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Debenture Trustees Can Start New Business Verticals with RBI Consent, Ensuring No Conflict with Trusteeship | SEBI
Informal Guidance No. SEBI/HO/DDHS/PoD-3/P/OW/2024/29617/1, Dated 16.09.2024 A company sought informal guidance on whether a SEBI-registered Debenture Trustee (DT) can start a new business vertical for marketing CASA deposits, retail loans, and engaging DSAs for its parent company. SEBI clarified that a DT can start a new business vertical. However, they must report to SEBI every […]
Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024
Publish Date : Monday, December 16, 2024 source
Order Quashed as Various Contentions Raised by Assessee in Reply Were Not Considered and Personal Hearing Was Not Granted | HC
Case Details: Rays Power Infrastructure (P.) Ltd. v. Assistant Commissioner of Commercial Taxes - [2024] 169 taxmann.com 151 (Karnataka) Judiciary and Counsel Details C.M. Poonacha, J. H.R. Kambiyavar, Patri Shahikala K. & Smt. Joshna P. Dhanave, Advs. for the Petitioner. Shivaprabhu S. Hiremath, AGA, Venkatesh M. Kharvi & Girish Hulmani, Advs. for the Respondent. Facts of the Case The assessee was […]
Issuance and Dropping of Notice Under Section 73 Does Not Prevent Authorities from Initiating Proceedings u/s 74 | HC
Case Details: Group M Media India (P.) Ltd. v. Union of India - [2024] 169 taxmann.com 146 (Punjab & Haryana) Judiciary and Counsel Details Sanjeev Prakash Sharma & Sanjay Vashisth, JJ. Tarun Gulati, Sr. Adv., Nikhil Goyal & Ms Anishka Gupta, Advs. for the Petitioner. Facts of the Case The petitioner was issued a notice under section 73 […]
Claiming of ITC Under Wrong Head Is Only a Technical Mistake Committed by Assessee | HC
Case Details: Rejimon Padickapparambil Alex v. Union of India - [2024] 169 taxmann.com 152 (Kerala) Judiciary and Counsel Details Dr. A.K. Jayasankaran Nambiar & K.V. Jayakumar, JJ. R. Jaikrishna, Anish P., C.S. Arun Shankar, Ganesan M., Smt. Narayani Harikrishnan & Vivek Bhat D., Advs. for the Petitioner. P.R. Sreejith, Adv., Govt. Pleader, Smt. Resmitha Ramachandran & T.C. Krishna, Sr. Panel Counsel for the […]
Disallowing ITC for Late Returns Is Arbitrary as Late Fees and Interest Serve as Sufficient Deterrents | HC
Case Details: Anand Steel v. Union of India - [2024] 169 taxmann.com 105 (Madhya Pradesh) Judiciary and Counsel Details S.A. Dharmadhikari & Binod Kumar Dwivedi, JJ. P.M. Choudhary, Sumit Nema, Sr. Advs., Arun Dwivedi, Anand Prabhawalkar & Piyush Parashar, Advs. for the Petitioner. Sudeep Bhargava & Ms Khushbu Verma, Advs.a for the Respondent. Facts of the Case During the financial year 2018-19, […]
Compliance-Cum-Awareness Campaign for AY 2024-25
Publish Date : Saturday, November 16, 2024 Attachments : 1. https://incometaxindia.gov.in/Lists/Press Releases/Attachments/1212/Press-Release-Compliance-Cum-Awareness-Campaign-for-AY-2024-25-dated-16-11-2024.pdf source
[Opinion] Transfer Pricing Nuances of Intra Group Services in the Financial Services Industry
Shefali Shah & Darshak Pandya – [2024] 169 taxmann.com 199 (Article) 1. Global value chains and Intra-group Services (IGS) In the recent competitive environment, Multinational Enterprises (MNEs) in the financial services industry (FSI) have been striving to attain several business objectives, amid volatile macro-economic conditions. Globalization has led to the formation of global value chains […]
MMR Includes Surcharge for Highest Income Slab Despite Assessee’s Income Being Below Rs. 50 Lakhs | ITAT
Case Details: Clestra Foundation vs. ITO - [2024] 169 taxmann.com 46 (Bangalore-Trib.) Judiciary and Counsel Details Ramit Kochar, Accountant Member & Keshav Dubey, Judicial member Ravindra T., A.R. for the Appellant. Ganesh R. Ghale, Standing Counsel for the Respondent. Facts of the Case The assessee, a private trust, e-filed its return of income for the relevant assessment […]
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