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Blog, News, Income Tax

November 15, 2022

Estimating profit of 3% justified as net profit that prevails in diamond industry ranges b/w 1.5%-4.5%: ITAT

Case Details: Oopal Diamond v. … Continue reading “Estimating profit of 3% justified as net profit that prevails in diamond industry ranges b/w 1.5%-4.5%: ITAT”

Blog, News, Income Tax

November 15, 2022

Trust registration once granted can’t be cancelled based on same set of provisions that were examined earlier: HC

Case Details: Sri. Ramjanki Tapovan … Continue reading “Trust registration once granted can’t be cancelled based on same set of provisions that were examined earlier: HC”

Blog, News, Insolvency and Bankruptcy Code

November 14, 2022

Mere security of interest created by mortgage doesn’t constitute a financial debt: NCLAT

Case Details: Doha Bank Q.P.S.C … Continue reading “Mere security of interest created by mortgage doesn’t constitute a financial debt: NCLAT”

Blog, News, GST & Customs

November 14, 2022

Cotton seeds would not be covered under definition of agricultural produce being obtained after processing in mills: AAR

Case Details: Authority for Advance … Continue reading “Cotton seeds would not be covered under definition of agricultural produce being obtained after processing in mills: AAR”

News, Blog, Transfer Pricing

November 14, 2022

ITAT quashes time-barred assessment as no effort was made to forward draft order to new address intimated to AO

Case Details: DSV Solutions (P.) … Continue reading “ITAT quashes time-barred assessment as no effort was made to forward draft order to new address intimated to AO”

Blog, News, International Tax

November 14, 2022

[World Tax News] Benefit arising to employee charging his car at the office is tax-free and more

Editorial Team World Tax News … Continue reading “[World Tax News] Benefit arising to employee charging his car at the office is tax-free and more”

News, Blog, Company Law

November 14, 2022

[Case Study] Consequences of regulatory action in case of errors in board minutes

[2022] 144 taxmann.com 132 (Article) … Continue reading “[Case Study] Consequences of regulatory action in case of errors in board minutes”

Blog, News, GST & Customs

November 14, 2022

Order based on discrepancies different from those mentioned in scrutiny notice is not sustainable: HC

Case Details: Vadivel Pyrotech (P.) … Continue reading “Order based on discrepancies different from those mentioned in scrutiny notice is not sustainable: HC”

Blog, News, Account & Audit

November 14, 2022

Presentation of cash flows from long-term investments in the cash flow statement of an AIF

AIF means any fund established … Continue reading “Presentation of cash flows from long-term investments in the cash flow statement of an AIF”

Blog, News, Transfer Pricing

November 11, 2022

Director holding no share in Company can’t be treated as Associated Enterprise: ITAT

Case Details: DCIT v. Reliance … Continue reading “Director holding no share in Company can’t be treated as Associated Enterprise: ITAT”