Jammu Kashmir High Court held that the extended period of limitation as provided under provision to sub -section (1) of Section 11A was not invocable for the simple reason that the twin factors which are sine quo non for invoking the proviso were missing.
Read the advisory issued by ICEGATE regarding the regularisation of Bills of Entry affected by glitches in the ECL facility. Learn about the procedure, timelines, and refund process for interest payments in compliance with the Customs (Waiver of Interest) Third Order, 2023.
When a company is insolvent, it indicates that it is unable to settle its debts with its creditors in a timely manner. When a person or business’s liabilities exceed its assets and income, it is said to be insolvent. When liabilities are totaled up and they are greater than the combined available resources, insolvency results.
Competitive advantage refers to the Unique Attributes, Qualities, Resources, or Strategies that allow an organization to outperform its competitors in the market. It provides an edge that enables the organization to attract customers, generate higher sales, and achieve sustained profitability.
Explore ITAT Raipur’s verdict on tax collection by District Mining Officer (DMO). Understand the implications of not collecting tax at source (TCS) on compounding fees from illegal miners/transporters. Analysis of Section 206C(1C) and obligations under the Income Tax Act.
Discover the impact of India’s ‘angel tax’ modification on startup investments. Analyze arguments for and against the change and explore suggestions for improvement. Learn about enhanced oversight measures and potential effects on reverse flipping.
ITAT Ahmedabad held that transfer pricing adjustment should be restricted only in respect of turnover of assessee-company relating to international transactions. In nut-shell, transfer pricing addition should be restricted only qua international transaction and not entity level transactions.
Gujarat High Court held that rejection of refund claim of unutilized ITC used in making zero-rated supply of goods merely on the ground of technicality unjustified as all the substantive conditions are satisfied.
Read the detailed analysis of ITAT Mumbai’s decision on DCIT Vs ICICI Bank Ltd., addressing disallowance of exempt income, inordinate delay, and the crucial role of interest-free funds.
Explore the Reserve Bank of India’s circular on Compromise Settlements and Technical Write-offs for regulated entities. Learn about the impact, challenges, and potential benefits of this initiative.
