ITAT Mumbai held that amount of compensation for defective product being capital in nature cannot be adjusted from WDV of the assets.
Introduction: The National Financial Reporting Authority (NFRA), under the authority of the Government of India, has issued Order No. 58/2023 dated 29.09.2023, which pertains to the statutory audit of Sobha Ltd for the Financial Year (FY) 2017-18 and 2018-19. The order addresses lapses in the conduct of the audit and charges of professional misconduct against […]
Explore recent changes in GST regulations regarding ocean freight in CIF contracts, including legal challenges and Supreme Court rulings.
CESTAT Delhi held that if the audit points out some wrong assessment which was not pointed out by the officer scrutinizing the ER-1 return, the fault lies at the doorstep of the officer. Hence, invocation of extended period of limitation bad-in-law.
In Gidderbaha vs. Commissioner of CGST & Central Excise Ludhiana case, CESTAT orders reconsideration on merits due to improper rejection based on pre-deposit compliance.
ITAT Mumbai ruling on penalty u/s.271B for non-maintenance of books of accounts by an assessee engaged in trading, financing, realty, and commodities business. Analysis of Varadagovind Parthasarthy Iyer vs ITO case.
CESTAT Chennai’s ruling on penalty under Section 112(a) of the Customs Act for importing Chinese mobile phones. Analysis of K. Natarajan vs. Commissioner of Customs case.
NCLT Delhi held that resolution plan submitted by the Successful Resolution Applicant which was approved by CoC cannot be interfered by Adjudicating Authority. Adjudicating Authority is not empowered to analyse or evaluate commercial decision of CoC.
In absence of evidence and PCA’s registration under Society Registration Act, tribunal found that PCA was not liable to pay service tax under Club or Association Service.
Analysis of Indian Oil Corporation Ltd vs CCEST case where issue of excise duty refund and applicability of limitation under section 11B were discussed. Learn more.
