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The Jharkhand High Court ruled that the show cause notice must provide the notice a reasonable chance to make the objections against the suggested charges shown in the notice and the individual move against should tell about the charges against him so that he could perform his defence and prove his innocence. In the whole […]
The National Company Law Tribunal (NCLT) in Ahmedabad, India, recently made a decision. The bench comprised of Mrs Chitra Hankare (Judicial Member) and Dr Velamur G Venkata Chalapathy (Technical Member), stated that when a company is being liquidated, the income tax paid by the buyer in an auction should be considered as a recovery of […]
The ruling by the Bombay High Court clarifies that it’s impermissible to levy taxes on an amount that the assessee hasn’t accrued or received, based solely on the assumption that the Small Causes Court might eventually favour the appellant or assessee by ordering such a sum. Justice G.S. Kulkarni and Justice Jitendra Jain noted that […]
Taxpayers are encouraged by the Income Tax Department to correct any erroneous refund claims or exemptions. This can be done by submitting revised returns for the current assessment year and updating filings for previous assessment years. The deadline for filing Income Tax Returns (ITR) for the assessment year (AY) 2023-24 was July 31, 2023. If […]
The Allahabad High Court has affirmed the termination of the Arbitrator’s role due to an unexplained delay of eight years in the proceedings. Justice Rohit Ranjan Agarwal’s bench noted that the arbitrator presided over the case for an extended period without advancing it, and hastily issued the award after a removal request was filed. Consequently, […]
The Income Tax (IT) Department is considering filing an appeal in the Supreme Court (SC) against a decision given by the Delhi High Court, which declared that any IT assessment order passed without a Document Identification Number (DIN) holds no legal validity. In April, the Delhi HC upheld the provisions of a 2019 notification released […]
The High Court of Kerala in the case of M/S. HILTON GARDEN INN Vs. THE COMMISSIONER OF KERALA GST has ruled that GST interest could not be imposed on the non-filing of GSTR-3B because of GSTN Cancellation. The current writ petition seeks to overturn Exhibit P-14, which instructs the petitioner to immediately pay the interest […]
The recent ruling by the Gujarat High Court emphasized the necessity of concrete evidence and a legitimate rationale to support the notion that income has been overlooked in assessments. This decision holds considerable weight in evaluating the validity of reopening assessments when the reasons provided lack a direct link between the taxpayer and the contentious […]
The reassessment proceedings executed against the non-existent/amalgamated entity under Section 148 A of the Income Tax Act have been cancelled by the Madhya Pradesh High Court stating that despite being available the other remedy has no bearing on the same cases when the entity has stopped to exist under the amalgamation. There is no independent […]
