Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2024-25) All Government transactions done by agency banks for the ...

The move is expected to streamline trade settlements and reduce dependency on third-party currencies. The circular, issued under Sections 10 (4) and 11 (1) of the Foreign Exchange Management Act (FEMA ...

The quantum of carry forward losses under the Income Tax Act, 1961. 2. A breakdown of losses by specific categories. 3. Applicable time limits for utilizing these losses. 4. A statement specifying if ...

Citing legal provisions, CAAR Mumbai upheld its decision to reject the application, emphasizing that a ruling on the matter was already under judicial review. The case underscores the limitations of ...

CAAR Mumbai noted that the case bore strong similarities to the ruling by the Customs, Excise, and Service Tax Appellate ...

However, CAAR Mumbai examined the technical specifications and observed that similar classification issues had already been addressed in prior rulings. The authority referred to the case of M/s.

In conclusion, CAAR Mumbai formally rejected the application and disposed of the case, underscoring that legal provisions prevent duplicate proceedings on the same issue. The decision highlights ...

Mumbai, addressed Apple India Private Limited’s application for renewing an earlier advance ruling on the classification of ...

Delhi High Court dismissed the writ as no question of law arises since ITAT duly confirmed addition by treating share application money as sham transaction. Accordingly, writ disposed of.

The present appeal has been filed by the assessee, against the order dated 19.03.2024, passed by Principal Commissioner of Income Tax (‘PCIT’ for short), Mumbai u/s. 263 of the Income Tax Act, 1961 ...

ITAT Ahmedabad held that assessment order passed u/s. 143 (3) is neither erroneous nor prejudicial to the interest of revenue. Hence, revisionary jurisdiction u/s. 263 of the Income Tax Act not ...

Gujarat High Court held that voluntary addition offered during hearing of the application u/s. 245D (4) cannot be equated with revision of application of disclosure made u/s. 245C (1) and hence no ...