Explore proposed sweeping changes in the Insolvency and Bankruptcy Code (IBC) 2016 by the Ministry of Corporate Affairs. The changes aim to enhance transparency, incorporate technology, empower authorities, and streamline processes. Key proposals include redesigning fast-track CIR processes, addressing real estate cases, equitable distribution of proceeds, granting more powers to authorities, relaxing pre-pack procedures, mingling assets of CD & guarantor, and introducing an electronic platform.
The department had challenged the order passed by Tribunal, Mumbai wherein, the tribunal, inter alia, held that the activity of digital offset and offset printing amounts to manufacture and the same is classifiable under heading chapter 4911 of the Central Excise Tariff.
HC lambasts AO for passing order which shows total non application of mind and not granting opportunity of hearing to petitioner in violation of section 75(4) of CGST Act.
SC held that the activity of digital offset and offset printing amounts to manufacture and same is classifiable under heading chapter 4911 of Central Excise Tariff.
So far as the penalty is concerned on such refundable amount, petitioner is not liable to pay the same since admittedly the respondent/revenue authorities’ own case is that the amount of refund in question was paid to the petitioner due to mistake on their part and for no fault on the part of the petitioner.
Authority concerned to revoke the impugned order of cancellation of GST registration immediately, if petitioner pays interest and penalty within two weeks from date.
CESTAT Held that, installation of ‘thermal insulation’ is a covered under definition of Works Contract Service & therefore, Service Tax is not demandable.
Lakshya Vintrade Private Limited Vs Union of India And Ors. (Calcutta High Court) The sole ground by the petitioner for challenging the impugned order under Section 148A(d) of the Act is that the same is not a speaking order and the reasons recorded therein are not well-reasoned and satisfactory which according to me cannot be […]
Adjudication in civil matters is based on preponderance of probabilities whereas adjudication in criminal cases is based on the principle that the accused is presumed to be innocent and the guilt of the accused should be proved to the hilt and the proof should be beyond all reasonable doubt.
PCIT Vs Steel Authority of India Ltd. (Delhi High Court) Undisputedly, the departmental authorities have disallowed the CSR expenses, firstly, on the reasoning that it is of capital nature, and secondly, it is not incurred wholly and exclusively for the purpose of business. As per section 135 of the Companies Act, 2013, every company having […]
