NSPIRA Management Services Private Limited Vs DCIT & ACIT (Telangana High Court) From a perusal of the impugned order dated 16.12.2022, it is seen that respondent No.1 had followed instructions of the Central Board of Direct Taxes (CBDT) dated 31.07.2017 to the effect that where outstanding demand is disputed before the appellate authority, the assessee […]
Definition of term `networth’ in SEBI (Issue and listing of Non-convertible securities) Regulations, 2021 is linked to one provided by Companies Act, 2013. Section 2(57) of Companies Act 2013, provides for calculation of networth.
Zapsell Retail Vs Commissioner State Goods And Services Tax (Delhi High Court) In Jain Manufacturing (India) Pvt. Ltd. v. The Commissioner Value Added Tax & Anr. (W.P.(C) 1358 of 2016 decided on 06.2016) this Court had held that C-forms cannot be cancelled retrospectively. Further, this Court has disposed of several writ petitions involving the similar […]
During investigation huge property have been seized which were disproportionate to her known source of income, although, she was housewife and no tax return was filed. It is submitted that the petitioner had several joint bank accounts with her husband Tapas Kumar Dutta, 45 mutual fund investment and number of LIC policies.
ITAT held that receipts from Satellite Transmission Services cannot be treated as royalty & not taxable at the hands of assessee in India
Kritija Construction Vs ITO (ITAT Pune) The issue in the present appeal relates to the taxability of difference of amounts shown in the Form No. 26AS and reflected in the Profit & Loss Account. It is an admitted fact that in the present case the appellant firm had received advance of Rs.38,88,745/- from one Siddhashila […]
In a series of cases booked last week, the Directorate of Revenue Intelligence (DRI) interdicted more than 21 kg of Heroin and more than 8 kg of Cocaine, together valued at more than Rs. 237 Crore.
CBDT notifies Notification No. 13/2023- Income Tax, Dated: 14.03.2023 to amend notification number S.O.1911(E) dated the 21st April, 2022 to replace the words Ariyalur & Kanniyakumari with the words Districts of Ariyalur & Districts of Kanniyakumari respectively. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) Notification No. 13/2023- Income Tax […]
For invoking Section 67 of the Act existence of reasons to believe to subject the premises to search and seize goods is mandated. Here, the authority is vacillating between Section 67 and 68; whether the goods are in transit or in the godown.
ITAT held that penalty u/s. 271(1)(c) on Bogus purchase addition cannot be levied where addition was made on estimated basis.
