https://taxguru.in/company-law/50th-gst-council-meetings-15-major-decisions.html Clipped from: https://taxguru.in/company-law/50th-gst-council-meetings-15-major-decisions.html The 50th Meeting of the GST Council was held on 11th July 2023 in New Delhi, under the chairpersonship of the Union
Month: July 2023
Order cancelling GST registration passed without assigning reason is non-speaking order
https://taxguru.in/goods-and-service-tax/order-cancelling-gst-registration-passed-assigning-reason-non-speaking-order.html Clipped from: https://taxguru.in/goods-and-service-tax/order-cancelling-gst-registration-passed-assigning-reason-non-speaking-order.html Om Trading Vs State of Gujarat (Gujarat High Court) Gujarat High Court held that order for cancellation of registration passed without assigning
👍👍👍👍👍Ex-parte order passed without considering submission is non-speaking order
https://taxguru.in/income-tax/ex-parte-order-passed-submission-non-speaking-order.html Clipped from: https://taxguru.in/income-tax/ex-parte-order-passed-submission-non-speaking-order.html Leela Devi Jain Vs ITO (ITAT Jaipur) ITAT Jaipur held that ex-parte order passed without considering and dealing with the submission of
👍👍👍👍👍The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) held that the income earned by the co-operative society is eligible for deduction under Section 80P(2)(a)(i) of the Income Tax Act, 1961.
Clipped from: https://www.taxscan.in/income-earned-by-co-operative-society-is-eligible-for-deduction-u-s-80p2ai-of-income-tax-act-itat/298355/ Income Earned by Co-operative Society is eligible for Deduction u/s 80P(2)(a)(i) of Income Tax Act: ITAT [Read Order] The Kolkata bench Section 80P(2)(a)(i) of the Income
Addition due to mismatch in 26AS and in books of account unsustained as difference duly explained
https://taxguru.in/income-tax/addition-due-mismatch-26as-books-account-unsustained-difference-duly-explained.html Clipped from: https://taxguru.in/income-tax/addition-due-mismatch-26as-books-account-unsustained-difference-duly-explained.html DCIT Vs Connect Residuary Pvt Ltd (ITAT Mumbai) ITAT Mumbai held that addition on account of mismatch between the income reported under
Capital Goods imported under Zero Duty EPCG Scheme is Eligible for Exemption : CESTAT Dismisses Appeal of Revenue
Clipped from: https://www.taxscan.in/capital-goods-imported-under-zero-duty-epcg-scheme-is-eligible-for-exemption-cestat-dismisses-appeal-of-revenue/299823/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Capital%20Goods%20imported%20under%20Zero%20Duty%20EPCG%20Scheme%20is%20Eligible%20for%20Exemption%20:%20CESTAT%20Dismisses%20Appeal%20of%20Revenue The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) dismissed the appeal filed by the revenue on the ground of imported capital goods
Revisionary Powers u/s 263 of Income Tax Act not prevails if AO Conducts Inquiry and Verification during Assessment: ITAT quashes Revision Order
Read More: https://www.taxscan.in/revisionary-powers-u-s-263-of-income-tax-act-not-prevails-if-ao-conducts-inquiry-and-verification-during-assessment-itat-quashes-revision-order-read-order/299162/ Clipped from: https://www.taxscan.in/revisionary-powers-u-s-263-of-income-tax-act-not-prevails-if-ao-conducts-inquiry-and-verification-during-assessment-itat-quashes-revision-order-read-order/299162/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Revisionary%20Powers%20u/s%20263%20of%20Income%20Tax%20Act%20not%20prevails%20if%20AO%20Conducts%20Inquiry%20and%20Verification%20during%20Assessment:%20ITAT%20quashes%20Revision%20Order The Pune Bench of Income Tax Appellate Tribunal has quashed the revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the
Rent Paid to Wife Eligible for HRA Deduction u/s 10(13A) of Income Tax Act: ITAT
Read More: https://www.taxscan.in/rent-paid-to-wife-eligible-for-hra-deduction-u-s-1013a-of-income-tax-act-itat/300201/ Clipped from: https://www.taxscan.in/rent-paid-to-wife-eligible-for-hra-deduction-u-s-1013a-of-income-tax-act-itat/300201/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Rent%20Paid%20to%20Wife%20Eligible%20for%20HRA%20Deduction%20u/s%2010(13A)%20of%20Income%20Tax%20Act:%20ITAT In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the rental amount paid to wife is eligible for HRA
Depreciation Allowable only on Fixed Assets not used for Commercial Purpose: ITAT
Clipped from: https://www.taxscan.in/depreciation-allowable-only-on-fixed-assets-not-used-for-commercial-purpose-itat/299193/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Depreciation%20Allowable%20only%20on%20Fixed%20Assets%20not%20used%20for%20Commercial%20Purpose:%20ITAT The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that depreciation is allowable only on fixed assets not used for commercial purpose. The
