Income Tax : Discover the key amendments in the Finance (No.2) Bill, 2024, affecting income tax reassessment procedures under the Income-tax Ac...
Income Tax : Understand Section 194S of the Income Tax Act, 1961. Learn about TDS on transfer of virtual digital assets (VDA), thresholds, tax ...
Corporate Law : In a landmark ruling, the Supreme Court clarified that an overt act by unlawful assembly members suffices for murder charges under...
Income Tax : Delve into the provisions of Income Tax Act Sections 153A & 153C, governing assessments after search or requisition. Learn from co...
Income Tax : Explore the intricacies of the time limits for issuing notices under Section 149 of the Income Tax Department with this article. F...
Income Tax : Learn about the new block assessment provisions for cases involving searches under section 132 and requisitions under section 132A...
Income Tax : Discover how Finance Act 2021 revamped assessment and reassessment procedures under Income-tax Act, impacting notices, time limits...
Income Tax : Delhi High Court held that in case of search, block period of ten years for search assessment, would not be attracted in case the ...
Income Tax : ITAT Delhi held that in respect of assessment proceedings u/s. 153C of the Income Tax Act, block period of six assessment years ha...
Income Tax : Read the detailed analysis of Karrm Infrastructure Pvt. Ltd. vs. CIT at ITAT Mumbai. Learn why ITAT ruled that non-filing of GST b...
Income Tax : Delhi High Court rules that reassessment actions post-2021 searches must meet the First Proviso to Section 149(1) of the Income Ta...
Income Tax : Bombay High Court deems CBDT's refusal to condone delay in filing revised ITR by CG Power post-NCLT order unreasonable. Detailed a...
Custom Duty : Learn how to file and process Bill of Entry amendments at Jawahar Lal Nehru Custom House. Get insights on self-approval and office...
Appellant’s conviction for the offence punishable under Section 302, read with Section 34 of IPC was set aside as there was no material to prove the existence of common intention which was the necessary ingredient of Section 34 of IPC.
Held that the importer is allowed to choose the more beneficial provision and cannot be forced to opt for / follow the non-beneficial provision. Accordingly, the goods in question Peas [Pisum Sativum] was present both in Sl No.20 and Sl No.20A of the basic Notification No.50/2017 Cus dated 30.6.2017 and hence assessee eligible to avail benefit of NIL rate of BCD.
In a case involving Anand Persad Jaiswal, ITAT Delhi ruled that interest income earned by a non-resident Indian (NRI) from a foreign bank is not taxable in India under section 5(2) of the Income Tax Act.
Madras High Court held that initiation of proceedings for reassessment under section 147 of the Income Tax Act based on material already on record and without new/ tangible information is bad-in-law and liable to be quashed.
Delhi High Court held that amendment of shipping bill u/s 149 of the Customs Act, 1962 allowed based on the documentary evidences which was in existence at the time the goods were exported.
Delhi High Court held that drawback benefit is duly available on export of gold dore bars on payment of only additional duty under section 3 of the Customs Tariff Act at the time of import.
Bombay High Court held that Para 3(a) of Circular No. 36/2010 Customs dated 23.09.2010 imposing time limits for amending shipping bills is ultra vires of Section 149 of the Customs Act, 1962.
ITAT Delhi held that the date of dispatch from the adjudicating officer is relevant for determining the limitation period. Accordingly, assessment order dispatched beyond time limit prescribed u/s. 153(1) is barred by limitation.
CESTAT Bangalore held that section 149 of the Customs Act, 1962 allows amendment of a Bill of Entry after the clearance of the goods only on the basis of documentary evidences which were in existence at the time the goods were cleared for home consumption. In absence of the same, the amendment is unjustified.
Analysis of the Shiv Charan Vs ITO case by ITAT Delhi, where a fresh adjudication was ordered on income tax addition u/s 68, focusing on procedural fairness.
