Learn how interest on un-utilized Input Tax Credit (ITC) under the CGST Act can boost business liquidity and foster economic growth in India.
CESTAT Chennai held that all taxable services provided for the transmission and distribution of electrical energy are exempt from the liability to service tax during the impugned period. Accordingly, demand of service tax, interest and penalty set aside.
ITAT Bangalore held that disallowance of interest u/s. 36(1)(iii) of the Income Tax Act unjustified as interest bearing funds not utilized towards purchase of capital assets (i.e. land).
ITAT Mumbai held that Broadcasting Reproduction Right is not covered under the definition of Royalty under the Income Tax Act as well as Article 12 of the India-USA DTAA.
Government of Himachal Pradesh on 30.09.2023 notifies 3rd phase of legacy scheme named Himachal Pradesh Sadhbhawana Legacy Cases Resolution Scheme, 2023 and the same is applicable for: (a) settlement of any additional demand pending for recovery which is pertaining to a financial year or any return period in respect of which assessment has been made, […]
Explore frequently asked questions (FAQs) about the Indo-Nepal Remittance Facility (INRF) Scheme, including features, limits, documents, and more.
ITAT Mumbai held that “other method” provided in Rule 10AB r.w.s. 92C (1) would be a good substitute for CUP as there is lack of reliable comparables in case of royalty transactions as royalty payments have been made for unique intangibles
Supreme Court held that dividend received by the Indian company having permanent establishment in Oman is not taxable in India in terms of Article 25 read with Article 8 (bis) of the Omani Tax Laws
Supreme Court held that a proviso cannot militate against the intention of the main provision in sub-section (1) of Section 25 of Kerala Value Added Tax Act and thus a proviso cannot extend the limitation period which is fixed under the main provision.
In a significant decision, ITAT Mumbai rules in favor of D.C. Polyester Ltd., stating that penalties under Section 271(1)(c) of the Income Tax Act cannot be imposed for incorrect income head treatment.
