CESTAT Ahmedabad held that without advancing reasons for doubting or rejecting the load port test certificate, there was no real justification for resort to provisional assessment and drawing of samples. Accordingly, customs duty exemption granted.
CESTAT Hyderabad held that CENVAT Credit in the books of the transferor is duly available to the transferee on account of change of ownership as per Rule 10 of the Cenvat Credit Rules.
Bombay High Court held that AO and the Tribunal have allowed part of the commission payment as business expenditure. However, disallowance of part of commission payment as business expenditure unjustified.
D D & Co. Vs ACIT (ITAT Mumbai) ITAT Mumbai held that for claiming deduction u/s. 57 of the Income Tax Act, it is important to establish that the expenditure is laid out or expended wholly and exclusively for the purpose of making or earning such income. Accordingly, matter remanded to consider the movement in […]
ITAT Delhi held that entire addition towards unexplained investment under section 69 of the Income Tax Act merely on the basis of presumption is unsustainable in law.
Applicability of GST on corporate guarantee wherein related parties are involved and there is no consideration, has been a matter of dispute since introduction of GST.
In this article, we delve into the nuanced aspects of share transfer in a Private Limited Company, from understanding the basic concept to adhering to Articles of Association and following the detailed procedure for a successful transfer.
Know crucial compliance elements for your Annual General Meeting (AGM) to avoid legal repercussions and financial penalties. Detailed guidance from start to finish.
This article delves into the fundamental aspects of not-for-profit companies elucidating their purpose, key features, authorized activities, benefits, and their distinctive role in promoting social welfare. By examining recent legislative developments and exploring the core attributes of not-for-profit companies, this article aims to shed light on their significance in the broader societal context.
Unlock the complexities of mandatory disclosures in the Board Report under the Companies Act, 2013. Delve into comprehensive insights for various company types, ensuring compliance and transparency. Stay informed to enhance corporate governance.
