The provisional figures of Direct Tax collections up to 10th November, 2022 continue to register steady growth. Direct Tax collections up to 10th November, 2022 show that gross collections are at Rs. 10.54 lakh crore which is 30.69% higher than the gross collections for the corresponding period of last year. Direct Tax collection, net of refunds, stands […]
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Delhi High Court held that the moratorium will cease to exist once the proceedings under the Insolvency and Bankruptcy Code culminates.
Delhi high court held that there was no new/ fresh material before AO to initiate reassessment proceedings, accordingly, mere change of opinion cannot form the basis for initiating reassessment proceedings
ITAT Bangalore held that revisionary powers u/s 263 of the Act rightly exercised by ld.Pr. CIT as AO failed to discharge his duty. Cash deposited during the demonetization period should be assessed as per CBDT guidelines.
CESTAT Chennai held that as duty was paid under protest period of limitation of one year envisaged in section 27(1B) of Customs Act 1962 will not apply even if refund claim made out of a consequence of judgment/ decree/ order.
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ITAT Mumbai held that Commission to bank on payments received from customers who had made purchases through credit cards is not liable to TDS under section 194H of Act.
NCLAT Chennai held that CIRP plan not approved by minimum 66% of the Committee of Creditors is considered to be failed Resolution Plan and on submission of such failed Resolution Plan the Adjudicating Authority will initiate Liquidation Process.
Karnataka High Court held that Open Purchase Orders are only standing offers and do not constitute a confirmed ‘Agreement to sell’ and movement of goods are mere stock transfers.
