Income Tax : Dive into the Principle of Mutuality, exploring its meaning, tax implications, and impact on cooperative societies. Discover case ...
Fema / RBI : It is felt that enormous powers are conferred on Banks or Public Financial Institutions under SARFAESI Act, 2002 from the stage of...
Finance : I strongly believe that implementing the provisions of the SARFAESI Act, 2002 making a good balance between the object and the int...
Goods and Services Tax : Levy of sales tax on a higher percentage on ‘superior kerosene oil' (SKO) (also called white kerosene oil) and also levy of resa...
Income Tax : For the sake of convenience, the attached tables summarises the valuation rules for all perquisites prescribed in the new rule 3 e...
Income Tax : A dozen private nursing homes and hospitals today lost their approval granted under Section 17(2) of the Income Tax Act on the bas...
Income Tax : ITAT Delhi deleted penalties imposed for alleged cash transactions after holding that the electronic evidence relied upon by the R...
Corporate Law : Bail was granted in a spurious cancer drug case under Prevention of Money Laundering Act (PMLA) as there was no clear link between...
Income Tax : Madras High Court held that capital profit on the sale of the Fixed Assets of the Company cannot be taken directly to the Reserves...
Corporate Law : Paragraph 27AA of the Employees' Provident Fund (EPF) Scheme could not be automatically imposed on establishments exempted under S...
Fema / RBI : The Tribunal held that once allegations of money laundering are established, the burden shifts to the accused. Failure to prove le...
Income Tax : Circular No. 2/2010-Income Tax The Finance Act, 2005 introduced a levy namely Fringe Benefit Tax (FBT) on the value of certain fr...
Income Tax : Notification No. 94/2009 - Income Tax For the purpose of computing the income chargeable under the head Salaries, the value of pe...
CESTAT Chennai held that export benefit cannot be denied unilaterally by the Customs authorities. Thus, unilateral denial of DEPB benefits by Customs authority not justifiable. Accordingly, appeal is allowed and order is set aside.
The Tribunal initiated CIRP under Section 7 after finding undisputed debt exceeding ₹10.91 crore and admission of insolvency by the Corporate Debtor.
Project cost or turnover could constitute a relevant and permissible yardstick for quantification of environmental compensation, provided the determination was reasoned, proportionate and bears a rational nexus to the scale of violations.
The Tribunal held that an appeal should not be rejected merely due to long delay when sufficient cause is shown. It ruled that technicalities cannot defeat substantial justice and restored the matter for decision on merits.
The Tribunal held that overseas shares acquired from reinvested dividends cannot be taxed as undisclosed assets when the source is known and accepted. Mere omission of dividend income does not trigger the Black Money Act’s harsh provisions.
The Court examined whether the Rajasthan ACB could investigate corruption cases against Central Government employees without CBI approval. It held that the ACB has concurrent jurisdiction under the PC Act and such investigations are valid in law.
The ruling clarifies that investigation of corruption offences is not reserved exclusively for the CBI. State police agencies may proceed under the PC Act if statutory rank requirements are met.
Expenditure on tunnel-specific infrastructure was ruled not to give enduring benefit beyond the contract period. The ruling clarifies that longevity alone does not convert temporary project tools into capital assets.
An unregistered Agreement to Sell (A2S) did not prevent recognition of asset transfer in the context of Corporate Insolvency Resolution Process (CIRP) as once consideration was paid and possession transferred
The issue was whether a decree against an HUF can be executed against the Karta’s personal assets. The Bombay High Court held that a Karta has unlimited personal liability for unsatisfied HUF debts, permitting execution beyond HUF assets.
