Tax Guru7h
Capital gain cannot be treated as bogus merely on warning letter of SEBI without any incriminating material
ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI without any incriminating material found during course of search ...
Tax Guru8h
No Reassessment After 4 Years for AO’s Error in Computing Income When Material Facts Fully Disclosed
Baldota, quashing an income tax reassessment notice issued under Section 148 of the Income Tax Act, 1961. The case pertained to the assessment year 2015-16, with the reassessment notice issued on ...
Tax Guru9h
Essential Documents Required for Applying for an Abroad Education Loan
Your academic background is an important part of your application. Commonly required documents are: Proof of Admission; This ...
Tax Guru9h
Section 54F Deduction Cannot Be Denied for Delay in Flat Handover if Compliances Are Met
Upon plain reading of section 54 of the Act, it is very clear that so as to avail the benefit under section 54 of the Act, one must purchase a residential house/new asset within one year prior or two ...
Tax Guru9h
Bail under Bhartiya Nagrik Suraksha Sanhita rejected as link in coal scam established
Chhattisgarh High Court rejected bail application filed u/s. 483 of the Bhartiya Nagrik Suraksha Sanhita, 2023 as prosecution prima facie establishes link between accused in the coal scam. Accordingly ...
Tax Guru9h
GSTN Advisories on E-Way Bills, HSN Codes, Rectification, GSTR-2B & Waiver Scheme
GSTN has issued an Advisory on availability of a new functionality on the Portal for tax-payers to file an application for rectification of ITC related orders issued under section 73/74. It con-tains ...
Tax Guru9h
Customs Duty Exemption Cannot Be Denied When Export Obligation Fulfilled & EODCs Issued: CESTAT Delhi Delhi
Delhi recently ruled in favor of Svam Toyal Packaging Industries Pvt. Ltd., overturning a demand of ₹21,43,27,904 in customs duty, along with interest and a penalty of ₹50,00,000. The dispute centered ...
Tax Guru9h
Top 10 Reasons for Audit Committee Underperformance
Audit Committee (AC) is one of the most important committees of the Board. It is expected to perform a number of vital functions. However, a number of ACs are reportedly underperforming on account of ...
Tax Guru9h
Silver’s Role in Renewable Energy: How Green Tech is Driving Prices Higher
According to data from the New York Mercantile Exchange Comex, global silver prices have reached their highest level in five ...
Tax Guru9h
GST Amnesty Scheme for Section 73 cases
(Finance Act (No.2): Section 146 w.e.f. from 01/11/2024) ...
Tax Guru10h
SEBI Launches ‘Bond Central’ for Corporate Bond Data
Today, Chairperson, SEBI launched ‘Bond Central’ – a Centralised Database Portal for Corporate Bonds. The portal has been developed by Online Bond Platform Providers Association (OBPP Association) in ...
Tax Guru10h
Madras HC ruling on GST Section 47 Late Fee & Section 125 General Penalty
The court upheld the validity of the notice issued under Section 47 read with Section 73 of the Tamil Nadu Goods and Services Tax (TNGST) Act, 2017. It ruled that the imposition of late fees for the ...