Gross Negligence of Accountant Not a Ground for Condonation: ITAT Dismisses Income Tax Appeal with 477-Day Delay [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) dismissed an appeal filed by a charitable trust with a delay of 477 days and ruled that gross negligence on the part…

Continue ReadingGross Negligence of Accountant Not a Ground for Condonation: ITAT Dismisses Income Tax Appeal with 477-Day Delay [Read Order]

MCA Imposes Penalty on Company and its Directors for Failing to Maintain Active Registered Office as Mandated under Section 12 of Companies Act [Read Notification]

The Ministry of Corporate Affairs ( MCA ) through the Registrar of Companies ( RoC ), Andhra Pradesh has imposed penalties on Vanamali Urban Developers Private Limited and its directors…

Continue ReadingMCA Imposes Penalty on Company and its Directors for Failing to Maintain Active Registered Office as Mandated under Section 12 of Companies Act [Read Notification]

Expenditure Incurred on Leasehold Premises Satisfies Test of Ownership: ITAT Upholds Depreciation Deduction as Capital Expenditure [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the depreciation deduction for improvements made to leasehold premises, dismissing the revenue’s appeal against the deletion of an addition of…

Continue ReadingExpenditure Incurred on Leasehold Premises Satisfies Test of Ownership: ITAT Upholds Depreciation Deduction as Capital Expenditure [Read Order]

MCA Orders Strike-Off of Company for Failing to File Declaration of Commencement of Business Under Section 10A [Read Order]

The Ministry of Corporate Affairs (MCA) has struck off a company for failing to comply with Section 10A of the Companies Act, 2013, which mandates a declaration of commencement of business. The…

Continue ReadingMCA Orders Strike-Off of Company for Failing to File Declaration of Commencement of Business Under Section 10A [Read Order]

No Two Assessment Orders for the Same Tax Period Can Operate Simultaneously: Orissa HC Invalidates Ex Parte Order [Read Order]

In a recent ruling, the Orissa High Court held that two GST ( Goods and Services Tax ) assessment orders for the same tax period cannot operate at the same…

Continue ReadingNo Two Assessment Orders for the Same Tax Period Can Operate Simultaneously: Orissa HC Invalidates Ex Parte Order [Read Order]