Clipped from: https://taxguru.in/excise-duty/hc-quashes-scn-retrieval-matter-call-book-16-years.html IDCOL Ferro Chrome & Alloys Ltd Vs Commissioner Central Excise, Customs & Service Tax (Orissa High Court) Court is unable to find any valid explanation
Day: January 14, 2023
Alternative remedy is not an absolute bar if there is violation of natural justice
Clipped from: https://taxguru.in/goods-and-service-tax/alternative-remedy-absolute-bar-violation-natural-justice.html Mahendra Sponge and Power Limited Vs Assistant Commissioner State Tax (SGST) (Chhattisgarh High Court) The Hon’ble Chhattisgarh High Court in the matter of M/s
👍Economic data spreading cheer, jobs still a concern–Deccan Chronicle
Clipped from: https://www.deccanchronicle.com/opinion/dc-comment/130123/dc-edit-economic-data-spreading-cheer-jobs-still-a-concern.html Deccan Chronicle editorial analyases US and India data The country’s retail inflation eased to a one-year low of 5.72 per cent in December
The Google vs CCI slugfest and how it could impact Android users
Clipped from: https://indianexpress.com/article/explained/explained-sci-tech/the-google-vs-cci-slugfest-and-how-it-could-impact-android-users-8381476/ The CCI’s order “strikes a blow” at the efforts to accelerate digital adoption in the country, Google said, adding that the order against
*Nearly all of Beijing’s 22 mn population to get Covid by January-end: Study | Business Standard News
Clipped from: https://www.business-standard.com/article/international/nearly-all-of-beijing-s-22-mn-population-to-get-covid-by-january-end-study-123011400494_1.html About 92% of the people in China’s capital will have contracted Covid by the end of January, while 76% had already been infected
👍HDFC Bank’s Q3 net profit jumps 18.5% YoY on healthy interest income growth | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/hdfc-bank-s-q3-net-profit-jumps-18-5-yoy-on-healthy-interest-income-growth-123011400544_1.html Strong growth in net interest income boosts bottomline, provisions fall India’s largest private lender HDFC Bank on Saturday reported an 18.5 per cent year-on-year (YoY)
👍Budget 2023: Boosting credit, simplifying taxation for MSMEs must be govt’s top priority | The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/cafe-sme/msme-fin-budget-2023-boosting-credit-simplifying-taxation-for-msmes-must-be-govts-top-priority/2947079/ Credit and finance for MSMEs: The MSME industry, which has been the driving force of the Indian economy, has entered into the new
👍S. 40A(3) of Income Tax Act cannot be Invoked When No Single Transaction Exceeds Rs. 20,000: ITAT
Clipped from: https://www.taxscan.in/s-40a3-of-income-tax-act-cannot-be-invoked-when-no-single-transaction-exceeds-rs-20000-itat/245269/ The Income Tax Appellate Tribunal (ITAT), Kolkata ruled that the provisions of section 40A(3) of the Income Tax Act, 1961 cannot be attracted when there is not
Re-Assessment cannot be based on “Reason to Suspect”: ITAT
Clipped from: https://www.taxscan.in/re-assessment-cannot-be-based-on-reason-to-suspect-itat-read-order/245245/ The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) held that the re-assessment under sections 147/148 of the Income Tax Act, 1961 shall be based on
🙏Co-op societies engaged in banking business eligible for section 80P deduction on interest income on bank deposits*
Clipped from: https://taxguru.in/income-tax/co-op-societies-engaged-banking-business-eligible-section-80p-deduction-interest-income-bank-deposits.html M.P. Police Sakh Sahkari Sanstha Maryadit Vs PCIT (ITAT Indore) Co-operative societies engaged in banking business are eligible for deduction u/s. 80P on
Invocation of section 147 untenable in absence of new/ fresh material indicating escapement of income***
Clipped from: https://taxguru.in/income-tax/invocation-section-147-untenable-absence-new-fresh-material-indicating-escapement-income.html Global Arkitekts P. Ltd. Vs ITO (ITAT Chennai) ITAT Chennai held that AO having chosen not to scrutinize the return cannot resort to
Adjustment of incorrect claim apparent from any information in return is permissible u/s 143(1)
Clipped from: https://taxguru.in/income-tax/adjustment-incorrect-claim-apparent-information-return-permissible-u-s-143-1.html Sree Gokulam Chit and Finance Co. P. Ltd. Vs DCIT (ITAT Chennai) ITAT Chennai held that post amendment w.e.f. 01.04.2008, the scope of
BT Banking & Economy summit: ‘High for long’ could be the interest rate story globally, says RBI Guv Shaktikanta Das – BusinessToday*
Clipped from: https://www.businesstoday.in/industry/banks/story/bt-banking-economy-summit-high-for-long-could-be-the-interest-rate-story-globally-says-rbi-governor-360209-2023-01-13 RBI Governor, Shaktikanta Das expresseed concern over core inflation, opines that there is a need to be vigilant. ‘High for long’ could be
ICICI Bank wins ‘Bank of the Year’ at 27th edition of BT-KPMG Best Banks & Fintechs Awards – BusinessToday
Clipped from: https://www.businesstoday.in/industry/banks/story/icici-bank-wins-bank-of-the-year-at-27th-edition-of-bt-kpmg-best-banks-fintechs-awards-360231-2023-01-13 BT Banking Summit: Thirteen winners were awarded by Union Minister for Road Transport and Highways Nitin Gadkari, National Bank for Infrastructure Financing and
🙏‘Crypto is just gambling’: RBI Governor Shaktikanta Das seeks ban on cryptocurrencies – BusinessToday***
Clipped from: https://www.businesstoday.in/industry/banks/story/crypto-trading-is-just-gambling-rbi-governor-shaktikanta-das-seeks-ban-on-cryptocurrencies-360210-2023-01-13 Explaining further about the reason behind the crypto ban, Das, speaking at the BT Banking & Economy summit, said that besides the commonly
🙏New economic theory being written where inflation, interest rates don’t go hand in hand, says banking veteran K.V. Kamath – BusinessToday*****
Clipped from: https://www.businesstoday.in/industry/banks/story/bt-banking-economy-summit-new-economic-theory-being-written-where-inflation-interest-rates-dont-go-hand-in-hand-says-banking-veteran-kv-kamath-360194-2023-01-13 “We’re entering a very different territory defined by technology and our country’s ability to leverage that technology,” K.V. Kamath, Chairperson, National Bank for
Simple, yet important | The Financial Express*****
Clipped from: https://www.financialexpress.com/opinion/simple-yet-important/2947757/ Don’t expect Budget FY24 to deliver anything dramatic, but watch out for the signalling it will provide The existence of high inflation through
Interest rates may stay higher for longer: Das | The Financial Express
Clipped from: https://www.financialexpress.com/economy/interest-rates-may-stay-higher-for-longer-das/2947820/ The governor noted that core inflation in India remains an area of concern. “Including India I will not say…India is part of the
Raw material security must to make paper industry competitive: IPMA – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/raw-material-security-must-to-make-paper-industry-competitive-ipma/article66373653.ece The paper industry is expected to witness demand growth in sync with the projected economic growth, says AS Mehta AS Mehta, outgoing President
TCS Q3 Results: Offers enough for both the bulls and bears in the IT slugfest – The Hindu BusinessLine***
Clipped from: https://www.thehindubusinessline.com/portfolio/stock-fundamental-analysis-india/tcs-q3-offers-enough-for-both-the-bulls-and-bears-in-the-it-slugfest/article66357860.ece Investors can continue to avoid the stock for now The results, although a little mixed, was slightly ahead of expectations at an overall
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