Services rendered by the respondents to M/s SB Plc, UK constitute export of service as the services were utilized by a company situated outside India and used outside India and the principal was located outside India with whom there was contract of service and such principal had paid for such services to the respondent in convertible foreign exchange.
Addition under Section 153A could not be made in the absence of incriminating material found during the course of a search conducted under Section 132. In case no incriminating material was unearthed during the search, AO could not reassess taking into consideration the other material in respect of completed assessments/unabated assessments.
Bombay High Court acquits CA Gordhanbhai Madhabhai Savalia, citing inordinate delay, lack of evidence, and legal complexities in professional misconduct case.
ITAT Delhi rules addition u/s 69A for excess jewelry during a search operation unsustainable as the assessee belonged to a wealthy family and received jewelry on occasions
Stay informed about the latest IFSCA circular amending reporting norms for Fund Management Entities. Quarterly reporting now mandatory. Read the details here
Introduction: The Ministry of Finance, Department of Economic Affairs, issued a significant notification on November 3rd, 2023. This notification, G.S.R. 818(E), introduces amendments to the National Savings Recurring Deposit Scheme 2019. The amendments encompass changes in repayment amounts, maturity periods, and provisions for legal heirs or nominees. In this article, we will delve into the […]
Cenvat Credit on Input or Capital Goods could not be denied merely for showing tubes and flaps separately in invoices. Moreover, tubes and flaps were used in the manufacture of the tyres and as such qualify to be “inputs” given the definition given under Rule 2(k) of CCR, 2004.
Delhi High Court held the reassessment proceedings under section 148 of the Income Tax Act as liable to be set aside as AO failed to demonstrate that explanation given by the assessee was deficient.
Get insights into GST implications on lease renewal and premium payments. Key rulings on Reverse Charge Mechanism, collection from shareholders, and more.
Applicant before us is not supplier of service and that ruling sought is not for admissibility of input tax credit in respect of supply received by applicant.
