Explore the evolution of indirect taxation in India. From British-era taxes to the introduction of GST, learn about the transformation of India’s tax system.
51 FAQs on Foreign Exchange Management Act (FEMA), 1999 in India (A) Preliminary + Meanings on FEMA (Chapter-I) 1. Preliminary on FEMA, 1999 (Section-1) FEMA to consolidate + amend (both) for foreign exchange laws with objective of facilitating the external trade + making payment + promoting orderly development + maintenance of foreign exchange market in India. […]
Bombay High Court held that conversion of limited enquiry of classification of goods in respect of Advance Rulings into an appellate enquiry is not permissible to be undertaken in writ jurisdiction.
Calcutta High Court held that passing of an order without allowing the assessee an opportunity of cross-examination of the concerned person is against the principle of natural justice and liable to be set aside.
ITAT Pune held that customs duty drawback relating to preceding assessment years can be written-off ‘as prior period item’.
Bombay High Court held that exercise of power under Article 226 untenable as remedy before Debt Recovery Tribunal available to the petitioner challenging forfeiture of earnest money deposit.
Rifle Factory Co-operative Society Ltd Vs ACIT (Calcutta High Court) Whether demand in pursuance of order of assessment can be pursued without disposing off the petition for stay of demand. The Single Bench of Calcutta High Court in this case was dealing with a situation where without disposing off the petition for stay of demand, […]
Addendum to Notification 2 of 2021: Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Interest income (Abolishing of limit of Rs 5,000/-).
Whether ITAT has the power to entertain additional ground without recording reasons and without following Rule 46A of the Income-tax rules, 1962 and whether jurisdictional issue relating to non issuance of notice u/s 143(2) can be raised at any time?
Bombay High Court held that as arrest memo needs to contain the gist of offence alleged to have been committed Absence of the same, makes arrest memo bereft of necessary particulars. Accordingly, bail granted to the applicant.
