"27 March 2021" Archive - Page 4

Status of Vodafone-Idea Post Merger & SC Order on AGR Dues; Strategies adopted to revive company

After the merger of two big Telco’s namely Vodafone & Idea, the combined entity looked strong with over 35% market share in the wireless telecom market (being the largest player in the market in terms of market share). But the merger did not yield benefits to the combined as expected owing weak financial position of the combined entity ...

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Posted Under: Finance |

Drawback at All industry rate of value of exported goods was allowable

Messrs Mahalaxmi Rubtech Ltd. Vs Union of India (Gujarat High Court)

Messrs Mahalaxmi Rubtech Ltd. Vs Union of India (Gujarat High Court) Conclusion: Since in the present case, the amendment of shipping bills by converting them into Drawback shipping bills was possible on the basis of the documentary evidence which was in existence at the time the goods were cleared for export and the benefit of […]...

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Article 137 of Limitation Act will govern the limitation period u/s 11 for appointment of arbitrator

Bharat Sanchar Nigam Ltd. Vs Nortel Networks India Pvt (Supreme Court of India)

Notice invoking arbitration was issued 5 1/2 years after rejection of the claims on 04.08.2014. Consequently, the notice invoking arbitration was ex facie time barred, and the disputes between the parties could not be referred to arbitration....

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Only profit embedded in undisclosed turnover can be brought to tax

Alokik Steels Pvt. Ltd. Vs PCIT (ITAT Jaipur)

Alokik Steels Pvt. Ltd. Vs PCIT (ITAT Jaipur) The question that still looms large is where the assessee has disclosed gross profit of 3.11% on Rs.1,77,95,858/- and which has been accepted by the AO, how the order so passed by the AO is held as erroneous and prejudicial to the interest of Revenue by the […]...

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June 2021