Category: News

Delhi HC Upheld the Constitutional Validity of Anti-Profiteering Measures Under Section 171

Case Details: Reckitt Benckiser India (P.) Ltd. v. Union of India – [2024] 158 taxmann.com 675 (Delhi) Judiciary and Counsel Details Manmohan, ACJ. & Dinesh Kumar Sharma, J. P. Chidambaram, Sr. Adv. R. Jawahar Lal, Siddharth Bawa, Anuj Garg, Mohit Sharma, Ms Harshita, Amar Dave, Amicus Curiae & Vikramaditya Bhaskar, Advs. for the Petitioner. & Others. Zoheb Hossain, Sanjeev Menon, Vivek Gurnani, Kavish Garach, Ms Abhipriya, Vivek Gaurav, Ms Sejal Aneja, Ms Manisha, Asheesh […]

[Analysis] Changes Introduced in the New ITR-6 Released for Assessment Year 2024-25

Table of Contents Details of Legal Entity Identifier (LEI) New ‘Schedule 115TD’ inserted for reporting of tax payable on accreted income Disclosure of information pertaining to the Capital Gains Accounts Scheme New Schedule 80GGC seeks details of contributions made to political parties New Schedule 80-IAC seeks details in respect of eligible start-up New Schedule 80LA […]

ICAI has Prepared Draft Bank Branch Auditors’ Panel (MEF) for the Year 2023-24

The Institute of Chartered Accountants of India has requested its members to check the draft hosted panel for bank branch auditors’ consisting of Chartered Accountants/firms for the year 2023-24 prepared as per the RBI Norms dated 6th March, 2023 at https://app.meficai.org/draftPanel. The members would also be able to view the reasoning for the change in […]

[Opinion] Pre-Budget 2024-25 | Wishlist of 15 Critical Grey Areas in Direct Tax Domain

Mayank Mohanka – [2024] 158 taxmann.com 563 (Article) Friends, as the final countdown to the Interim Union Budget 2024-25 begins, so does the customary ritual of penning down pre-budget wish lists. But for me, this writing exercise is not merely a customary ritual but instead an opportunity to highlight some critical and relevant grey areas […]

CBDT Releases Explanatory Notes Pertaining to Provisions of the Finance Act, 2023

CIRCULAR NO. 1/2024, dated 24-01-2024 The Central Board of Direct Taxes (CBDT) has released the explanatory notes to the provisions of the Finance Act, 2023. These explanatory notes describe the substance of the provisions/amendments made by the Finance Act, 2023 relating to Income-tax. The Finance Act, 2023, as passed by the Parliament, received the assent […]

Guide to e-Governance and e-Filing – Advantages | MCA-21 Program | Practical Tools

Table of Contents What is e-Governance Filing of applications, documents, inspection etc. in electronic form Advantages of e-Filing MCA-21 Programme MCA-21 Version 3 Five Step e-Filing Process Check out Taxmann’s Company Law which authored by Dr. G.K. Kapoor and Dr. Sanjay Dhamija, is a comprehensive resource blending the Companies Act provisions, judicial decisions, and SEBI […]

Operational Creditor’s CIRP Petition Was to Be Rejected Due to Non-Compliance With Demand Notice Rules | NCLT

Case Details: Tata International Ltd. v. Trident Sugars Ltd. – [2024] 158 taxmann.com 287 (NCLT – Hyd.)[31-08-2023] Judiciary and Counsel Details Dr. Venkata Ramakrishna Badarinath Nandula, Judicial Member & Charan Singh, Technical Member Y. Suryanarayana Ld. Counsel & Mrs Mano Ranjani, Adv. for the Petitioner. Sri. P. Sri Raghuram, Ld. Sr. Counsel & P. Sastry, Adv. for the Respondent. Facts […]

HC Set Aside Order as Reply to SCN Wasn’t Considered by AO Before Passing Demand Order

Case Details: MakeMyTrip (India) (P.) Ltd. v. State Tax Officer – [2024] 158 taxmann.com 492 (Madras) Judiciary and Counsel Details Senthilkumar Ramamoorthy, J. Harish Bindumadhavan for the Petitioner. V. Prashanth Kiran for the Respondent. Facts of the Case The petitioner (MakeMyTrip) was an intermediary providing services in relation to hotel accommodation. The department issued show cause notice […]