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Latest judgements uploaded (See all)
Late Shobha Mehta Through Legal Heir Sh. Kanhaya Lal Mehta (Rajasthan High Court) (Jodhpur)
Rajasthan High Court Jodhpur : Notice issued u/s 148 of the Income Tax Act, 1961 with a view to reopen the concluded re-assessment for AY 2013-14 was held invalid as the same was issued in the name of deceased assessee late Smt. Shobha Mehta. Following the decisions in the case of Smt. Kesar Devi V CIT (2009) 227 CTR 621(Raj).… Read More ...

M/s Munjal Showa Ltd Vs Union of India & Ors (Supreme Court)
Supreme Court : M/s Munjal Showa Ltd Vs Union of India & Ors(Supreme Court) Date-23rd September, 2022 Sub-Whether extended period of limitation can be invoked where DEPB license on the basis of which import duty exemption was claimed were fake licenses? In this case, the division bench of Hon’ble Supreme Court was called upon to decide regarding the… Read More ...

ITO vs. Hi link City Homes Pvt. Ltd. (ITAT Indore)
ITAT Indore: *“Alleged accommodation entries taken From alleged shell companies i.e. Jayant Securities & Finance Ltd. and Jay Jyoti (India) Pvt. Ltd. are Genuine Loans ”- ITAT Indore* The issue involved was whether “Merely for not producing the cash creditors before the Ld. AO even when all the necessary documents as required to prove the identity, creditworthiness… Read More ...

Latest articles published (See all)
Allowibility of GST payable vis-à-vis Method of accounting – S. 43B of the I.T. Act
By CA VINAY V. KAWDIA: Where the assessee had not recognized the amount of VAT/GST payable / paid in its Profit & Los s Account and had only made entries in the Balance Sheet, are the provisions of section 43B of the Act attracted in the case? The issue is explained in view of the cumulative provisions of sections 145A… Read More ...

LALIT MISHRA & ORS (Appellant) vs. SHARON BIOMEDICINE LTD. & ORS. (Respondent) NCLAT Company Appeal (AT) (Insolvency) No. 164 of 2018
By FCS Deepak P. SIngh[ B.Sc., LLB, FCS, AIII, CRMP]: Dear Friends, The NCLAT held that Promoters of Corporate Debtors cannot claim discrimination ,while implementation of Approved Resolution Plan. Since Promoters as personal guarantor of the Corporate Debtor are relative party and hence they are not allowed to participate in the Resolution Plan. Regards Read More ...

CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961
CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961
By CA Milind Wadhwani DISA(ICAI), FAFD(Cert.), CCCA(Cert.), Research (Ph.D.) Scholar Mobile +91 9826273333 Mail ID: - MILIND.WADHWANI20@GMAIL.COM: Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17 September, 2022 PRESS RELEASE CBDT issues Revised Guidelines for compounding of offences under the Income tax Act, 1961 In conformity with the Government's policy of facilitating Ease of Doing Business and decriminalisation of offences, CBDT has taken steps… Read More ...