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ITAT Kolkata deletes addition of Rs. 3 Crore of share capital & share premium

January 10, 2024 3285 Views 0 comment Print

In-depth analysis of ITAT Kolkata order on Income Tax Department’s misuse of Section 68 powers. Dismissal of appeal for unexplained cash credit of Rs.3 Cr.

Denial of 80IA Benefit in 4th Year Unjustified: Delhi HC

January 10, 2024 924 Views 0 comment Print

Delhi High Court ruling on Income Tax: Department’s U-turn on 80IA deduction in the 4th year deemed unjustified. Case analysis of PCIT vs. BT Global Communications India Pvt. Ltd.

Reopening Completed Assessment Requires Incriminating Material under IT Act Section 132

January 10, 2024 1212 Views 0 comment Print

Delhi High Court rules assessment can be reopened only with incriminating material found during Section 132 search. Details on Shyam Sunder Jindal vs ACIT case.

CESTAT Chennai Reduces Fine in Kiwi Fruit Re-export Delay Case

January 10, 2024 570 Views 0 comment Print

Huge loss as Kiwi fruit re-export order delayed; CESTAT Chennai reduces redemption fine in Ram Prasath vs Commissioner of Customs case. Full text of CESTAT Chennai order.

Delhi HC Orders Income Tax Commissioner to Accept BCI’s Form No. 10

January 10, 2024 927 Views 0 comment Print

Read the detailed analysis of Bar Council of India vs CIT case by Delhi High Court. Learn how the court directed the acceptance of Form 10 after condoning the delay.

Retrospective GST Registration Cancellation invalid if order not specify reasons for such cancellation: Delhi HC

January 10, 2024 3357 Views 0 comment Print

Read the Delhi High Court verdict on Shree Ram Metal vs Commissioner of Delhi Goods and Services Tax Act, highlighting the importance of reasoned decisions in GST registration cancellations.

NCLAT Cannot Direct NCLT to Admit IBC Petition Without Merit Evaluation: SC

January 10, 2024 1029 Views 0 comment Print

Explore the Maneesh Pharmaceuticals Ltd vs. Export Import Bank case. Supreme Court emphasizes NCLT evaluation on merits before admitting Section 7 petition under IBC.

No Penalty for Typo in E-Way Bill Without Intent to Evade Tax: Allahabad HC

January 10, 2024 6258 Views 0 comment Print

Allahabad High Court rules: E-Way bill typo not penalized if no tax evasion intent. Case analysis of Hindustan Herbal Cosmetics vs. State of U.P. and Others.

HC directs AO to revise penalty orders in light of  fresh/revised assessment orders

January 10, 2024 813 Views 0 comment Print

Kerala High Court orders revision of penalty after fresh assessment in P.M. Abdul Nazeer vs ACIT case. Details of the judgment and its implications.

GST Registration Cannot be Cancelled for Continuous Nil Returns Beyond 6 Months

January 10, 2024 34533 Views 0 comment Print

Explore the Kali Shankar Enterprises vs Additional Commissioner case. Andhra Pradesh High Court rules GST cancellation cannot be based on filing nil returns for over six months. Full judgment included.

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