https://taxguru.in/excise-duty/invocation-extended-period-limitation-absence-intention-evade-duty-unsustainable.html Clipped from: https://taxguru.in/excise-duty/invocation-extended-period-limitation-absence-intention-evade-duty-unsustainable.html Pawan Kumar Sharma Vs Commissioner (Meghalaya High Court) Meghalaya High Court held that extended period of limitation as per proviso to section
Month: July 2023
Assessment Order passed in Violation of Natural Justice Principle: ITAT remands Matter to CIT(A)
Clipped from: https://www.taxscan.in/assessment-order-passed-in-violation-of-natural-justice-principle-itat-remands-matter-to-cita/302340/ The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the appeal of an assessee and remanded the matter back to the Commissioner
Insurance Query: Choosing a Suitable Health Cover – The Hindu BusinessLine
https://www.thehindubusinessline.com/portfolio/personal-finance/insurance-query-choosing-a-suitable-health-cover/article67105465.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/insurance-query-choosing-a-suitable-health-cover/article67105465.ece Diabetes/cardiac conditions can deliver an unexpected financial blow if one is not covered I am planning to buy health insurance for my
Read: Your queries: Income Tax; Tax on capital gain is payable as per date of transfer
https://www.financialexpress.com/money/income-tax/your-queries-income-tax-tax-on-capital-gain-is-payable-as-per-date-of-transfer/3182163/ Shared by Financial Express android app. Click here to download https://financialexpress.page.link/fe_app
👍👍👍👍👍Reopening of assessment u/s 148 for mere change of opinion is unsustainable
https://taxguru.in/income-tax/re-opening-assessment-u-s-148-mere-change-opinion-unsustainable.html Clipped from: https://taxguru.in/income-tax/re-opening-assessment-u-s-148-mere-change-opinion-unsustainable.html Mukand Limited Vs Union of India (Bombay High Court) Bombay High Court held re-opening of assessment under section 148 of the Income
CBIC notifies new Exchange Rate of Foreign Currency for Import and Export of Goods we.f. 21st July 2023
Clipped from: https://www.taxscan.in/cbic-notifies-new-exchange-rate-of-foreign-currency-for-import-and-export-of-goods-we-f-21st-july-2023/302324/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=CBIC%20notifies%20new%20Exchange%20Rate%20of%20Foreign%20Currency%20for%20Import%20and%20Export%20of%20Goods%20we.f.%2021st%20July%202023 The Central Board of Indirect Taxes and Customs (CBIC) vide notification no. Notification No. 54/2023 – Customs (N.T) has notified the exchange rate on 20th
👍👍👍👍👍👍👍Non-Mentioning of These 5 Incomes May Attract Income Tax Notice: Know the Details
Clipped from: https://www.taxscan.in/non-mentioning-of-these-5-incomes-may-attract-income-tax-notice-know-the-details/302024/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Non-Mentioning%20of%20These%205%20Incomes%20May%20Attract%20Income%20Tax%20Notice:%20Know%20the%20Details As the date for submitting Income Tax Returns (ITR) draws near, it is important to ensure that you submit your returns promptly. It is important
India bans white rice exports forthwith to control price – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/agri-business/india-bans-white-rice-exports-with-immediate-effect/article67101659.ece Clipped from: https://www.thehindubusinessline.com/economy/agri-business/india-bans-white-rice-exports-with-immediate-effect/article67101659.ece CBOT rice futures gain over 1%; Govt’s hands forced by 23% rise in FY23 shipments despite curbs The Indian government on Thursday
Infosys slashes FY24 guidance as clients cut spends, defer decisions – The Hindu BusinessLine
https://www.thehindubusinessline.com/info-tech/infosys-q1-profit-up-11-yoy/article67101348.ece Clipped from: https://www.thehindubusinessline.com/info-tech/infosys-q1-profit-up-11-yoy/article67101348.ece Amidst an uncertain demand environment, IT major Infosys has lowered its revenue guidance steeply to 1-3.5 per cent from 4-7, as the company said
28% GST on horse race betting a great disappointment: TAI – The Hindu BusinessLine
https://www.thehindubusinessline.com/news/sports/28-gst-on-horse-race-betting-a-great-disappointment-tai/article67102153.ece Clipped from: https://www.thehindubusinessline.com/news/sports/28-gst-on-horse-race-betting-a-great-disappointment-tai/article67102153.ece TAI asks govt to review the GST rate to support agricultural-based industry The GST Council’s recent decision to impose 28 per cent
