despite remedy of an Appeal under Section 78 of the OVAT Act being available to the Department against the order of the Appellate Authority in favour of the Assessee, the Commissioner could have exercised suo motu revisional power under Section 79(1) of the OVAT Act
petitioner availed input tax credit by fabricating invoices resulting in generation of bills worth Rs.367 crores and evasion from payment of GST to the tune of Rs. 26 crores.
Registrar of Companies removed or strike off the names of 454 Companies as per annexure on this day of 29-03-2023 from Register of Companies
Shree Rishabhdev Marble and Minerals Private Limited Vs Commissioner of Customs (Preventive) (CESTAT Delhi) CESTAT find that the present proceedings before this Court emanate from a letter dated 6.1.2020 which cannot be treated as a proper show cause notice. No reason or evidence to support the allegation has been brought on record by the respondent […]
AO observed that the assessee deposited cash of Rs.17.00 lakh in his bank account on different dates during the demonetization period.
Discover what sets the Insolvency and Bankruptcy Code (IBC) 2016 apart from previous insolvency laws in India. Learn about its organization and time-bound procedures.
Discover the impact of the recent Security Transaction Tax (STT) hike on Foreign Portfolio Investors (FPIs). Explore the background, analysis, and potential relocation scenarios for FPIs in response to the increased STT rates. Disclaimer: This article provides personal views and does not constitute professional advice.
The concept of reverse CIRP is not within the ambit of IBC and it is more of a judicial innovation propounded by the Hon’ble NCLAT. The sole purpose of IBC to rehabilitate the corporate debtor by replacing its management through a resolution plan is not fulfilled with the concept of Reverse CIRP.
Chemplast Sanmar Ltd. Vs Commissioner of Customs (CESTAT Chennai) The appellant had contended before the authorities below that as per Section 83 (3) of Chapter VII , Section 83 (5) of Chapter VII of the Finance Act, 2010, Section 94 of the Finance Act, 2004, Section 138 & Section 139 of the Finance Act, 2007 […]
Munna Singh Ex Sales Tax Officer Vs. State of U.P. (Allahabad High Court) 1. Heard Sri Pradeep Kumar Shukla, learned counsel for the accused-applicant as well as Sri Ratnendu Kumar Singh, learned AGA for the State and perused record. 2. The present bail application under Section 438 Cr.P.C. has been filed by the accused applicant […]
