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ITAT Quashes Section 271(1)(c) Penalty Due to Unspecified Offense Notice

November 12, 2023 528 Views 0 comment Print

The ITAT Delhi cancels a penalty imposed on Mideast Integrated Steels Ltd. due to an unqualified offense notice. Learn about the case and its implications.

No Service Tax on Bank Guarantee to Group Companies: CESTAT

November 12, 2023 384 Views 0 comment Print

The CESTAT Chandigarh rules that providing a bank guarantee to group companies does not attract service tax. Learn more about this decision.

Income Tax Claim Extinguished Post NCLT Approval of resolution plan: Delhi HC

November 11, 2023 837 Views 0 comment Print

Delhi High Court ruling: Income tax claim extinguishes with National Company Law Tribunal’s (NCLT) approval of a resolution plan. Analysis and case details.

Delhi HC Quashes GST Registration Cancellation: Lack of Reason

November 11, 2023 663 Views 0 comment Print

The Delhi High Court sets aside a GST registration cancellation order that lacked a clear reason, highlighting a violation of natural justice.

Revised Guidelines for Withholding Refunds under Section 245(2) – Income-tax Act 1961

November 10, 2023 15048 Views 0 comment Print

Stay updated on the latest Instruction No. 02/2023 from the Ministry of Finance. Learn about revised timelines, monetary limits, and workflow for withholding refunds under Section 245(2) of the Income-tax Act, 1961

CENVAT Credit Allowed for Management Consultancy Services under Rule 6(5) of CCR

November 10, 2023 516 Views 0 comment Print

The CESTAT Ahmedabad rules in favor of Sabic Innovative Plastics India Pvt Ltd, allowing CENVAT credit for Management Consultancy Services and halting enforcement of demand notice.

ITAT Upholds Section 56(2)(viib) Addition for Excess Consideration on Share Allotment

November 10, 2023 822 Views 0 comment Print

ITAT Mumbai upholds addition in Osianama Learning Experience Pvt. Ltd. case under Section 56(2)(viib) of the Income Tax Act, related to excess consideration received on allotment of shares.

IT & Admin Services to Indian Affiliate by Singapore Entity Not FTS: Delhi HC

November 10, 2023 537 Views 0 comment Print

Delhi High Court rules on income tax and administrative services provided by a Singapore entity to its Indian affiliate. Analysis of the case Commissioner of Income Tax vs. Bio-Rad Laboratories.

PCIT Can’t Initiate Revision Based on document not forming part of Assessment

November 10, 2023 732 Views 0 comment Print

Learn about Visu Casement Pvt. Ltd. Vs PCIT (ITAT Ahmedabad) case. ITAT ruled PCIT can’t initiate proceedings based on non-participating documents, protecting taxpayers’ interests.

Empanelment Criteria Update: C&AG Audit Allotment Policy 2024-2025

November 10, 2023 4923 Views 0 comment Print

Stay informed about the Office of C&AG’s new audit criteria for Chartered Accountant firms/LLP in 2024-2025. Learn about location-based considerations and partner stationing

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