Tax Guru10h
Benefit cannot be denied on the ground of non-functionality of TRACES Portal: Madhya Pradesh HC
Madhya Pradesh High Court held that the non-functionality of the TRACES Portal shall not be grounds for denying the benefit ...
Tax Guru2m
Injustice Done In Dr GN Saibaba Case Is Most Atrocious For Which Both State And Judiciary Are Culpable
And Judiciary Are Culpable As most of us know fully well, the eminent former Delhi University Assistant Professor and human rights activist Dr GN Saibaba breathed his last on October 12, 2024 in ...
Tax Guru53s
SEBI’s Regulatory Framework for AI and Algorithmic Trading: Balancing Innovation with Market Integrity
The stand of SEBI on the regulation of algorithmic trading is developing in a manner wherein markets can innovate and, at the same time, restrain themselves from malpractices that might hurt market ...
Tax Guru6m
CBDT Amends Rules 21AA, 26B and Forms 12BAA, 16, 24Q
G.S.R. 639 (E).— In exercise of the powers conferred by section 295 read with section 192 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules ...
Tax Guru9m
Cost imposed on assessee for not responding during assessment and appellate proceedings: ITAT Bangalore
ITAT Bangalore held that there was no proper response during the assessment proceedings as well as in the appellate proceedings. Accordingly, issue remanded back to the file of AO subject to payment ...
Tax Guru6m
CBDT notifies amendment to Form No. 10A and Form No. 10AB
On October 15, 2024, the Central Board of Direct Taxes issued Notification No. 111/2024 to amend the Income-tax Rules, 1962, effective retroactively from October 1, 2024. The amendments primarily ...
Tax Guru13m
Financial creditor can initiate insolvency resolution process u/s. 7 of IBC against co-borrower: NCLAT Delhi
NCLAT Delhi held that insolvency resolution process against co-borrower justified as obligation of the Co-Borrower is coextensive and coterminous with that of the Primary Borrower. Accordingly, ...
Tax Guru12m
Passing final assessment order beyond prescribed limit u/s. 144C bad-in-law: Delhi HC
Delhi High Court held that AO is required to pass final assessment order u/s. 144C within period of one month from the end of the month in which period of filing objection expires. Passing of final ...
Tax Guru15m
Challenge to Income Tax Section 87A Rebate Denial in Gujarat High Court
In a Public Interest Litigation (PIL) filed in the High Court of Gujarat, petitioner Chintan Nareshkumar Patel challenges the recent denial of the rebate under Section 87A of the Income Tax Act, 1961, ...
Tax Guru16m
PIL Challenges Denial of rebate under Section 87A and Unjust Demand notices
The PIL, initiated by Chartered Accountant Chintan N. Patel and represented by Advocate CA Rutvij Patel, aims to provide relief to thousands of affected taxpayers, particularly those from middle-class ...
Tax Guru21h
Payment of management and license fee not relatable to imported goods not includible in transaction value
Held that the payment of Management Fee and the License Fee not being relatable to the imported goods and condition precedent ...
Tax Guru21h
Bombay HC Orders New Affidavit in Customs Case
Vs Deputy Commissioner of Customs, the Bombay High Court rejected an affidavit submitted by Customs Officer Surgive Meena due ...