Clipped from: https://www.thehindubusinessline.com/specials/pulse/managing-bottomlines-without-losing-sight-of-patient-needs/article66346814.ece Recent acquisitions are raising concerns on public health priorities of financial institutions As the industry balances its act between an evolving Covid-19 situation
Month: January 2023
State Bank is changing its business model, quietly | Business Standard Column*****
lipped from: https://www.business-standard.com/article/opinion/state-bank-changing-its-business-model-quietly-123010800429_1.html Going beyond corporate loans, SBI is getting into vendor financing as well as supply chain and cluster financing, the buzzwords of banking these
Buyer is liable if builder fails to pay his EMI | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/subvention-scheme-doesn-t-absolve-buyer-from-repaying-123010800430_1.html The National Commission observed that the loan agreement entitled the bank to recover the EMI from the purchaser if the builder failed to
Fiscal focus | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/fiscal-focus-123010800720_1.html Govt must aim for faster consolidation The National Statistical Office last week released the first advance estimates of national income for the ongoing
Budget should avoid subsidies and protection to biz | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/budget-should-avoid-subsidies-and-protection-to-biz-123010800765_1.html Subsidies and tax concessions are not the best ways to boost our production and exports in the medium and long term One of
Economists peg India’s FY24 growth at 6% after advance estimates | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/after-fy23-first-advance-estimates-economists-see-6-growth-in-fy24-123010800621_1.html Say expectations of easing inflation levels, good rabi output will be supportive of domestic demand Following the FY23 gross domestic product (GDP) advance
Price growth drove India’s pharmaceutical sales in 2022, shows data | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/price-growth-drove-pharma-sales-in-2022-dolo-saw-value-volume-growth-fall-123010800490_1.html Data shows that in calendar year 2022, price driven growth rate has been 6 per cent; growth from new products has been 1.7
We fell short, Air India should have acted swiftly: Chandra on ‘pee-gate’ | Business Standard News*******
lipped from: https://www.business-standard.com/article/companies/fell-short-matter-of-personal-anguish-tata-boss-on-air-india-pee-gate-123010800416_1.html “We regret and are pained about these experiences,” Wilson said, adding that the airline was reviewing its policy on serving alcohol Air India’s
Indian taxpayers: Budget has to fix Indian taxpayers’ nagging dispute management issue for real – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/budget-has-to-fix-indian-taxpayers-nagging-dispute-management-issue-for-real/articleshow/96808764.cms Synopsis Union Budget 2023: The multiple initiatives announced clearly reflect the government’s intent to address the malaise. However, on-the-ground experience shows that the
Reopening of assessment without valid reason is bad in law
Clipped from: https://taxguru.in/income-tax/reopening-assessment-valid-reason-bad-law.html Amin Badruddin Keshwani Vs CIT (ITAT Mumbai) ITAT Mumbai held that reopening of assessment without valid reason or intangible material, merely on the
Claiming exemption under wrong section is rectifiable u/s 154 of the Income Tax Act
Clipped from: https://taxguru.in/income-tax/claiming-exemption-wrong-section-rectifiable-u-s-154-income-tax-act.html University of Burdwan C/o S. N. Ghosh & Associates Vs ACIT (ITAT Kolkata) ITAT Kolkata held that inadvertent mistake of claiming exemption under
Taxation of Gifts: An In Depth Analysis
Clipped from: https://taxguru.in/income-tax/taxation-gifts-depth-analysis.html In India, gifts are not just out of natural love and affection but also carry cultural aspects that our generations have followed. At
Section 54/54F exemption – Flat Booking Vs. Possession
Clipped from: https://taxguru.in/income-tax/section-54-54f-exemption-flat-booking-vs-possession.html Pradeep Kumar Sonthalia Vs DCIT (ITAT Kolkata) The assessee has claimed exemption under section 54 and 54F of the Income Tax Act. Such
RCM applicability on Residential dwelling under GST*****
Clipped from: https://taxguru.in/goods-and-service-tax/rcm-applicability-residential-dwelling-gst.html As per Notification No. 05/2022- Central Tax (Rate) Dated: 13th July, 2022 issued by GST council which has came into effect from 18th July, 2022,
Interest earned by co-operative society out of investment with co-operative bank is deductible u/s 80P(2)(d)
Clipped from: https://taxguru.in/income-tax/interest-earned-co-operative-society-out-investment-co-operative-bank-deductible-u-s-80p2d.html Jal Ratan Deep Co-operative Housing Society Ltd Vs ITO (ITAT Mumbai) ITAT Mumbai held that interest income earned by co-operative society on its
Capital Gains derived from Sale of Property set off under current year Business Loss: ITAT upholds Disallowance of Loss on account of write-offInventory of Cotton*
Clipped from: https://www.taxscan.in/capital-gains-derived-from-sale-of-property-set-off-under-current-year-business-loss-itat-upholds-disallowance-of-loss-on-account-of-write-off-inventory-of-cotton/236732/ The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the disallowance of loss on account of write-off inventory of cotton whenthe capital gains derived
Ex-parte orders violates principles of natural justice & entails civil consequences
Clipped from: https://taxguru.in/goods-and-service-tax/ex-parte-orders-violates-principles-natural-justice-entails-civil-consequences.html National Co-operative Consumer Federation of India Limited Vs State of Bihar (Patna High Court) The Hon’ble Patna High Court in National Co-operative Consumer Federation
Capital Gain Tax on Sale of Inherited Property
lipped from: https://taxguru.in/income-tax/capital-gain-tax-sale-inherited-property.html 1 Immovable property received under a will or by way of inheritance does not have any tax liability. [Proviso to Sec 56(x)(b)]. A
GST on rent of the residential and commercial property
lipped from: https://taxguru.in/goods-and-service-tax/gst-rent-residential-commercial-property.html From the Goods and Services Tax (GST) perspective, renting of residential and commercial property is treated as a ‘supply of service’. The present
Failure to consider reply to SCN and Document produced: Bombay HC quashes demand of Service Tax
Clipped from: https://www.taxscan.in/failure-to-consider-reply-to-scn-and-document-produced-bombay-hc-quashes-demand-of-service-tax/235501/ The Bombay High Court at Goa, quashed demand of service tax on failure to consider reply to Show Cause Notice (SCN) and document
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