♦ On 4th March, 2022, the Ministry of Corporate Affairs (MCA) has issued the Limited Liability Partnership (Second Amendment) Rules, 2022 which is yet to be published in the Official Gazette. ♦ There are some major changes which are brought by such amendment and it is very important to note such changes. ♦ Following are the […]
It’s that time of the year when you need to invest in different investment products to enable tax savings for FY 2021-22 OR else regret after March that you did not utilize the benefit of various deductions available for you Now a days, nobody wants to invest just for Tax savings, everybody wants such investment […]
Loop Telecom and Trading Limited Vs Union of India (Supreme Court of India) Hon’ble SC observed that the appellant was in pari delicto with DoT and the then officials of the Union government. The appellant was the beneficiary of the ‘First Come First Serve’ policy which was intended to favour a group of private bidding […]
Varun Beverages Limited Vs Commissioner of Central Excise & Service Tax (CESTAT Delhi) The preliminary objection by the appellant is that a show cause notice (SCN) dated 10 February 2016 was issued by the Department demanding duty short paid by irregularly availing exemption under Notification No. 1/2011-CE along with interest and penalty. The present show […]
Income from contract farming done by assessee cannot be treated as agricultural income and that the assessee is not eligible to claim exemption under section 10(1) in respect of such income.
Supreme Court reviews IBC amendments, settling disputes between home buyers and builders. Case highlights legislative intent and project completion.
Khyati Ispat Private Limited Vs Principal Commissioner (CESTAT Delhi) The facts of the case, in brief, are that M/s Khyati Ispat Pvt. Ltd., Raipur3, is a private limited company engaged in manufacture of Iron and Steel products, such as, angles, channels & joists falling under Chapter 72 of Schedule II to the Central Excise Tariff […]
Jai Singh Goel Vs Chief Commissioner of Income Tax (Central) & Anr. (Delhi High Court) Impugned Order dated 21.08.2018 rejects the application of the petitioner seeking compounding of offence on two grounds: 1) That the application has been filed beyond the period of limitation; 2) The petitioner already stands convicted by the Competent Court. As […]
Sri. Yeruva Prasad Vs ACIT/DCIT (ITAT Bangalore) The amended provisions of section 43B as well as 36(1)(va) of the I.T.Act are not applicable for the assessment years under consideration i.e. 2018-19 & 2019-20. By following the binding decision of the Hon’ble jurisdictional High Court in the case of Essae Teraoka Pvt. Ltd Vs. DCIT (supra), […]
Mithila Drugs Pvt. Ltd. Vs. Commissioner, Central Goods and Service Tax,(CESTAT Delhi) CESTAT finds that the payment of CVD and SAD subsequently during GST regime, for the imports made prior to 30.06.2017 is not disputed under the advance authorisation scheme. It is also not disputed that the appellant have paid the CVD and SAD in […]
