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Lack of cooperation from petitioner, HC upheld best judgment assessment order

December 14, 2023 408 Views 0 comment Print

Kerala High Court dismisses writ challenging income tax assessment by TDGSM Co-Op Society. Details on court’s decision, petitioner’s claims, and potential remedies explored.

Section 14A Disallowance Cannot Surpass Exempt Income: Delhi HC 

December 14, 2023 585 Views 0 comment Print

Understand the tax treatment of interest on loans for share purchase when income from shares is classified as business income. Analysis of the Delhi High Court’s ruling in PCIT Vs Devata Tradelink Ltd

Cooperative Society Exempt from GST for Solid Waste Management: Patna HC

December 14, 2023 534 Views 0 comment Print

Read about Patna High Court’s decision in Mahavir Sharmik case, granting relief to a cooperative society from BGST for solid waste management activities.

Issuance of cryptic SCN violates the principles of natural justice

December 14, 2023 1335 Views 0 comment Print

While issuing a cryptic show cause notice, the authorities had violated the principles of natural justice. As from the impugned order as well as the show cause notice, the reasons for cancellation of GST registration were not decipherable therefrom, therefore, the show cause notice and the impugned order were quashed and set aside.

Form-10 Supplied After Limitation but Before Assessment Completion Eligible for Section 11(2) Exemption Benefit

December 14, 2023 786 Views 0 comment Print

Form-10 under rule 17(2) for claiming exemption had been supplied to AO after the prescribed period but before completion of assessment, it ought to be considered by AO for granting benefit of exemption under Section 11(2) of the Income Tax Act, 1961 in original assessment proceedings. Accordingly, the entire process of reassessment that had been initiated by Department was without any legal basis whatsoever.

Senior Officers Expected to Exercise Due Diligence in Initiating Reassessment for Concluded Assessment.

December 14, 2023 609 Views 0 comment Print

Reopening of the concluded scrutiny assessment was a serious business, therefore, senior officers like ACIT and PCIT were expected to apply their minds to such requests and, only after that, approve the initiation of reassessment proceedings.

Kerala HC directs Customs Department to Process Refund in Explosive Material Case

December 14, 2023 414 Views 0 comment Print

Kerala High Court directs Customs to refund Rs.7,02,692 to petitioner and emphasizes destruction of seized explosive goods. Detailed analysis of the court’s interim order.

Delhi HC upholds deletion of additions for jewellery, paintings & wrist watches

December 14, 2023 768 Views 0 comment Print

Delhi High Court analyzes Tribunal’s decision in PCIT vs Nirmal Kumar Minda, upholding deletion of additions for jewellery, paintings, and wrist watches. Learn more.

HC Quashes Section 153A Proceedings: No Incriminating Material Found

December 14, 2023 789 Views 0 comment Print

Delhi High Court dismisses Section 153A proceedings in PCIT vs Oxygen Business Park case. Analysis of the impact on income tax assessments post-search. Learn more.

AO cannot initiate reassessment for appealed additions

December 14, 2023 741 Views 0 comment Print

Delhi High Court rules that AO cannot trigger reassessment proceedings against additions already appealed. Full analysis of PCIT vs. Gautam Bhalla case.

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