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The Bangalore ITAT reiterated that the distinction between an employer's contribution which is its primary liability under law, in terms of Section 36(1)(iv), and its liability to deposit amounts...
Hero MotoCorp on Thursday said the Income Tax Department has issued a notice for a total ₹605 crore including interest for six assessment years (FY14 to FY18 & FY20).
Hero Moto Tax Notice: Hero MotoCorp faces a tax demand notice of INR 308.65 crore plus interest from the Income Tax Department for six assessment years. The company plans to appeal against the orders, stating the demand is unsustainable. Despite this, its total sales rose 5.5% in FY24, with motorcycle and scooter sales showing growth.
The Bombay High Court has held that retrospective legislation cannot affect the vested rights of the assessee.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that when the...
The fresh notices for the assessment years 2014-15 to 2016-17 were received on Friday evening after the party attacked the BJP, accusing it of trying to "cripple the process of democracy" ahead of the Lok Sabha elections.