CESTAT Chennai held that extended period of limitation not invocable as there is no suppression of facts with the intend to evade payment of tax. Accordingly, order dismissed on the grounds of limitation....

Orissa High Court held that petitioner-dealer has right to cross-examine the selling dealers, however, as more than two decades elapsed it might not be practical. Accordingly, assessment would stand completed at the figures disclosed in the return of petitioner-dealer....

ITAT Pune held that as NFAC dismissed the claim of deduction u/s 80P on legal issue without considering the case on merits, matter remanded back for fresh adjudication....

Presently RSU (Restricted stock unit also known as Sweat Equity) allotted by a foreign grand parent company, free of cost to employee of Indian subsidiary, is being taxed as ‘perquisite’; and for the purpose, the FMV of the ‘vested units’, as on the date of vesting, is considered as the taxable perquisite value....

The time lag must be taken into account for the purchase reconciliations ever since the introduction of GSTR Form 2A and GSTR Form 2B. Even though Forms GSTR-2A and GSTR-2B show the same information, they differ in a number of ways. The distinction between the two forms is outlined below: 1. Statement type: The GSTR-2A […]...

Liaison Office/ Representative office : Liaison office/ Representative office acts a channel of communication /facilitator of trade between the foreign parent company and the market in India. It promote import/export and also facilitate collaborations between parent company and companies in India. Permissible Activities: A Liaison Office ...

The merger and acquisition process involves the formation of a future alliance between two or more companies. A merger leads to the formation of a new company. In contrast, acquisitions result in the acquisition of an existing company by another, and therefore no new company is created as a result. As an emerging market, merger […]...

IPR and the Competition Law are two independent regimes that share a common objective but employ different strategies to get there. They were developed as a result of changes throughout time. IPR's dominant position itself does not violate the Competition Law...

Article discuss about practical implication of claiming of refund for ITC available in Electronic Credit ledger for input and input services used in making supplies to SEZ Unit / Developer if no GST has been charged on invoice....

Exemption from Capital Gains on transfer of House Property – Section 54 (As per Finance Act 2023) 1. Who can avail benefit – Individual and HUF 2. Asset Transferred/Sold – Asset MUST be Residential House Property. 3. Period of Holding– Residential House Property which is transferred MUST be a long term Asset, in other word...