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ITAT upholds denial of LTCG exemption on shares of Kappac Pharma Limited

February 11, 2024 1236 Views 0 comment Print

Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers.

SEBI Investigation of broker Alone Insufficient to Label Assessee’s LTCG as Bogus

February 11, 2024 900 Views 0 comment Print

Investigate the Income Tax Appellate Tribunal ruling in ITO vs. Indravadan Jain HUF & its implications for similar cases in the future. Assessing officer’s declarations on SEBI Investigation & LTCG of the assessee addressed.

LTCG from Penny Stock Cannot Be Deemed Bogus without Substantiated Allegations

February 11, 2024 2394 Views 0 comment Print

Taxpayers and professionals alike can learn from Ayushi Jain vs. Income Tax Officer (ITO): LTCG can’t be deemed bogus without substantiated allegations. Understand the intricate details of the ruling from ITAT in Kolkata.

ITAT Jaipur Ruling on Cash Deposit and Sale Consideration

February 10, 2024 2307 Views 0 comment Print

ITAT Jaipurs decision on reassessment and unexplained income in Geeta Devi Sharma vs ITO Ward 6(4) highlights key aspects of income tax law application.

Section 263 Jurisdiction cannot be exercised for additional inquiries

February 10, 2024 1839 Views 0 comment Print

ITAT Jaipur quashes PCIT’s revision under Section 263, upholding the AO’s decisions on sales promotion expenses after detailed inquiries.

Madras HC Rules on Bank’s Rights in Auctioned Property

February 10, 2024 1299 Views 1 comment Print

Madras High Court settles dispute over auctioned property rights, directing bank to relinquish claims after dues settlement.

Not Holding Board Meeting for Related Party Transaction: MCA Imposes Rs. 20 Lakh Penalty

February 9, 2024 3357 Views 0 comment Print

Kudos Finance faces Rs. 20 Lakh penalty from MCA for not holding board meeting to approve related party transaction, violating Section 188 of Companies Act.

Non filing of the Form AOC-4 NBFC – MCA Imposes Penalty

February 9, 2024 2799 Views 0 comment Print

Uncover the details of the penalty imposed on Kudos Finance & Investments Pvt. Ltd. by the ROC Pune under the Companies Act for non-compliance issues.

Reasons for reassessment must be specific, relevant & substantiated by tangible material

February 9, 2024 1836 Views 0 comment Print

In a landmark judgment, Jharkhand High Court quashes Income Tax Departments reassessment orders against Pasari Casting, upholding principles of natural justice.

Delay in Filing of MGT-4, MGT-5 & MGT-6: MCA Imposes Penalty of Rs. 1659200

February 9, 2024 4512 Views 0 comment Print

Discover the adjudication order imposing penalties of Rs. 16,59,200 on Kudos Finance And Investments Private Limited for delayed filing of MGT-4, MGT-5, and MGT-6 under Companies Act, 2013.

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