Finance : Explore the recent amendment to Section 43B of the Income Tax Act aimed at bolstering the financial well-being of MSMEs through ti...
Income Tax : Learn how recent tax code amendments (Section 43B(h)) impact businesses' deductions for Micro and Small Enterprise (MSE) payments....
Income Tax : Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand ...
Company Law : Explore the game-changing Companies (Listing of Equity Shares in Permissible Jurisdictions) Rules, 2024, paving the way for Indian...
Income Tax : Section 22 of the Income tax Act, 1961 is the charging section for head Income from House Property. As per this section, the asses...
Income Tax : Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May...
Income Tax : This is a new clause inserted by the Central Board of Direct Taxes through its Notification No. 36/2009 dated 13-4-2009, in the Fo...
Finance : Actor Emraan Hashmi, who was refused an NOC to buy a flat in Nibbana housing society at Pali Hill allegedly because he was a Musli...
Custom Duty : CESTAT Bangalore held that question of redetermination of value doesn’t arise since the impugned goods were replacement for good...
Corporate Law : Supreme Court held that washing and dry cleaning is covered within the meaning of ‘manufacturing process’ defined under sectio...
Income Tax : The plaintiff entity is a company engaged in the business of constructing and redeveloping immovable properties, either on a contr...
Goods and Services Tax : Bombay High Court held that Stressed Assets Stabilization Fund is a deemed dealer as per Explanation to section 2(8) of the Mahara...
Income Tax : ITAT Kolkata clarifies Section 14A disallowance limits, deletes notional income addition for unsold flats (AY 2014-15), and remand...
Corporate Law : Discover the latest MSME policy urging MSEs to include EM numbers on documents for better identification and compliance with incom...
Delhi High Court held that as discrepancies in sales figures as well as physical stock not explained, the assessing authority took a fair view in enhancing sales by 10% of net GTO after deducting the stock transfer figure of GTO. Accordingly, levy of tax with interest confirmed.
ITAT Delhi ruling: DCIT Vs Jah Developers Pvt. Ltd. ITAT deletes addition of notional rental income. Detailed analysis of the case and its implications.
ITAT Mumbai held that the assessee had furnished sufficient evidences to justify the genuineness of the payments and therefore their mere non-attendance of summons, cannot be reason enough to disbelieve the genuineness of the transactions with them. Accordingly, addition u/s. 69C deleted.
Himachal Pradesh High Court held that the Bank has first charge over the properties being secured creditor in priority over all Other Debts, Revenues, Taxes, Cesses and Other Rates payable to the Central or State Government or Legal Authority.
In present facts of the case, the revision petition was filed under section 21 of the Consumer Protection Act, 1986 which assails the order dated 05.05.2016 of the State Consumer Disputes Redressal Commission, Punjab, Chandigarh allowing the appeal and dismissing order dated 28.01.2013 of the District Consumer Disputes Redressal Forum, Bhatinda.
CESTAT Ahmedabad held that actual oil quantity physically received into the shore tank should be taken as the basis for payment of duty at the time of ex-bond bills of entry.
ITAT Mumbai held that damage on account of right to sue is a capital receipt and accordingly not chargeable to tax.
ITAT Mumbai held that invocation of provisions of section 263 of the Income Tax Act without satisfying the twin condition i.e. erroneous and prejudicial to the interest of revenue not satisfied. Hence, order passed u/s 263 set aside.
Patna High Court held that as Petitioner failed to furnish satisfactory explanation regarding huge fixed assets and cash available with him, bail application of the Petitioner is rejected.
ITAT Mumbai held that addition towards unexplained and undisclosed income sustained as assessee itself claim payment of cash in the civil suit and failed to explain the source of the cash payment.
