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The Assam GST Department released Instruction No. 13/2023-GST on December 26, 2023. This instruction is about the notices that were sent out using IIT Big Data Software.Notice No. CT/GST-40/2020/108 is about the IIT Big Data Software that the Assam Tax Department has bought to make their work easier. This software can automatically create notices (in […]
Under section 271(1)(c) of the Income Tax Act, 1961 Delhi High Court penalty is not possible merely when the furnishing of inaccurate particulars was proven. under Section 271(1)(c) of the Act a case where the person is required to show clearly as to which limb of the stated provision is drawn. The order passed by […]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) clarified that failing to deposit long-term capital gains (LTCG) into a capital gain account scheme does not warrant disallowance of deduction under Section 54 of the Income Tax Act. Saktijit Dey (Vice President) and M. Balaganesh (Accountant Member) took a meticulous approach in addressing the matter. […]
The recent ruling by the Madras High Court states that the director isn’t responsible for paying GST if it’s unclear whether the company can settle the dues during liquidation proceedings. During an inspection at SKMPL’s factory, State GST Officers seized documents leading to a show cause notice issued under Section 74 of the CGST & […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) ruled that payments to consultant and retainer doctors are exempt from Tax Deducted at Source (TDS) under Section 192B of the Income Tax Act, 1961. The assessee, a leading integrated healthcare provider in India, operates hospitals, diagnostics, and speciality daycare facilities. Based in Gurugram, Haryana, […]
The department has been instructed by the Delhi High Court to give a refund amount that the petitioner has deposited through a payment of Rs. 23,70,000 in cash along with interest at a yearly rate of 6%. The two-member bench comprising Justice Vibhu Bakhru and Justice Amit Mahajan has noted that a sum amounting to […]
Most of India’s employed individuals selected the traditional tax structure when filing their returns in the 2023-24 fiscal year, favouring long-term investments over the immediate cash benefits provided by the new system. According to a Policybazaar.com survey, 63% favoured the old tax regime, while 37% opted for the new one. Individual taxpayers can opt for […]
The officers are only permitted to force the assessee to pay the tax if they do not comply with the requisite process, notwithstanding that the same might be apparent that these taxes are left and liable to get paid, Delhi High Court ruled. Justice Vibhu Bakhru and Justice Amit Mahajan highlighted that the statement of […]
The Hon’ble Allahabad High Court reviewed the matter of M/S Shree Krishna Traders Vs State of UP and another – 2023 (10) TMI 927 – Allahabad High Court and resolved the writ petition by overruling the impugned directive given. The court remitted the case back to the revenue division for further study, instructing them to […]
