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Kerala HC Directs Avail Alternate Remedies: KGST Act Assessment

February 9, 2024 564 Views 0 comment Print

Kerala High Court directs Ochanthuruth Service Cooperative Bank Ltd. to avail appellate remedies against the assessment order under the KGST Act.

Assessment Order on Old PAN Appealable Despite New PAN allotment: Kerala HC

February 9, 2024 1731 Views 0 comment Print

Kerala High Court rules that an income tax assessment order passed on an old PAN is appealable even if a new PAN is issued, provided the old PAN is active.

Errors in selection of comparables: ITAT Delhi Remits Matter back to TPO/AO

February 9, 2024 942 Views 0 comment Print

In the case of American Express Services India Ltd. Vs DCIT, Delhi ITAT remits the matter for correct market segment selection, following earlier order. Full text of the ITAT Delhi order included.

No Penalty for Excessive Depreciation Claim Due to bona fide Mistake

February 9, 2024 2331 Views 0 comment Print

Mumbai ITAT quashes penalty in DCIT vs Sasan Power Ltd case, ruling that furnishing inaccurate expenditure claim does not constitute inaccurate particulars of income, citing bona fide mistake.

Company Failed to Appoint Internal Auditor: MCA imposes Penalty of Rs. 4.50 Lakh

February 9, 2024 831 Views 0 comment Print

Read the adjudication order on Kudos Finance & Investments Private Limited as MCA imposes a penalty of Rs. 4.50 lakh for violating Companies Act rules. Details on the penalty, violation, and appeal process

Mere allegations insufficient to disallow section 35-AC deduction: ITAT Mumbai

February 9, 2024 876 Views 0 comment Print

ITAT Mumbai decides on a case involving the disallowance of Section 35-AC deduction, emphasizing the importance of tangible evidence over mere allegations.

ITAT Mumbai restricts addition for Bogus purchases to 10% of disputed purchases

February 9, 2024 1668 Views 0 comment Print

Analysis of Leelaben Kantilal Parekh Vs ITO (ITAT Mumbai) case discussing the validity of a reopening notice under section 148 and addition under section 69C for bogus purchases.

Reassessment: Invalid if AO’s Belief Lacks Bona Fides, Is Vague and Arbitrary

February 9, 2024 882 Views 0 comment Print

Explore the Jharkhand High Court’s decision in Pasari Casting vs. Income Tax Department, addressing a critical tax reassessment issue. A detailed analysis inside.

Company filed Unsigned Attachment to Form AOC-4: MCA Imposes Penalty

February 9, 2024 5244 Views 0 comment Print

Explore the MCA adjudication order imposing penalties on Kudos Finance And Investments Private Limited for filing unsigned attachments to Form AOC-4, violating section 134(6) of the Companies Act, 2013.

Reassessment cannot be initiated based on insufficient, vague, or irrelevant materials

February 9, 2024 2010 Views 0 comment Print

Unveiling the Jharkhand High Court’s decision in Pasari Casting vs. IT Department, highlighting key aspects of tax law and principles of justice.

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