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TDS Deduction on donation Doesn’t Disqualify NGO from Sections 11 Exemption: Delhi HC

February 22, 2024 3675 Views 0 comment Print

Delhi High Court ruling: NGO retains tax exemptions under Sections 11 & 12 despite donor TDS deduction. Analysis & implications of Aroh Foundation case.

Delhi HC Sets Aside Order Due to GST SCN sent on wrong Email Address

February 22, 2024 1005 Views 0 comment Print

Delhi High Court sets aside an order due to wrong email communication regarding GST show cause notice. Learn about the implications and rectification process.

CIT’s Section 263 Jurisdiction on AO’s Failure to Initiate Penalty justified

February 22, 2024 2898 Views 0 comment Print

ITAT held that non-initiation of penalty proceedings under section 270A by the AO, in light of the addition made under the head ‘income from house property’, rendered the assessment order erroneous and prejudicial to the Revenue’s interest.

Commercial contract for purchase of NCDs is not ‘financial debt’: NCLT Mumbai

February 22, 2024 753 Views 0 comment Print

Understanding the recent NCLT Mumbai case between Edelweiss and Ajmera Realty. Find out the legal arguments, implications, and findings in this comprehensive article.

Lender Banks Required to Provide Audit Reports to Borrowers & Allow Representation Before Classifying Accounts as Fraud

February 22, 2024 1869 Views 0 comment Print

Lender Banks Required to Provide Audit Reports to Borrowers and Allow Representation Before Classifying Accounts as Fraud, Along with Issuing Reasoned Orders on Objections

Kerala HC refuses to intervene in Income Tax proceeding initiated under Section 148  

February 22, 2024 717 Views 0 comment Print

In a setback for St. John The Baptist Church, Kerala High Court refuses to intervene in proceedings initiated under Section 148 of Income Tax Act. Full analysis here.

Sec 149(1)(a) Limitation of 3 Years Inapplicable for Escaped Income Over Rs. 50 Lakhs

February 22, 2024 3846 Views 0 comment Print

Kerala High Court rules: Limitation period of 3 years under Section 149(1)(a) of Income Tax Act not applicable when income escaped assessment exceeds Rs.50 lakhs. Full judgment analysis here.

HC condones delay in invoking proviso to Rule 23 of CGST Rules

February 22, 2024 768 Views 0 comment Print

Orissa High Court condones delay in invoking proviso to Rule 23 of CGST Rules on payment of tax, penalty, and interest. Full judgment analysis here.

Assessee Can Claim TDS Deduction in Year Income is Reported for Tax

February 22, 2024 2253 Views 0 comment Print

ITAT Ahmedabad allows TDS deduction for Adroit Structural Engineers Pvt. Ltd. on income offered to tax, despite non-reflection in Form 26AS. Full judgment analysis here.

Cash deposit outside relevant assessment year cannot be considered for assessment

February 22, 2024 858 Views 0 comment Print

Discover the ITAT Hyderabad’s ruling on assessing cash deposits outside the relevant assessment year in the case of Rakesh Reddy Keshanna Vs ITO.

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