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Archive: 22 June 2023

Posts in 22 June 2023

Need for a Digital Competition Act: Adjusting to the New Normal

June 22, 2023 951 Views 0 comment Print

Explore the need for a Digital Competition Act in the rapidly evolving digital market. Discover the challenges posed by big tech companies, the dominance of digital markets, and potential anti-competitive practices.

ITAT Condones Delayed Appeal due to Tax Practitioner’s Negligence

June 22, 2023 564 Views 0 comment Print

A discussion on ITAT Ahmedabad’s ruling condoning the late filing of an appeal due to the negligence of the tax practitioner, in the case of Sanjeev Harshadrai Sheth Vs ITO.

Delhi High Court Guidelines for Drafting Mediation Settlement Agreements

June 22, 2023 2118 Views 0 comment Print

Delhi HC In Shri Chhatter Pal & Ors. issued guidelines for mediators while drafting Settlement Agreements in cases of matrimonial disputes.

Processing rectification application u/s 154 without giving reasonable opportunity is unsustainable

June 22, 2023 1278 Views 0 comment Print

ITAT Amritsar held that a reasonable opportunity should be given to the assessee before making addition u/s 40A(7) of the Income Tax Act before processing rectification application u/s 154.

When there is a “WILL” there’s a way

June 22, 2023 720 Views 0 comment Print

Discover the significance of having a will in estate planning and asset distribution. Learn how a will can protect your family’s wealth, prevent conflicts, and simplify the process after your demise. Understand the essential elements of preparing a will and ensure your intentions are carried out.

GST: HC Allows Release of Machinery; Legal Challenge to Seizure Legality

June 22, 2023 735 Views 0 comment Print

In the case of DRB Infrastructure Pvt Ltd Vs State of West Bengal, the Hon’ble Kolkata High Court at Jalpaiguri has allowed release of machinery upon furnishing a bank guarantee. The petitioner, a contractor, challenged seizure’s legality, arguing against imposition of a penalty due to absence of an invoice.

Services of extending corporate guarantee without any consideration is not considered as a service

June 22, 2023 1089 Views 0 comment Print

CESTAT Delhi held that no service tax is payable as the assessee did not receive any consideration for providing a corporate guarantee.

Setting up of the GST Appellate Tribunal: Are We Ready

June 22, 2023 2595 Views 0 comment Print

An in-depth examination of the changes introduced to the GST Appellate Tribunal, the implications of these reforms, and the challenges that remain.

Amendment in Export policy of HS Code 2610

June 22, 2023 846 Views 0 comment Print

DGFT Notification No. 13/2023-DGFT amends export policy of items under HS Code 2610, specifically related to Chrome Ore. Understand the revised export policy and policy conditions for different categories.

ITAT allows business Loss as AO Misunderstands INX News’ Business Activity

June 22, 2023 174 Views 0 comment Print

ITAT Delhi allows INX News Pvt Ltd to claim a business loss, asserting the Assessing Officers failure to comprehend the nature of the companys business activity.

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