Gujarat High Court held that coercive recovery during the course of search without following instruction no. 01/2022-23 dated 25th May 2022 issued by the Board is bad in law and liable to be refunded back with interest.
ITAT Mumbai held that disallowance for deduction under section 80IB and 80IC of the Income Tax Act corresponding to the allocation of R&D expenditure is deleted.
HC affirmed order of detention of goods and imposition of tax and penalty, on grounds that assessee was transporting huge quantity of goods without e-way bill by reducing value of goods below threshold limit.
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 define ‘Listed Entity’ as entity which has listed, on a recognized stock exchange(s), the designated securities issued by it or designated securities issued under schemes managed by it, in accordance with the listing agreement entered into between the entity and the recognized stock exchange(s).
Delaware Franchise Tax is an annual tax imposed by the state of Delaware on businesses that have been incorporated or organized in Delaware. The tax is based on the value of the company’s authorized shares, which is the total number of shares that the company is authorized to issue, as well as the par value of those shares.
NCLAT Delhi held that regulation 33 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the operational credit (i.e. the person filing CIRP application) is liable to bear the expense/ fees of Interim Resolution Professional.
Gujarat High Court held that the debts due to Bank – a secured creditor shall be paid in priority over other debts-taxes payable to the State Government.
Madras High Court held that as the petitioner proved that amount payable under the Sabka Vishwas (Legacy Dispute Resolution) Scheme 2019 (SVLDRS) as per form SVLDRS-3 was paid on the due date, however, the amount was credit on the next day i.e. one pay after the due date. The application submitted by the petitioner under SVLDRS should be processed.
Supreme Court of India held that conditions under Section 45 Prevention of Money Laundering Act, 2002 (PMLA) is applicable to Anticipatory Bail application under section 438 of The Code of Criminal Procedure, 1973.
ITAT Mumbai held that stamp duty valuation as on the date of allotment letters, and not the date of execution of agreement to sell, should be considered for the purpose of section 56(2)(x) of the Income Tax Act.
