Revenue or Capital Expenditure? The Apex Court in Empire Jute Co. Ltd. vs Commissioner Of Income Tax offers its verdict – learn more in this blog post!
Find out if Goods and Services Tax (GST) is applicable to Advocates and legal services. Senior Advocates, law firms, and all other types of legal services provided are subject to GST when the entity has an aggregate turnover of Rs. 20 lakhs or more. Learn more in this blog post!
ITAT Rajkot held that in absence of any specific provisions under the Income Tax Act, notional income on advance cannot be brought to tax. Accordingly, addition deleted.
NCLAT Delhi held that as per provisions of section 31 of Insolvency & Bankruptcy Code, 2016, Adjudicating Authority is empowered to either accept or reject the resolution plan. Adjudicating Authority is not empowered to modify/ alter the conditions in the resolution plan.
ITAT Mumbai held that set-off of losses when there is a change in shareholding involves interpretation of various provisions and laws and hence it is not a mistake apparent from record. Accordingly, rectification power under section 154 cannot be invoked.
Expenditure incurred for construction of new facility & subsequently abandoned is allowable Revenue Expenditure: ITAT Hyderabad
Understand the applicability of Reverse Charge on exempt services under GST. Get guidance on RCM when the supplier is exempt from tax.
Can Capitalism bring inclusive growth? Answer: Yes, capitalist systems can create jobs, generate wealth & stimulate innovation to benefit a large range of people. Find out more in this blog post!
DTA units will be required to register with regional STPI under ‘non-STPI category’ and required to submit the SOFTEX Forms on periodical basis. For Registration application required to be submitted online with the requisite fee and usually the same is approved within a period of ten working days.
ABB Global Industries Vs Union of India (Karnataka High Court) Karnataka High court In case of ABB Global Industries and services Pvt Ltd, Quashed the order passed by the PO on reason of natural justice , as petitioner requested additional time for hearing , PO rejected and passed the order FULL TEXT OF THE JUDGMENT/ORDER OF […]
