Tax Guru1h
GST Order passed against Deceased Person: HC declared proceedings as Non Est
In a recent ruling Hon’ble Madras HC set aside the order after observing that Demand Order and other notices including DRC-01 ...
Tax Guru1h
No proper opportunity before AO: ITAT remanded back the matter
Before ITAT was submitted that assessee was not provided with sufficient opportunity before AO to furnish the details. Considering the submission ITAT remanded back the matter to AO.
Tax Guru1h
Assessment issued in wrong name after entity’s merger could neither be corrected nor rectified by taking recourse to Section 292B
On perusal of the said order, it is seen that the order is passed by TPO on the name and PAN of M/s Cairn India Ltd. which in non­existence entity and the M/s Cairn India is now merged with the M/s ...
Tax Guru1h
Women accused in money laundering matter granted bail as no possibility of conclusion of trial in near future
Supreme Court granted bail to women who is accused in complaint filed u/s. 44 of the Prevention of Money Laundering Act, 2002 since there is no possibility of the trial concluding in near future.
Tax Guru1h
Addition u/s. 68 deleted as identity and creditworthiness of share capital established
ITAT Kolkata held that CIT (A) rightly deleted addition under section 68 of the Income Tax Act since identity and ...
Tax Guru1h
Surcharge not leviable when income is less than Rs. 50 Lakhs: ITAT Kolkata
ITAT Kolkata held that the surcharge is leviable only when the amount of income tax is computed where the total income exceeds Rs.50 lakhs. Here, surcharge is not leviable since income is less than Rs ...
Tax Guru1h
Undisclosed commission income @ 0.15% to be added on accommodation entries
ITAT Kolkata held that undisclosed commission income on accommodation entries to be added @0.15% instead of 1%. Accordingly, ...
Tax Guru2h
HC Allows Writ with Condition of 25% Tax Deposit for Non-Compliance with GST Notice
Madras High Court directed petitioner to deposit 25% of the disputed taxes for granting an opportunity of being heard since ...
Tax Guru2h
State Bank filed valid application u/s 95 against personal guarantor: NCLAT Delhi
Conclusion: Bank was justified in initiating insolvency proceedings against the personal guarantor by timely filing and proper authorization under section 95. Moreso, deed of guarantee was a ...
Tax Guru2h
GST Registration Revocation: HC directs petitioner to file returns, pay taxes, interest, penalties and fines
The court directed the petitioner to file GST returns, pay taxes, interest, penalties, and fines within four weeks to reinstate the GST registration. Furthermore, the jurisdictional officer was ...
Tax Guru2h
Demand order was set aside due to non-application of mind and non-consideration of assessee reply
10. In view of the lack of reasoning, non-consideration of the reply and non-application of mind in passing the impugned order dated 31st August, 2024, it is held that the impugned order is not ...
Tax Guru2h
ICAI Extends Phase III & IV of Peer Review Mandate
Peer Review Board The Institute of Chartered Accountants of India 22nd January, 2025 The Council has decided to extend Phase III and Phase IV of Peer Review Mandate by 6 months and 9 months ...