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Expenditure for Earning Exempt Income Inadmissible under Section 14A: SC

December 22, 2023 1062 Views 0 comment Print

Explore the Supreme Court judgment on PCIT Vs PNB Housing Finance. Learn why disallowance of expenditure for earning exempt income can’t be treated as business expenditure under Section 14A.

Reverse Repo transactions – Reporting in Form ‘A’ Return

December 22, 2023 1032 Views 0 comment Print

Stay informed with the latest RBI circular on reverse repo transactions. Learn about revised reporting requirements for bank transactions with non-banks. Read more.

CESTAT Dismisses Appeal Alleging Non-Adherence to CBEC Circular in Shipping Bill Conversion

December 22, 2023 450 Views 0 comment Print

CESTAT Chennai dismisses appeal by Principal Commissioner of Customs against Contemporary Leather Pvt. Ltd. Allegations of not following CBEC norms in shipping bill conversion examined in detail.

SC directs HC to rehearing due to lack of reasons in order & retirement of Presiding Judge

December 22, 2023 717 Views 0 comment Print

Manesh Dayashankar Madeka Vs ACIT: Supreme Court emphasized the need for a fresh hearing due to retirement of Presiding Judge and lack of reasons the previous disposition.

AO must explicitly mention grounds for imposing Section 271(1)(c) penalty

December 22, 2023 1221 Views 0 comment Print

Explore the Delhi High Court judgment on Penalty u/s 271(1)(c) of Income Tax Act for AY 2014-15. Detailed analysis and legal insights on inaccurate particulars. Read more.

Failure to Notify Form GSTR-2 Supports Petitioner’s Claim for Belated Returns

December 21, 2023 19992 Views 0 comment Print

Explore case of Tvl. Kavin HP Gas Gramin Vitrak vs Commissioner of Commercial Taxes. The petitioner’s belated GSTR-2 claims face challenges due to unnotified forms.

IFSCA Draft Guidelines on Solvency Margin of Life insurance business

December 21, 2023 852 Views 0 comment Print

Explore IFSCA’s proposed guidelines on assets, liabilities, and solvency for life insurance businesses in 2023. Provide your feedback by January 10, 2024.

Clarity on Minimum Value Addition for Spices in FTP 2023

December 21, 2023 1068 Views 0 comment Print

Get the latest update from DGFT on minimum value addition for spices under FTP 2023. Learn about Para 4.09 (v) and its implications for exporters and importers.

Customs Exchange Rates effective from 22nd December, 2023

December 21, 2023 3057 Views 0 comment Print

Stay informed with Customs Notification 93/2023. Updated exchange rates for foreign currencies, impacting imports and exports. Effective from 22nd December 2023.

Non-Compliance with Section 118(1) on Minutes Book Maintenance: MCA Imposes Penalty

December 21, 2023 3171 Views 0 comment Print

Explore the adjudication order by MCA imposing penalties on Sitaram Maharaj Sakhar Karkhana for violating Companies Act Section 118(1). Learn about the case, penalties, and implications.

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