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Micro, Small, and Medium Enterprises (MSMEs) in recent years have attained significant importance in driving economic growth and development. Such businesses secures an important role in creating jobs, fostering innovation, and contributing to the overall Gross Domestic Product (GDP) of a country. The MSMEs importance is been discussed in this blog and also why they […]
The Punjab & Haryana High Court while indicating that the scheme of faceless assessment is applicable from the phase of SCN under section 148 as well as 148A, held that notice under section 148 could not be issued via the jurisdictional assessing officer post introduction of the faceless assessment scheme. As SCN has been issued […]
The Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has ruled that cement manufacturers are authorized to cenvat credit on welding electrodes as inputs used in the manufacture of final products, namely cement and clinker. The bench of Binu Tamta (Judicial Member) has marked that according to sub-rule 4 of Rule 57-A […]
The Income Tax refund was rejected without providing a chance to hear the Karnataka High Court ruled that. The Court held that the authority is required to consider the time available u/s 163(6) of the Income Tax Act,1961. The taxpayer Healthcare Global Enterprises Limited, contested the validity of the impugned Assessment Order computation sheet, and […]
The decision of the Single Bench has been carried out by the bench of Justice A.K. Jayasankaran Nambiar and Justice Syam Kumar V.M. where it was ruled that the applicant had downloaded the assessment order from the identical portal, and hence the delay occasioned in retrieving the assessment order from the portal was a predicament […]
A Bengaluru-based chartered accountant (CA) in between the rush to file the ITR before July 31 has a funny take on Infosys founder Narayana Murthy’s famous suggestion, encouraging young professionals to work 70 hours a week to build the country. While angering on X Basu (@Basappamv) mentioned that even after working for more than 70 […]
The non-filing of the returns even after the receipt of the assessment order is fatal for the taxpayer, Kerala High Court ruled. It was noted by the bench of Justice A.K. Jayasankaran Nambiar and Justice Syam Kumar V.M. that the same might be correct that the respondents did not furnish a formal notice as needed […]
If the income tax officer who hears the case does not render the decision, it would directed to a breach of the principles of natural justice, Kerala High Court ruled. The bench of Justice Murali Purushothaman has marked that the doctrine ‘he who heard should decide or he who decides should hear’ applies to legal […]
No service tax is liable to get paid on TDS paid on behalf of a foreign service provider, The Chennai Bench of Custom, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled. TDS deposited to the Income Tax Department concerning the payment completed to the foreign service provider over and above the invoice value of the […]