Modi’s push to take Indian rupee global gets off to a slow start
Modi’s push to take Indian rupee global gets off to a slow start https://economictimes.indiatimes.com/news/india/modis-push-to-take-indian-rupee-global-gets-off-to-a-slow-start/articleshow/101557344.cms Download Economic Times App to stay updated with Business News –
🙏Google Play Games for PC beta launches in India, 60 other countries
https://www.business-standard.com/companies/news/google-play-games-for-pc-beta-launches-in-india-60-other-countries-123071400503_1.html Clipped from: https://www.business-standard.com/companies/news/google-play-games-for-pc-beta-launches-in-india-60-other-countries-123071400503_1.html App now available in over 120 regions; users in India can access it in English and Hindi; game libraries are synced across
🙏Exports see sharpest decline in 3 years; trade deficit narrows to $20.1 bn
https://www.business-standard.com/economy/news/exports-at-eight-month-low-in-june-at-22-imports-down-17-govt-data-123071400748_1.html Clipped from: https://www.business-standard.com/economy/news/exports-at-eight-month-low-in-june-at-22-imports-down-17-govt-data-123071400748_1.html Merchandise exports witnessed contraction in 21 of the 30 key sectors in June Listen to This Article India’s merchandise exports in June
Data Protection Bill: Sweeping power to govt may dilute user protection, say experts – The Hindu BusinessLine
https://www.thehindubusinessline.com/info-tech/data-protection-bill-sweeping-power-to-govt-may-dilute-user-protection-say-experts/article67076205.ece lipped from: https://www.thehindubusinessline.com/info-tech/data-protection-bill-sweeping-power-to-govt-may-dilute-user-protection-say-experts/article67076205.ece The revised version of the data protection bill, which is doing the rounds amongst industry stakeholders, is continuing to provide exemptions to
Factory inflation slide further in June, reached 8 years low of (-)4.12% – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/factory-inflation-slide-further-in-june-reached-8-years-low-of-412/article67079427.ece Clipped from: https://www.thehindubusinessline.com/economy/factory-inflation-slide-further-in-june-reached-8-years-low-of-412/article67079427.ece Fall in prices of food products pushes factory inflation to eight-year low Factory inflation based on Wholesale Price Index (WPI) slipped further
🙏Exports fall 22 per cent to $33 billion in June – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/exports-fall-22-per-cent-in-june-to-3297-bn/article67079513.ece?cx_testId=28&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EX5KXF1FQK61#cxrecs_s Imports fall 17.5 per cent to $53 billion; trade deficit declines to $20 billion Exports of goods from India declined for the fifth consecutive
Simply Put: Share Capital Reduction – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-share-capital-reduction/article67079647.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-share-capital-reduction/article67079647.ece Similar to buybacks but higher taxation and lower elbow room for price discovery Two colleagues discuss the recent news on share capital
Three pitfalls insurance buyers should avoid – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/three-pitfalls-insurance-buyers-should-avoid/article67076094.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/three-pitfalls-insurance-buyers-should-avoid/article67076094.ece A recent Policybazaar.com survey carries lessons for policyholders, current and potential Policybazaar.com recently released an insurance consumer insights report based on a survey of
Big shortfalls in pulses acreage need watching – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/big-shortfalls-in-pulses-acreage-need-watching/article67081022.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/big-shortfalls-in-pulses-acreage-need-watching/article67081022.ece Chana and moong acreage has seen improvements, but tur and urad acreage has been lagging While tomatoes have been hogging the headlines,
🙏Start-up to SHE enterprise
https://www.business-standard.com/opinion/columns/start-up-to-she-enterprise-123071401111_1.html Clipped from: https://www.business-standard.com/opinion/columns/start-up-to-she-enterprise-123071401111_1.html Over more than 100 years, we have experienced the social-economy benefits brought by the early 20th-century founders of sustained, humane, and enlightened
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