Tax Guru6h
Penalty order passed beyond time period framed u/s. 275(1)(c) untenable: Delhi HC
Delhi High Court held that passing of penalty order after the lapse of six months from the end of the month in which the ...
Tax Guru6h
Is a Sanyasi (Renunciate) Entitled to Own Copyright in Literary Works?
Copyright is an inherent right: Under Section 17 of the Copyright Act, 1957, the author of a literary work is the first owner ...
Tax Guru10h
Delay of more than 10 years condoned as tax liability fastened without authority of law: ITAT Hyderabad
ITAT Hyderabad condoned delay of nearly a decade in filing of an appeal since tax liability was fastened on the assessee ...
Tax Guru10h
Rejection of refund of service tax by invoking section 142(8) of CGST Act not justified: CESTAT Chennai
CESTAT Chennai held that denial of refund claim related to cenvat credit of service tax under RCM by invoking provisions of ...
Tax Guru8h
Interest on refund not eligible when assessment finalized within prescribed time u/s. 18(4): CESTAT Chandigarh
CESTAT Chandigarh held that interest on refund not eligible if the assessment is finalized within three months as prescribed ...
Tax Guru8h
No Seizure & GST Penalty for Route Deviation in Transport: Allahabad HC
Goods not liable for seizure and penalty thereof when designated route not taken during transportation ...
Tax Guru7h
GST amount do not form part of receipts for computation of income u/s. 44BB: ITAT Mumbai
ITAT Mumbai held that GST/service tax which is collected by the assessee from its customers and paid to the Government do not form part of the receipts for computation of income as per section 44BB of ...
Tax Guru6h
Interest earned from deposit of grant not includible if income is remitted back to government
“Rule 230 (8) All interests or other earnings against Grants in aid or advances (other than reimbursement) released to any Grantee institution should be mandatorily remitted to the Consolidated Fund ...
Tax Guru6h
Rejection of books of accounts unjustified as no discrepancy pointed out: ITAT Ahmedabad
ITAT Ahmedabad held that rejection of books of accounts without pointing out any discrepancy and defects in the same is unjustified. Thus, act of AO rejecting the books of accounts is set aside.
Tax Guru7h
Important Advisory on GSTR-2B for October 2024
1. It has been reported by few taxpayers that their GSTR-2B for October-2024 period has not been generated on 14th November, 2024. In this regard it to be informed that as per the design of IMS, ...
Tax Guru7h
Difference Between Partner’s Salary and Partner’s Remuneration
In a partnership, compensation for the partners’ time, expertise, and capital investment is an important part of the business structure. However, the ...
Tax Guru8h
SEBI Master Circular for Issue of Capital and Disclosure Requirements
Securities and Exchange Board of India (SEBI) has issued an updated Master Circular on November 11, 2024, consolidating all circulars related to the SEBI (Issue of Capital and Disclosure Requirements) ...