TaxTMI | Tax Management India

Disposal of Unmanned Aircraft Systems (UAS)/Unmanned Aerial Vehicles Systems (UAV)/Remotely Piloted Aircraft Systems(RPAS)/ Drones dlvr.it/T7Gmqj #Customs #Circulars #TaxLaws #TaxTMI

ITAT Mumbai allowed the exemption u/s 54 for LTCG as construction not started within 3 years. AO directed to tax only unutilized amount u/s 45. dlvr.it/T7Gjsy #IncomeTax #Highlights #TaxLaws #TaxTMI

ITAT Delhi held that as the assessee lacked books of accounts, Sec 68 doesn't apply. Assessee proved lender's creditworthiness, identity, and transaction genuineness. dlvr.it/T7Gjsg #IncomeTax #Highlights #TaxLaws #TaxTMI

In a case of undisclosed investment in family property, High Court upholds ITAT's decision confirming the addition. dlvr.it/T7GhxV #IncomeTax #Highlights #TaxLaws #TaxTMI

Exemption from specified income U/s 10(46) – ‘Tamil Nadu Water Supply and Drainage Board, Chennai, notified dlvr.it/T7Ghwh #IncomeTax #Notifications #TaxLaws #TaxTMI

ITAT Mumbai allowed 50% deduction u/s 80G for donation exceeding 10% of income to approved educational institution. dlvr.it/T7Gh4t #IncomeTax #Highlights #TaxLaws #TaxTMI

Reassessment Order validity questioned due to CIT(A) errors. AO appeal allowed due to lack of independent decision by CIT(A). dlvr.it/T7Gh4Y #IncomeTax #Highlights #TaxLaws #TaxTMI

ITAT Kolkata held that addition u/s 50C not sustainable as lower authorities failed to refer to DVO for fair property value. dlvr.it/T7Gg0y #IncomeTax #Highlights #TaxLaws #TaxTMI

ITAT Hyderabad directed TP adjustment to be based on transactions with AEs only. Manufacturing segment to consider TNMM, trading segment to consider RPM. Segmentation issue remanded. dlvr.it/T7Gg1D #IncomeTax #Highlights #TaxLaws #TaxTMI

ITAT Chennai held no disallowance u/s 14A r.w.r. 8D as no exempt income earned. Re-examine TDS u/s 195 on technical services considering DTAA. Dismissed prior period expenditure claim. dlvr.it/T7GfCC #IncomeTax #Highlights #TaxLaws #TaxTMI

SERVICE TAX ON COLD STORAGE F Y 16.17 AND 17.18 dlvr.it/T7GWcJ #ServiceTax #DiscussionForum #TaxLaws #TaxTMI

Madhya Pradesh High Court directs release of original documents seized by Respondent, allows cross-examination of witnesses, and ensures principles of natural justice are upheld. dlvr.it/T7Fn1j #GST #Highlights #TaxLaws #TaxTMI

RBI updates Master Direction on Risk Management and Inter-Bank Dealings, including amendments for Standalone Primary Dealers and reporting of derivative contracts. dlvr.it/T7Fmzj #FEMA #Highlights #TaxLaws #TaxTMI

Export of Silk Waste under HS code 5003 requires inspection/test report from Central Silk Board for clearance. Charges borne by exporter. dlvr.it/T7FldQ #Customs #Highlights #TaxLaws #TaxTMI

SEBI mandates PMS distributors to register with APMI for oversight. Effective Jan 01, 2025. Compliance with SEBI regulations. dlvr.it/T7FlbN #TaxLaws #Highlights #TaxTMI

SEBI sets a framework for stock exchanges to supervise Research Analysts and Investment Advisers, effective July 25, 2024, ensuring compliance and efficiency. dlvr.it/T7Fk0y #TaxLaws #Highlights #TaxTMI

SEBI eases rules for fund managers of mutual funds investing in commodities and overseas securities, making appointments optional with expertise requirements. dlvr.it/T7Fk0d #TaxLaws #Highlights #TaxTMI

High Court held that SFIO investigation u/s 212 of Companies Act lacked public interest, causing harm to company. Sanction set aside as arbitrary and illegal. dlvr.it/T7FhC3 #CorporateLaws #Highlights #TaxLaws #TaxTMI

Relaxation granted for changes in Private Placement Memorandum of Alternative Investment Funds without filing through Merchant Banker. dlvr.it/T7FhFp #TaxLaws #Highlights #TaxTMI

SEBI exempts jointly held Mutual Fund folios from mandatory nomination requirement to simplify compliance and reduce costs. Circular effective from April 30, 2024. dlvr.it/T7FfR3 #TaxLaws #Highlights #TaxTMI