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AO cannot disallow Long term capital loss on mere suspicion: ITAT allows Loss on Sale of Shares

November 30, 2023 459 Views 0 comment Print

In a recent decision by the Income Tax Appellate Tribunal (ITAT) Delhi in the case of Paramjit Gandhi vs. DCIT, the Tribunal addressed the disallowance of long-term capital loss on the sale of shares by the Assessing Officer (AO).

Section 50C Addition Cannot be Made by CPC Under Section 143(1)

November 30, 2023 6456 Views 0 comment Print

Prabha Anil Gandhi vs. ADIT (ITAT Mumbai): ITAT rules on CPC’s jurisdiction, Section 50C adjustments, and processing under section 143(1).

No Sales Suppression Addition Solely Based on Abstract Textile Data

November 30, 2023 240 Views 0 comment Print

Explore the ITAT Chennai ruling on DCIT Vs Arumuga Cottspin Pvt. Ltd. for AY 2015-16. Analysis of interest disallowance, sales suppression, and unexplained cash credits

MCA Imposes Penalties for Auditors Report Comments Failure

November 30, 2023 20367 Views 0 comment Print

Discover the consequences as MCA penalizes Vattikutti Technologies and its directors for failing to provide comments on Auditors Report. Get insights on the adjudication process and penalties imposed.

BSE Notice: SEBI Circular on Corporate Grouping for Listed Companies

November 30, 2023 2208 Views 0 comment Print

Explore the SEBI circular’s impact on Bombay Stock Exchange listed companies’ corporate grouping. Learn the criteria, repository details, and compliance requirements for effective disclosure.

CESTAT Chandigarh Quashes Excise Duty Demand on Panacea Biotec Ltd. for Hemophilus Vaccine

November 30, 2023 216 Views 0 comment Print

Analysis of CESTAT Chandigarh’s order in Panacea Biotec Ltd. vs Commissioner, quashing excise duty demand on Hemophilus Vaccine due to absence of real manufacturer.

HC dismisses appeal for inclusion of Statutory Income Tax dues in already approved Resolution Plan 

November 30, 2023 324 Views 0 comment Print

Delhi HC dismisses AY 2008-09 appeal; Resolution Plan lacks provision for statutory dues. Explore the court’s decision on the maintainability of the appeal.

Gauhati HC to decide on validity of CGST Section 73 SCN when order u/s 65(6) already been passed

November 30, 2023 1068 Views 0 comment Print

Gauhati HC to rule on the validity of CGST Section 73 SCN when an order under 65(6) is already issued. Stay informed about this crucial tax jurisdiction case.”

Issue and Transfer of Share in non-dematerialised form: MCA Imposes Penalty

November 30, 2023 17577 Views 0 comment Print

Learn about the penalty imposed by MCA on Vridhi Finserve for violating Rules 9A(1)(a) and 9A(3)(a) related to the issue and transfer of shares in non-dematerialised form. Get insights into the case and the penalties imposed.

Income Tax Insight Portal functionalities FAQs

November 29, 2023 4158 Views 0 comment Print

Explore FAQs on Insight Portal functionalities, including Profile Views, I-Search, Verification, Faceless Assessment, and Business Intelligence. Enhance your user experience now!

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