Clipped from: https://indianexpress.com/article/opinion/columns/p-chidambaram-writes-why-no-jobs-for-most-youth-10026736/ …The regrettable but inescapable conclusions are, firstly, that the applicants for jobs do not have the education or the skills to fill the
*******Reassessment u/s. 148 untenable as mandatory requirement of 149(1)(b) not complied
Clipped from: https://taxguru.in/income-tax/reassessment-u-s-148-untenable-mandatory-requirement-149-1-b-complied.html Novo Nordisk India Private Limited Vs DCIT (Karnataka High Court) Karnataka High Court held that assumption of jurisdiction under section 147 of the
Long Term Capital Gain On Immovable Properties – After Budget 2024
Clipped from: https://taxguru.in/income-tax/long-term-capital-gain-immovable-properties-budget-2024.html A very significant change that was brought in by the Union Budget 2024 was related to Long Term Capital Gains (LTCG) on sale
*******ITAT Quashes Reassessment Proceedings Without Documentary Evidence and Borrowed Satisfaction
Clipped from: https://www.taxscan.in/reassessment-proceedings-initiated-without-documentary-evidence-and-based-on-borrowed-satisfaction-itat-quashes-proceedings/521001/ The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ),quashed reassessment proceedings initiated without any documentary evidence and based solely on borrowed satisfaction. The Revenue-appellant appealed
*******CPC cannot continue to Rectify and Re-rectify intimation u/s 143(1)(a) of Income Tax Act Repeatedly: Delhi HC [Read Order]
Clipped from: https://www.taxscan.in/cpc-cannot-continue-to-rectify-and-re-rectify-intimation-u-s-1431a-of-income-tax-act-repeatedly-delhi-hc/520944/ The repeated use of rectification powers, without due consideration of earlier corrective actions, was deemed improper. This aspect was not considered by the
*******Playing cards without gambling doesn’t involve moral turpitude: SC | India News – Business Standard
Clipped from: https://www.business-standard.com/india-news/playing-cards-without-gambling-doesn-t-involve-moral-turpitude-sc-125052500238_1.html The Supreme Court ruled that playing cards for fun without gambling doesn’t involve moral turpitude, reinstating Hanumantharayappa YC’s election in Karnataka’s cooperative society
*******Reassessment order set aside as passed without disposal of objections: Karnataka HC
Clipped from: https://taxguru.in/income-tax/reassessment-order-set-passed-disposal-objections-karnataka-hc.html Hewlett Packard Financial Services (India) Pvt Ltd Vs DCIT (Karnataka High Court) Karnataka High Court held that reassessment order under section 148 of
*******Reopening u/s. 148 beyond 4 years quashed as material facts fully & truly disclosed: ITAT Raipur
Clipped from: https://taxguru.in/income-tax/reopening-u-s-148-4-years-quashed-material-facts-fully-disclosed-itat-raipur.html Pradeep Kumar Agrawal Vs ITO (ITAT Raipur) ITAT Raipur held that reopening of proceedings under section 148 of the Income Tax Act beyond
*******ITC Eligibility: Section 16(2) vs. 16(5) CGST Act
lipped from: https://taxguru.in/goods-and-service-tax/itc-eligibility-section-162-vs-165-cgst-act.html Introduction The question raised presents a critical legal and administrative dilemma regarding the interplay between the basic eligibility conditions for Input Tax Credit
*******Don’t File Your ITR Without Reconciling AIS &; TIS — Here’s Why?
Clipped from: https://taxguru.in/income-tax/donaet-file-itr-reconciling-ais-tis-aehereaes-why.html Introduction It’s ITR season again, and many taxpayers are logging in to find something new on their Income Tax portal — AIS (Annual Information
*******ITC on Inputs for Destroyed Goods Reversible: Telangana AAAR
Clipped from: https://taxguru.in/goods-and-service-tax/itc-inputs-destroyed-goods-reversible-telangana-aaar.html ITC availed on inputs used in the manufacture of finished goods that subsequently got destroyed, must be reversed: Telangana AAAR The Telangana AAAR,
***Taxation of Gifts and Zero Rating of Gift Transactions In The Hands of Individual
Clipped from: https://taxguru.in/income-tax/taxation-gifts-rating-gift-transactions-hands-individual.html Section 56(2)(x) of the Income Tax Act, 1961, is a wide-ranging anti-abuse provision aimed at taxing gifts and property transfers; received without consideration
***Section 50C addition without referring to Valuation Officer not sustainable: ITAT Ahmedabad
Read more at: https://taxguru.in/income-tax/50c-addition-referring-valuation-officer-sustainable-itat-ahmedabad.htmlCopyright © Taxguru.in Clipped from: https://taxguru.in/income-tax/50c-addition-referring-valuation-officer-sustainable-itat-ahmedabad.html Mohammedaarif Yunusbhai Patel Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that addition invoking provisions of section 50C(2) of
Appealing Cancellation of GST Registration, Find Draft Reply here!
Clipped from: https://www.taxscan.in/filing-appeal-revocation-cancellation-of-gst-registration-intent-importance-purposes/469454/ The cancellation of GST registration can have significant repercussions for businesses, affecting their operational continuity and legal compliance. It often arises due to
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