Home Highlights May 2013 Year 2013 This

You may also like:

1. This order authorizes Income-tax authorities to admit applications or claims for refund and carry forward of loss u/s 119(2)(b) of the Income-tax Act, 1961. It...

2. Interest on belated deposit of admitted tax in instalment u/s 80 read with Rule 158 - the Commissioner is not conferred with power to allow such instalment in respect of...

3. The appeal challenged the maintainability of an application filed u/s 60(5) of the Insolvency and Bankruptcy Code seeking refund of an amount deposited as part of a...

4. Penalty u/s 271B - no tax audit conducted u/s 44AB - bonafide belief - When Gross profit is more than Rs.4 crores, it means the Gross Receipts were definitely more than...

5. Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

6. Condonation of delay in filing the revised return of income claiming refund - application filed u/s 119(2)(b) rejected - “genuine hardship” - The Orissa High Court ruled...

7. The High Court held that the delay of 80 days in filing the Return of Income should be condoned as the petitioner faced genuine hardship due to valid reasons arising...

8. Stay of demand - ACIT requiring to deposit 20% of the outstanding demand - only in ‘exceptional circumstances’ the discretion of the AO could be interfered with by the...

9. This order u/s 119(1) of the Income-tax Act, 1961 specifies the monetary limits for income-tax authorities to exercise their powers of reduction or waiver of interest...

10. Free call services provided to employees by cellular companies - pre deposit ordered by the CESTAT to the extent of Rs. 80 crores reduced to Rs. 25 crores. - HC

11. Sub-section (1) in Section 5 amended to not levy integrated tax on Extra Neutral Alcohol used for manufacturing alcoholic liquor for human consumption. Section 6A...

12. Delay in filing of stay application - There is no time limit prescribed for filing of stay application - where the appeal is filed in time, stay application should be...

13. Priority/out of turn hearing of the appeals pending with CsIT (AU) and/or CIT(A) - The judgment by the Madras High Court addressed the petitioner's grievance regarding...

14. Modification of Stay Order - appellant has given un-secured loan and considered to be good to others to the tune of Rs.32.52 crores, which definitely if recovered, can...

15. The National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section...