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Section 263 can be invoked if Assessment was completed without proper inquiry

June 13, 2023 990 Views 0 comment Print

A deep dive into the Kute Sons Dairys Ltd Vs PCIT case, highlighting implications of an assessment completed without proper inquiry and legal justifications for invoking revision u/s 263.

LED Socket Plug Assembly merit classification under Heading 8512: CAAR

June 12, 2023 1695 Views 0 comment Print

CAAR Mumbai rules ‘LED Socket Plug Assembly’ used in vehicle anti-fog lamps classifies under Heading 8512 90 00 of Customs Tariff Act, 1975, and is eligible for nil Basic Custom Duty under serial no. 656 of notification No. 69/2011-Cus., dated 29.7.2011, as per India-Japan Free Trade Agreement.

Refund of Service Tax cannot be denied to a person bearing the incidence of tax

June 12, 2023 879 Views 0 comment Print

CESTAT Delhi in case of Quality Builders & Contractor vs Commissioner of Central Excise, set a new precedent for service tax refund claims.

CESTAT Kolkata Directs Re-adjudication Over Denied Opportunity

June 12, 2023 714 Views 0 comment Print

Recent CESTAT Kolkata case, Lexmark International vs CGST & CX, highlighting significance of giving parties opportunity to present their cases and documents

Unusual Salary Disparity: HC directs ICAI to pass a reasoned & speaking order

June 12, 2023 1197 Views 0 comment Print

Landmark decision by Delhi High Court in the case of Alok Malhotra vs Institute Of Chartered Accountants Of India, addressing an anomaly in salary caused by an Accelerated Promotion Scheme.

Penalty u/s 271(1)(c) without opportunity to assist to Assessee – ITAT directs NFAC for fresh consideration

June 11, 2023 2298 Views 0 comment Print

Balwant Baburao Vitekar (Late) vs ITO (ITAT Pune) where the imposition of penalty under section 271(1)(c) was challenged. The appeal was allowed on the grounds that the assessee was not given the opportunity to assist in the penalty proceedings.

Penalty under Section 271(1)(c) Invalidated if Matter Restored for Rectification Order

June 11, 2023 1668 Views 0 comment Print

ITAT Delhi held that if a matter is restored to AO for passing a rectification order, the penalty imposed under Section 271(1)(c) of Income Tax Act does not survive. The appeal was filed by the assessee against the penalty order.

ITAT deletes notional LTCG addition for Jewellery short found during search

June 11, 2023 918 Views 0 comment Print

A comprehensive analysis of the ITAT Delhi’s recent ruling in the case of Ballabh Prasad Aggarwal Vs ACIT, involving income tax addition on supposed long-term capital gains from jewellery sale.

FAQs On E-Filing on MCA Portal – Your Complete Guide

June 10, 2023 12612 Views 0 comment Print

Get answers to frequently asked questions about e-filing on the MCA portal. Learn how to apply for a company name, validity period of name approval, minimum requirements for company formation, documents to be filed with RoC, prerequisites for e-filing, and more.

Execution of Warrants by MahaRERA: Circular No. 44/2023

June 9, 2023 3996 Views 0 comment Print

Read the procedural note regarding the execution of warrants issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA). Understand the legal framework, rules, and regulations for recovering interest, penalty, and compensation. Explore the importance of expedited compliance and the role of the Collectors in ensuring effective execution.

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