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Abhishek Raja "Ram"

@abhishekrajaram

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HC directed dept. to hear appeal belatedly filed against GST cancellation after filing of returns & payment of tax on merits.

about 3 years ago

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A comprehensive guide to Indian Income Tax notices

📢 A comprehensive guide to Indian Income Tax notices: 1. Notice u/s 143(1) - basic assessment 2. Notice u/s 143(2) - scrutiny assessment 3. Notice u/s 148 - reopen assessment 4. Notice u/s 245 - set off 5. Notice u/s 264 - rectification More details in the thread👇

about 3 years ago

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Ex-parte order passed solely based upon SIB report without providing report or hearing opportunity to be set aside: Allahabad High Court for more details check this twitter.com/abhishekrajaram/status/1648496140508348417

about 3 years ago

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⚖️ Avoid costly tax mistakes! Discover lessons from high-profile litigation cases to protect your business. 💼 💡 Learn from the giants: high-profile tax litigation cases and their valuable lessons. Understanding these cases can help you improve your tax strategy and avoid potential pitfalls. 🔸 Case 1: Vodafone International Holdings vs. Union of India The Vodafone case deals with a $11 billion acquisition, focusing on the importance of tax planning in cross-border transactions 🌏 ↪️ Lesson: Proper tax planning and documentation are critical for both international and local transactions. For example, Hutchison Essar's indirect sale to Vodafone had significant tax implications. 🔸 Case 2: Nokia India Pvt Ltd vs. The Deputy Director of Income Tax The Nokia India case involves a dispute over royalty payments and showcases rigorous transfer pricing scrutiny 📊 ↪️ Lesson: Ensure compliance with transfer pricing regulations and maintain meticulous records. Companies like Nokia faced a $400 million tax dispute due to inadequate transfer pricing policies. 🔸 Case 3: Shell India Markets Pvt Ltd vs. Income Tax Appellate Tribunal The Shell India case demonstrates the impact of share valuation on tax implications in foreign investment 💰 ↪️ Lesson: Evaluate the tax implications of foreign investment, and confirm transactions comply with tax laws. A $2.8 billion tax demand was negated when Shell India won the transfer pricing case. 🔸 Case 4: Cairn Energy vs. Government of India The Cairn Energy case emphasizes the significance of capital gains tax management with a $1.2 billion arbitration award 📈 ↪️ Lesson: Be aware of capital gains tax requirements and how they impact your company. Cairn Energy faced major tax hurdles due to India's retrospective tax law changes. As we analyze these high-profile cases, we can gain valuable insights to refine our tax strategies and minimize litigation risks. What other high-profile cases have you come across? Share your thoughts and experiences below! 👇 📚 Let's learn from these cases and build a stronger tax foundation for our businesses. For advanced tax planning and advice, connect with me today!

⚖️ Avoid costly tax mistakes! Discover lessons from high-profile litigation cases to protect your business. 💼 💡 Learn from the giants: high-profile tax litigation cases and their valuable lessons.

about 3 years ago

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Income Tax Return filing Step by Step Guide

Ready to file your Indian Income Tax Returns? 📝 Keep calm, we've got you covered! Follow this step-by-step guide to navigate the process with ease:

about 3 years ago

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Key points of Rajasthan AAR Ruling in Airport Authority of India, Jaipur, Rajasthan Ruling for sale of airport to Adani

Transfer of airport operations by AAI to Adani exempt, however, salary cost reimbursement is taxable at 18% - Rajasthan AAR in re Airports Authority of India, Civil Airport Road, Jaipur [RULING NO. RAJ/AAR/2022-23/25, Dated 20-Mar-2023] Summary of the ruling:

about 3 years ago

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Crackdown on Cyprus-based firm for online betting, evading GST payment

Crackdown on Cyprus-based firm for online betting, evading GST payment The Directorate General of GST Intelligence has taken action against a company registered in Cyprus going by the name of 'Parimatch', which was running online betting and gambling operations in India.

about 3 years ago

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Finance Act 2023-2024 is notified

[img:fxxk64I8h]The Government of India has notified the Finance Act, 2023 (the Finance Act) on 31 March 2023 to give effect to the financial proposals of the Central Government for the financial year 2023-2024.

about 3 years ago

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Here are five ways to save income tax legally in India:

Here are five ways to save Income Tax legally in India presuming Old Income Tax Regime: 1) Save tax under Section 80C, Section 80CC, and Section 80CCD by investing in financial instruments such as Public Provident Fund (PPF),

about 3 years ago

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Reversal of ITC at midnight during search and seizure operation can't be treated as voluntary payment: Gujarat High Court

Reversal of ITC at midnight during search and seizure operation can't be treated as voluntary payment: Gujarat High Court in SHREE GANESH MOLASSES TRADING CO.vs SUPERINTENDENT, OFFICE OF THE COMMISSIONER (R/Special Civil Application No. 4026 of 2022, decided on 18-1-2023)

about 3 years ago

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