CAAR Mumbai clarifies that provisionally preserved betel nuts, treated with preservatives and not fit for immediate human consumption, are classified under Customs Heading 0812, following Chapter note 4’s guidance on provisional preservation.
SEBI conducts an investigation into potential market manipulation of five small-cap company shares via bulk SMSs. Explore the in-depth analysis of the case, actions taken, and cautionary advice for the public.
On June 21, 2023, the Securities and Exchange Board of India (SEBI) issued a new circular laying out the modalities for launching Liquidation Scheme and distributing investments of Alternative Investment Funds (AIFs) in-specie. The circular comes in response to amendments made to the AIF Regulations, which provide AIFs with greater flexibility to deal with their […]
Allahabad High Court in Madhyamik Shiksha Parishad vs. CESTAT, allows revival of appeal before CESTAT subject to payment of Pre-Deposit
SEBI has released a circular outlining a standardized approach to valuation of investment portfolio of Alternative Investment Funds (AIFs). Issued on June 21, 2023
CESTAT Ahmedabad recently ruled in the case of Fiberweb India Ltd Vs C.C.E. & S.T. Daman, shedding light on the limitations of selective departmental audits and customs duty demands.
Understand the implications of the new SEBI regulations that mandate the dematerialization of units of Alternative Investment Funds (AIFs). Explore the deadlines, compliance requirements, and the regulatory backdrop of this transformative move.
CESTAT Ahmedabad ruled in the case of Sujag Fine Chemicals Pvt Ltd Vs C.E. & S.T. Vadodara, opposing the application of an extended period of limitation for a customs duty demand on declared evaporation loss
ITAT Delhi’s ruling in UM Green Lighting P. Ltd vs DCIT emphasizes the supremacy of NCLT’s moratorium under IBC over tribunal proceedings, halting the Revenue’s case during the moratorium period, and underscoring the IBC’s overriding effect.
Landmark case of DCIT Vs Trans Asia Packaging Ltd, where ITAT Delhi provided clarity on transactions post amalgamation under Section 269SS of Income Tax Act
