Sachin. P. Kumar & Associates

Supreme Court Unveils New Lady of Justice Statue: A Symbol of Law and Equality The Supreme Court has unveiled a new Lady of Justice statue in its judges' library, featuring open eyes and holding the Constitution instead of a sword. This significant change, ordered by Chief Justice DY Chandrachud, emphasizes that the law is not blind and rejects the notion of punishment as its sole purpose. Traditionally, the blindfold represented equality before the law, while the sword symbolized authority. The new statue aims to shed the remnants of colonial influence, paralleling the recent replacement of the colonial-era Indian Penal Code with the Bharatiya Nyaya Sanhita. This move reinforces a commitment to justice that transcends wealth and power, reflecting a modern interpretation of legal equality. #LadyOfJustice #ConstitutionFirst #SupremeCourt #EqualityBeforeLaw #BeyondBlindfolds

Directorate General of GST Intelligence #Fake invoicing #ITC wrongful availment #Bail In the captioned case, allegations of creating fake entities and fake invoicing were levelled against the accused and was therefore arrested by DGGI, Pune for alleged violation of sections 132(1) (b) , 132(1) (c) read with section 132(5) of CGST Act 2017.  Initial Bail application was rejected by the court of CJM. Consequently, Bail application was moved before Hon'ble District and Additional Sessions Judge, Pune and it was contended that documents being relied upon by Investigation agency are in the form of electronic ledger etc. and are available on GST portal. So question of tampering of evidence does not arise. It was also argued that the maximum punishment in such cases is 5 years and in such circumstances, the accused is entitled to get Bail. Bail has been granted by he Hon'ble Court and this is one of the few cases wherein the Bail was granted by Addl. Session Judge unlike other cases wherein relief was received from Hon'ble High Courts and Hon'ble Supreme Court only. #Bail is the Rule, Jail is the exception.

Ratan Tata was a visionary leader whose dedication to improving lives left an indelible mark on India and the World. We are deeply saddened by the loss of Shri Ratan Tata . His leadership and values transformed India's industrial landscape. His legacy, innovation, integrity, and philanthropy will continue to inspire us all. May his soul rest in peace! #RIPRatanTata #RatanTataLegacy #LegendNeverDies #VisionaryLeader #InspirationForGenerations #BusinessIcon #Philanthropy #NationBuilder

A three-judge bench of Delhi High Court has ruled that the Multinational Companies (MNCs) having various offices, which are in the nature of ‘permanent establishment’(PE) in India, will have to pay taxes even if the MNCs report losses in the global balance sheets. These PE are held a distinct and separate enterprise from the parent company and the profits received from such PE in India would be taxable in India, despite the fact that the MNCs may have suffered losses in its consolidated statements. For more information contact us on : +919975637699 or visit our website www.sachinpkumar.com #DelhiHighCourt #MultinationalCompanies #PermanentEstablishment #Taxation #CorporateTax #IndiaTaxLaw #GlobalTaxation #BusinessCompliance #TaxRegulations #FinancialReporting #LegalRuling #MNCs #TaxLiability #IndiaEconomy #TaxJustice

The Central Government has notified the direct tax dispute resolution scheme “Vivad Se Vishwas Scheme,2024” which will come into force from October 1, 2024. The scheme is designed to improve the services and reduce direct tax litigation. The scheme can be availed by taxpayers and tax authorities who have filed disputes, appeals before July 22,2024 in the Supreme court, high court,DRP, ITAT and CIT. For more information contact us on : +919975637699 or visit our website www.sachinpkumar.com #VivadSeVishwas #TaxDisputeResolution #DirectTax #TaxLitigation #TaxpayerSupport #GovernmentInitiative #FinancialReform #TaxCompliance #LegalResolution #IndianTaxation #TaxBenefits #SimplifyingTax #TaxScheme2024 #TaxAwareness #VSV2024

The Income Tax Appellate Tribunal, Jaipur Bench, has upheld the Supreme Court's ruling that in the absence of incriminating evidence during a search, the Assessing Officer cannot make additions to regular income items disclosed by the taxpayer in their books of accounts under Section 153A of the Income Tax Act, 1961, for any completed assessments. For more information contact us on : +919975637699 or visit our website www.sachinpkumar.com #ITAT #IncomeTax #TaxLaw #JudicialRuling #TaxAssessment #Section153A #SupremeCourt #TaxDispute #TaxAppeal #TaxCompliance #TaxUpdates #LegalNews

In a recent order, ITAT ruled that where any material is found during the conduct of search at a third person's premises, it should have triggered the initiation of proceedings under Section 153C rather than conducting it under Section 147 of the Income Tax Act. This order may lead to the reopening of assessments that are made under section 147 being deemed invalid. For more information contact us on : +919975637699 or visit our website www.sachinpkumar.com #ITATOrder #Section153C #Section147 #ThirdPartyPremises #ReopeningAssessments #LegalUpdate #JudicialRuling

The Income Tax Department is scrutinizing individuals who sent significant amounts of money to abroad. They are examining Form 15CC for inconsistencies between return of income and foreign remittances. Foreign remittances made through authorized dealer banks are required to submit Form 15CC. Issues with tax collected at source have also been identified. Individuals who sent more than the LRS limit may receive a notice to explain the remittance that are made by them. It is possible for the department to issue a notice under section 133, 143,148 or others, on the reason of overstated or understated remittance amounts when compared to the individual’s return of income. For more information contact us on : +919975637699 or visit our website www.sachinpkumar.com #IncomeTaxNotice #ForeignRemittance #Form15CC #TaxScrutiny #Section133 #Section143 #Section148 #TaxCompliance #LRSLimit

The Kerala High Court has remanded a tax matter back to the Commissioner of Income Tax (International Taxation) after finding that the petitioner was not allowed to be heard. The petitioner had filed a revision under section 264 against an assessment order for cash deposits during demonetization. However, the Commissioner rejected the revision without allowing the petitioner to explain the source of the cash deposits. The Court deemed this a violation of natural justice.    For more information contact us on : +919975637699 or visit our website www.sachinpkumar.com #KeralaHighCourt #TaxDispute #Demonetization #Section264 #HearingOpportunity #TaxRevision #LegalUpdate

✨ We were truly honored to welcome Mr. Meghnand Dungarwal and Ms. Pallavi Salunkhe to the Sachin P. Kumar & Associates office for the Ganesh Utsav celebration! Their presence added immense joy and made the occasion even more special. Thank you for celebrating this auspicious festival with us! 🙏 May Lord Ganesha bless everyone with peace, prosperity, and success. 🌟 Visit us at www.sachinpkumar.com to learn more about our services. #GaneshUtsav #LegalFirm #Celebration #OfficeFestivities #Blessings