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Extended Limitation cannot be extended if SCN silent about Fraud or Misstatement

August 22, 2024 1317 Views 0 comment Print

The Calcutta High Court ruled on a delayed service tax appeal, dismissing a notice issued against Naresh Kumar & Co., questioning the validity under extended limitation.

ITAT allows Section 54EC exemption for investments before sale deed registration

August 22, 2024 1287 Views 0 comment Print

ITAT Ahmedabad rules in favor of Rahul G. Patel, granting exemption under Section 54EC for investments made in NHAI bonds before the sale deed registration.

Cash Accounting: TDS Credit Allowed in year the Income is Received & offered for taxation

August 22, 2024 1632 Views 0 comment Print

The ITAT Ahmedabad ruled on the disallowance of TDS credit to Theo Desh Consultants due to non-inclusion of corresponding income in the relevant assessment year.

ITAT directs AO to verify & grant TDS credit as per the income reflected in Form 26AS

August 22, 2024 1254 Views 0 comment Print

In Buhler India Pvt. Ltd. Vs DCIT, the ITAT Bangalore directed the Assessing Officer to verify and grant TDS credit as per the income reflected in Form 26AS.

New Dwelling Unit on First Floor of Existing House: ITAT Allows Section 54F Deduction

August 22, 2024 831 Views 0 comment Print

ITAT Chennai ruled in favor of Kethsial Justin, granting Section 54F deduction for constructing a new dwelling unit, overturning the AO’s and CIT(A)’s denial.

GST Act not prohibits intelligence officers from issuing SCNs or adjudicating cases 

August 22, 2024 1569 Views 0 comment Print

Madras High Court rules that intelligence officers under GST can issue show cause notices if they qualify as ‘proper officers’ under Section 2(91) of the GST Act.

Madras HC quashed GST order passed by State Tax Officer not having Authority to Pass order

August 22, 2024 1983 Views 0 comment Print

Madras High Court quashes assessment and rectification orders against Srinithi Enterprises, citing jurisdiction issues; directs Assistant Commissioner to review case.

State wise professional tax slab rates 2024-2025

August 22, 2024 117171 Views 3 comments Print

Explore professional tax slab rates for 2024-2025 across Indian states. Understand how your income determines the tax rate in Andhra Pradesh, Maharashtra, and more.

ITAT Jaipur Allows Section 80P Deduction on Interest Income

August 22, 2024 567 Views 0 comment Print

ITAT Jaipur rules in favor of Hitkari Vidyalaya Sahkari Shiksha Samiti Ltd, allowing 80P deduction on interest income from cooperative banks for AY 2017-18 & 2020-21.

2016 Amendment to Section 50C of Income Tax Act Applies Retrospectively: Madras HC

August 22, 2024 2361 Views 0 comment Print

The Madras High Court ruled that the 2016 amendment to Section 50C of the Income Tax Act applies retrospectively, impacting capital gains assessment for earlier years.

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