Attrition rates in private banks jump to over 30% on increased competition – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Most players such as Axis Bank, Kotak Mahindra Bank and HDFC Bank have reported an increase in the turnover rates Employee turnover
‘De-dollarisation’ pact with UAE, a good step – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/editorial/de-dollarisation-pact-with-uae-a-good-step/article67102013.ece Clipped from: https://www.thehindubusinessline.com/opinion/editorial/de-dollarisation-pact-with-uae-a-good-step/article67102013.ece The UAE is India’s major trading partner and home to a large India Diaspora The Russia-Ukraine war and the resulting disruption in
Re internationalisation is not easy to achieve – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/re-internationalisation-is-not-easy-to-achieve/article67102589.ece Clipped from: https://www.thehindubusinessline.com/opinion/re-internationalisation-is-not-easy-to-achieve/article67102589.ece More than size of the economy and exports, credit rating and perceptions play a role in the rupee gaining universal acceptance It
Is tax regime for online gaming fair? – The Hindu BusinessLine
https://www.thehindubusinessline.com/opinion/is-tax-regime-for-online-gaming-fair/article67102633.ece Clipped from: https://www.thehindubusinessline.com/opinion/is-tax-regime-for-online-gaming-fair/article67102633.ece The GST Council’s decision to tax online gaming at 28 per cent and applying that to the entire value of the transaction
Attrition rates in private banks jump to over 30% on increased competition – The Hindu BusinessLine
https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Clipped from: https://www.thehindubusinessline.com/money-and-banking/attrition-rates-in-private-banks-jump-to-over-30-on-increased-competition/article67102367.ece Most players such as Axis Bank, Kotak Mahindra Bank and HDFC Bank have reported an increase in the turnover rates Employee turnover
Only Profit Element of Bogus Purchase can be Added to Taxable Income Under Income Tax Act when Assessee Reconciled the Stock: Bombay HC
Read More: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/ Clipped from: https://www.taxscan.in/only-profit-element-of-bogus-purchase-can-be-added-to-taxable-income-under-income-tax-act-when-assessee-reconciled-the-stock-bombay-hc/301700/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Only%20Profit%20Element%20of%20Bogus%20Purchase%20can%20be%20Added%20to%20Taxable%20Income%20Under%20Income%20Tax%20Act%20when%20Assessee%20Reconciled%20the%20Stock:%20Bombay%20HC The Bombay High Court has held that only the profit element of a bogus purchase can be added to taxable income
Mere incorrect claims in ITR not amounts to concealment of income
https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Clipped from: https://taxguru.in/income-tax/incorrect-claim-deduction-expenses-itr-amount-concealment-income-furnishing-inaccurate-particulars-itat-sets-nfac-order.html Kongnoli Sarva Seva Society Ltd Vs ITO (ITAT Pune) Introduction: The Income Tax Appellate Tribunal (ITAT) in Pune recently delivered an impactful ruling
👍👍👍👍👍👍👍Applicability of Tax Audit and Inter-link between Section 44AB, 44AD & 44ADA
https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Clipped from: https://taxguru.in/income-tax/applicability-tax-audit-inter-link-section-44ab-44ad-44ada.html Applicability of Tax Audit and Inter link between section 44AB vis-à-vissection 44AD and 44ADA of the Income Tax Act[Relevant for A.Y. 2023-24]
Cash deposit against Sum received from mother-in-law – ITAT directs re-adjudication
https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Clipped from: https://taxguru.in/income-tax/cash-deposit-sum-received-mother-in-law-itat-directs-re-adjudication.html Pawanveer Singh Vs ITO (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT) of Delhi recently delivered a crucial order in the Pawanveer
TDS Mismatch in 26AS and Profit & Loss Account: ITAT Orders Reassessment on Lack of Substantiating Evidence
Clipped from: https://www.taxscan.in/tds-mismatch-in-26as-and-profit-loss-account-itat-orders-reassessment-on-lack-of-substantiating-evidence/301323/ The Income Tax Appellate Tribunal of Kolkata Bench has issued a directive for the reassessment of a case where there was a discrepancy between the
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