessment year 2019-20. The petitioner contended that the order was passed without approval from the “Specified Authority” as required under Section 151(ii) of the Income Tax Act, 1961.
Court ruled that the funds in the Term Deposit Accounts were the income of the Government of India and exempt from TDS under Section 196 of the Act. Moreover, the JKSRRDA, being wholly financed by the Central Government, was also eligible for exemption under Notification No. 3489 dated 22.10.1970, despite not being registered under the Central Societies Registration Act.
ICSI has decided to launch the UDIN Amnesty Scheme, 2023 effective from July 21, 2023 to July 31, 2023 with a view to facilitate the Members.
