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Archive: August, 2023

Posts in August, 2023

Tata Power’s Service Connection Application to be Considered Without Arrear Payment: NCLAT

August 30, 2023 666 Views 0 comment Print

NCLAT rules in favor of Tata Power, stating no arrears payment needed before the date of Resolution Plan approval against Jagannath Sponge Pvt Ltd.

ITAT Quashes Revision Order: Auditor’s Mistake in Tax Audit Report

August 30, 2023 2586 Views 0 comment Print

Analysis of the ITAT Ahmedabad’s ruling on Bharatbhai Makwana Vs PCIT. Delving into the implications of incorrect terminologies in tax audit reports relating to granule purchases.

Reselling of Hardware and Software Not ‘Royalty’ under India-Singapore DTAA

August 30, 2023 615 Views 0 comment Print

ITAT Delhi rules that receipts from reselling hardware and software packages by Avnet Asia Pte Ltd aren’t considered ‘Royalty’ under India-Singapore DTAA.

Madras HC Orders Expedited Release of Goods under Customs Act Section 110A

August 30, 2023 723 Views 0 comment Print

Highlighting Madras High Court’s verdict on Harees Infotech’s plea for the provisional release of imported goods under Section 110A of the Customs Act, 1962.

ITAT Mumbai Directs Readjudication on FTS Tax Deduction for AO’s Oversight

August 30, 2023 432 Views 0 comment Print

ITAT Mumbai’s ruling in Spark44 vs. ACIT case highlights failure to consider India UK DTAA provisions for tax deduction on FTS. Analysis and conclusion included.

CESTAT Quashes Excise Duty Demand on Third Party Inspection Charges

August 30, 2023 492 Views 0 comment Print

In Transformers & Rectifiers India Ltd vs. C.C.E.-Ahmedabad-ii case, CESTAT Ahmedabad rules that third-party inspection charges are not part of assessable value. Analysis and conclusion included.

NCLAT Dismisses Kotak Mahindra’s Appeal: Scope Limited After ‘Approval of Resolution Plan

August 30, 2023 819 Views 0 comment Print

NCLAT Chennai dismisses Kotak Mahindra Bank’s appeal in the Orchid Pharma case, affirming limited authority post approval of resolution plan. Analysis and conclusion provided.

Minority Shareholder cannot challenge Director Induction if not attended Board Meetings

August 30, 2023 960 Views 0 comment Print

A deep dive into NCLAT Chennai judgment on minority shareholder rights & Board Meetings in case of Radhakrishnan Babu Nirmala Vs Precise Limbus Eye Care.

Late TDS Deposit Interest not deductible as Business Expenditure

August 30, 2023 1008 Views 0 comment Print

Analysis of Shiva Pharmachem Ltd vs. DCIT case where ITAT Ahmedabad rules no disallowance under section 14A of Income Tax Act without any exempt income. Full text of ITAT order included.

No Extended Limitation When Details Transparently Shared in ST-3 Returns

August 30, 2023 1053 Views 0 comment Print

Detailed examination of the CESTAT Ahmedabad ruling in the case of Arya Logistics versus C.C.E. & S.T.-Rajkot on service tax liability & limitation period.

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