CBDT Notifies “POWERGRID Infrastructure Investment Trust” As Prescribed Mode of Investment u/s 11(5)
Notification No. 103/2023, dated 18-12-2023 Section 11(5) prescribes the mode in which the income of a trust or institution claiming income-tax exemption under various provisions shall be invested or deposited. These modes include immovable property, Central Government or State Government Securities, Government Savings Certificates, etc. Further, Rule 17C also lists various forms and modes of […]
[Opinion] The Conundrum of A Nominee Director
Harshit Jain – [2023] 157 taxmann.com 380 (Article) Research Question How have the conflicting duties of a Nominee Director put him in a position of dual loyalty and how it has been resolved by the courts of various countries? Is there any better possible solution in contrast to the current solution? Research Paper Introduction A […]
SC Cautions Courts to Avoid Showing Leniency in Granting Bail to Women in PMLA Cases, Regardless of Their Involvement
Case Details: Saumya Chaurasia v. Directorate of Enforcement – [2023] 157 taxmann.com 326 (SC) Judiciary and Counsel Details Aniruddha Bose & Bela M. Trivedi, JJ. Facts of the Case In the instant case, the Supreme Court turned down the bail plea of the appellant, who was the former Deputy Secretary and OSD in the Office […]
Saint Lucia’s Tax Inspectors without Borders (TIWB) programme launched in partnership with India
Publish Date : Friday, December 15, 2023 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1169/Press-Release-Saint-Lucias-Tax-Inspectors-without-Borders-TIWB-programme-launched-in-partnership-with-India-dated-15-12-2023.pdf source
Search Authorization Was Erroneous If Grounds Set Out in Authorization Were Not Borne Out From Information on Record | HC
Case Details: Bhagat Ram Om Prakash Agro (P.) Ltd. v. Commissioner Central Tax GST – [2023] 157 taxmann.com 258 (Delhi) Judiciary and Counsel Details Vibhu Bakhru & Amit Mahajan, JJ. Avi Singh, Tanuj Bhadana & Shikhar Garg, Advs. for the Petitioner. Atul Tripathi, V.K. Attri, Advs., Pawan Kumar & Rajesh Kumar, Superintendents for the Respondent. Facts of the Case In […]
[Opinion] Tax Exemption for Tea Warehousing – A High Court Victory for Agriculture
Yubaraj Chatterjee – [2023] 157 taxmann.com 280 (Article) Introduction In a landmark decision of Nutan Warehousing Co. (P.) Ltd. v. Commissioner Writ Petition No. 12775 Of 2019, the Bombay High Court has declared “tea” stored in warehouses to be an agricultural produce, exempting it from GST under Notification No. 12/ 2017-Central Tax (Rate). This ruling […]
ALP of Intra-group Services Cannot be Considered Nil If Services Were Backed by Agreement & Evidence | ITAT
Case Details: Pall India (P.) Ltd. v. DCIT – [2023] 157 taxmann.com 238 (Mumbai-Trib.) Judiciary and Counsel Details Pavan Kumar Gadale, Judicial Member & Prashant Maharishi, Accountant Member Dhanesh Bafna & Manish Garg for the Assessee. Amol Mahajan, ARs & Shyam Prasad, DR for the Respondent. Facts of the Case Assessee-company had entered into a multi-lateral service agreement with […]
Special Audit is Valid If Its Approval Considers Assessee’s Response, Revenue Comments, and Includes Hearing Opportunity
Case Details: Jabalpur Development Authority v. PCIT – [2023] 157 taxmann.com 52 (Madhya Pradesh) Judiciary and Counsel Details Sheel Nagu & Hirdesh, JJ. Abhishek Oswal, Adv. for the Petitioner. Harshvardhan Topre, Adv. for the Respondent. Facts of the Case The approval for special audit under section 142(2A) was accorded for auditing the assessee – Jabalpur Development Authority’s […]
Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Depository Transactions
Publish Date : Wednesday, November 15, 2023 source
HC Upheld Validity of Notices Being Duly Served to Assessee Through GST Online Portal
Case Details: Piku Saha v. State of West Bengal – [2023] 157 taxmann.com 133 (Calcutta) Judiciary and Counsel Details Ravi Krishan Kapur, J. Himangshu Kr. Roy & Abhilash Mittal, Advs. for the Petitioner. Subir Kr. Saha, Adv. for the Respondent. Facts of the Case In the present case, the department issued intimation of tax on […]