ELITEMENTOR GLOBAL CONSULTANCY PRIVATE LIMITED’s Post

TAXO Update - JUDGMENTS IN GST  Section 129(3) mandates that an order for penalty must be passed within seven days of serving the notice of detention: Patna High Court         Citation: 2024 Taxo.online 2238                                              Read More: https://lnkd.in/gduPsav4 #gst #gstupdates #dailynews #accountant #ca #taxoonline #judgements #latestnews

Hon'ble Delhi Tribunal Quashes Time-Barred Section 153C Reassessment Proceedings for AY 2011-12 and 2017-18. Victory for the Assessee as the Tribunal Invalidates the Notice Due to Lack of Adequate Justification. Argued by Mr. S S Nagar (CA). . . . #TaxLaw #LegalUpdate #IncomeTax #TribunalRuling #Reassessment #CorporateLaw #LegalVictory #Taxation #Finance #CACommunity #LawAndOrder #TaxUpdates #ProfessionalServices #BusinessLaw #Compliance

💡 Attention #Employees: Important #TDS Update from #Bombay High Court! 💡 The Bombay High Court on Wednesday ruled that employees are not responsible for unpaid TDS (Tax Deducted at Source) if their employer, undergoing insolvency under the Insolvency and Bankruptcy Code (#IBC), fails to deposit it. This decision is a major #relief for employees who received tax notices despite TDS being deducted from their #salaries. The #court clarified that the responsibility to deposit TDS lies solely with the employer, ensuring that employees will not be penalized for their employer’s non-compliance. 📌 What you need to know: ✔ If your employer has deducted TDS but failed to deposit it due to insolvency, you are not liable. ✔ The ruling protects employees from paying taxes that have already been deducted from their earnings. Stay aware and ensure your rights are protected under this crucial ruling! ⚖️ #TaxUpdate #TDSRelief #EmployeeRights #Insolvency #IBC #Compliance #BombayHighCourt #Management #DigitalMarketing #Careers #SocialMedia #Innovation #Leadership #linkedin #onenesscomplianceconsulting Oneness Compliance Consulting India

"Penalty orders must be timely! 🕒 The Patna High Court rules that orders passed beyond 7 days after the notice are not valid under the CGST Act. Learn how M/s Kedia Enterprises' delayed penalty order was deemed unsustainable and why timely compliance is crucial for tax proceedings. ⚖️ #GSTLaw #TaxPenalty #LegalRulings #PatnaHighCourt #CGSTAct #BusinessCompliance"

Hon'ble Delhi High Court in Technosys Security System Limited vs Commercial Taxes (Writ Petition No.13618 and 13667 of 2023 dated 5 December 2023) gave the under mentioned decision Opportunity of hearing is required to be given even in those cases where no request is made by assessee but adverse decision is contemplated against him. #incometaxindia #taxmatters #taxconsultant #internalaudit #internalcontrols #taxconsulting #taxaudit #financeprofessionals #financeandaccounting #kpmg #kpmgtax #kpmglaw #icai #cma #charteredaccountants #charteredaccountant #finance #companysecretary #audit #auditors #statutoryaudit #incometax #financialadvice #analytics #riskmanagement #ca #microfinance #law

E-Way bills are documents of title to goods and, Hence, where e-way bills were accompanying goods, conclusion of revenue that assessee was not owner of goods was penalty erroneous and, accordingly. impugned penalty order passes under section 129(1)(b) was to be set aside when there was no intention to evade tax. refer Case Hon'ble Allahabad High Court Sanjay Sales Agency vs State of U.P. Writ Tax No.1147 of 2023 dated 9 October 2023. #incometaxindia #taxmatters #taxconsultant #internalaudit #internalcontrols #taxconsulting #taxaudit #financeprofessionals #financeandaccounting #kpmg #kpmgtax #kpmglaw #icai #cma #charteredaccountants #charteredaccountant #finance #companysecretary #audit #auditors #statutoryaudit #incometax #financialadvice #analytics #riskmanagement #ca #microfinance #law

In a recent judgement, the Hon'ble Madras High Court quashed an unlawful demand of GST on other state's turnover in Tamil Nadu. The "authorities had imposed the demand on the complete turnover of the company, solely because the financials didn't have state-wise turnover." This emphasizes that tax liability cannot be arbitrarily imposed based on unavailability of state-wise turnover in financials. #gst #law #tax #turnover #financialstatement #India #Customs #easeofdoingbusiness #compliance Monu Taxak Bharat Anjana Kriti Agrawal Adv. Khushi Agrawal

In a landmark decision, the Madurai Bench of the Madras High Court quashed a GST detention order, highlighting the violation of natural justice principles. The court ruled that the department's action of issuing notice, conducting inspection, and passing the order on the same day was unjust. This case emphasizes the importance of due process in tax compliance. #justiceprevails #gst #madrascourt #taxlaw #fairtrial #legalrights #compliance

In Shiv Kumar Deora v. Union of India, the Jharkhand High Court (JHC) ruled that GST officers must not compel summoned individuals to provide statements after office hours under the CGST Act, 2017. The JHC emphasized adherence to protocols, referencing constitutional rights to privacy and protection against self-incrimination (a. 21 and a. 20(3) of the Constitution, respectively). This decision underscores the need for law enforcement to respect legal boundaries during investigations, highlighting a significant safeguard for the rights of individuals during tax inquiries. The JHC also noted exceptions under specific circumstances where the risk of the summoned individual absconding is evident. Read the full analysis by our associate Ms. Aishwarya Pawar here: https://lnkd.in/g2zKznKG #MetalegalAdvocates #MetalegalCourtRuling #JharkhandHC #GST #TaxInvestigation #ConstitutionalRights #RightToPrivacy #CGSTAct #LegalAnalysis

Understanding the pivotal role of PAN cards in India 🌐💼 From facilitating investments to ensuring compliance with taxation laws, here’s why having a PAN card is crucial for Non-Resident Indians navigating the Indian financial landscape. 💰📈 Book a free consultation today! Send your queries to query@legalhelpnri.com and follow @legalhelpnri for informative content. #nri #law #legal #postoftheday #NRIInvestments #TaxCompliance #FinancialAccess #PANCardEssentials #IndianFinance #GlobalInvesting #TaxationLaws #FinancialFreedom #NRIWealthManagement #InvestmentOpportunities