News

ICSI has requested MCA to extend the FY2024-25 annual filing deadline due to persistent technical issues on the MCA-21 V3 Portal.

ICSI Urges MCA to Extend FY2024-25 Annual Filing Deadline Amid MCA-21 V3 Portal Glitches

Articles

CGST Tax Authorities Raises Demand Order on UltraTech Cement Alleging Short Payment and ITC Irregularities

UltraTech Cement Receives Rs. 390.95 Crore GST Demand Order from Patna Tax Authority

UltraTech Cement Receives Rs. 390.95 Crore GST Demand Order from Tax Authority

SEBI clarified that there has been no change in the existing short-selling regulatory framework.

SEBI Issues Clarification on Misreported Short-Selling Changes

ITAT upheld 8% presumptive profit for AY 2015-16 and partly allowed relief for AY 2020-21 by taxing genuine contract receipts on a presumptive basis while denying unproven deductions.

ITAT Upholds 8% Profit Estimation for AY 2015-16; Grants Partial Relief for AY 2020-21

Judgement

The Tribunal agreed with the contention of the assessee and held that even if the assessee is is AOP, only the surplus part can be taxed, not the full gross receipts.

Only Surplus Can be Taxed, Not Full Gross Receipts: ITAT Gives Relief to AOP

Presumptive Taxation Cannot Include Statutory GST Component; Coordinate Bench Decisions Followed

GST Not Part of Gross Receipts Under Section 44BB: ITAT Mumbai

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