Welcome to the September edition of the GST Case Law Compendium. In this guide, we tackle key questions about India’s Goods and Services Tax (GST). We explore issues like whether you can be denied a tax credit without a proper investigation, when criminal proceedings can be initiated, and what happens when the Revenue Department seizes goods.
Explore India’s online gaming landscape, including growth factors, regulations, and business opportunities. Stay informed about key laws affecting gaming companies and recent GST updates. Understand the challenges, licensing requirements, and the play-to-play model. Stay updated on regulatory changes for a successful venture in India’s rapidly growing online gaming industry.
ITAT Delhi held that held that benefit of indexed cost of acquisition should be available to assessee based on payments made. Accordingly, AO directed to re-compute gain.
Learn about the concept of Marginal Relief in Indian income tax, how it applies to individuals and companies, and its impact on tax liability.
“Learn how to create a robust ordinary resolution for related party transactions in compliance with Indian corporate regulations. Get expert insights.
ITAT Delhi held that the cash deposited out of sales cannot be treated as income u/s 68 of the Income Tax Act once the sales are not disputed by the revenue.
CESTAT Chennai held that remand order of de novo adjudication being passed after 18 years is liable to be set aside as department failed to explain the humongous delay.
ITAT Mumbai held that loss arising on settlement of contracts has to be treated as speculation loss and speculative losses are not eligible for set off against the non-speculation profit.
ITAT Mumbai held that rate of tax in case of foreign company is higher than rate of tax in case of domestic company and as per the Explanation in the Section 90, inserted in the IT Act with retrospective effect from 01-04-1962 the should not be regarded as violation of nondiscrimination clause.
Read about case of Dexter Biochem’s auditor fined Rs.1,00,000 for non-filing of ADT-3 resignation notice under Section 140(2) of Companies Act, 2013.
