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SC dismisses SLP as Income Tax Amount is less than Rs. 2 crores

November 8, 2023 8739 Views 1 comment Print

The Supreme Court of India dismisses the SLP against tax recovery due to a low amount below Rs.2 crores, following CBDT Circular 17/2019.

Tax Right Income, in Right Hands, under Right Head, in Right Year: ITAT

November 8, 2023 774 Views 0 comment Print

Read the full text of the ITAT Delhi order in the case of Economical Credit & Construction Co. Pvt. Ltd vs. ITO regarding income from land sale tax dispute.

Section 220(2) Does Not Allow Department to Levy Interest on Already Paid Tax

November 8, 2023 4128 Views 0 comment Print

Read the Kerala High Court’s judgment on Section 220(2) of the Income Tax Act and its non-retrospective effect on tax interest in Catherine Thomas vs. Principal Chief Commissioner of Income Tax.

ITAT Kolkata: Penalty Deleted – AO Cannot Demand P&L for Section 44AD Income

November 8, 2023 1632 Views 0 comment Print

The ITAT Kolkata has deleted the penalty in Prem Kumar Goutam vs. DCIT, ruling that the AO cannot demand a Profit and Loss Account for Section 44AD income. Get the details.

High Courts must not deny interim relief citing alternative remedy: SC

November 8, 2023 996 Views 0 comment Print

Assets Care And Reconstruction Enterprises Limited Vs State of Maharashtra & Ors.: Supreme Court rules High Courts must not deny interim relief citing alternative remedy. Analysis and implications.

HC Directs Pursuit of Appellate Remedy in GST Registration Cancellation Case

November 8, 2023 555 Views 0 comment Print

Madras High Court’s ruling on cancellation of GST registration due to non-return filing. Learn about the case of Rakeshkumar vs. Assistant Commissioner (CT).

Profit cannot be estimated without rejecting books of Account

November 8, 2023 4095 Views 0 comment Print

In the case of Bulu Ghosh vs. ITO, the ITAT Kolkata ruled that profit cannot be estimated without rejecting books of account. Read the full text of the order here.

Lower TDS Rate Application Rejection Requires a Well-Reasoned Order: HC

November 8, 2023 1578 Views 0 comment Print

In a recent Delhi High Court ruling, it is established that rejecting a lower TDS rate application necessitates a well-reasoned order. Explore case of Shreyash Retail Private Ltd vs. DCIT TDS Circle.

RBI Includes Sovereign Green Bonds in Fully Accessible Route

November 8, 2023 1674 Views 0 comment Print

Explore the latest RBI circular on investment opportunities in Government Securities market. Learn about inclusion of Sovereign Green Bonds in the Fully Accessible Route

Supreme Court of India: Filling Judge Vacancies

November 7, 2023 942 Views 0 comment Print

Explore the Collegium’s recommendations for filling vacancies in the Supreme Court of India. Learn about the selection criteria and nominees.

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