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Archive: December, 2023

Posts in December, 2023

IGST on reimbursement to overseas entities: HC grants stay to BMW India

December 12, 2023 1461 Views 0 comment Print

The case of BMW India Pvt. Ltd. vs. Union of India (UOI) and others, as heard in the Punjab and Haryana High Court, revolves around the imposition of Integrated Goods and Services Tax (IGST) on amounts reimbursed to overseas entities for services rendered.

Personal hearing not afforded: HC set aside Section 148A(b) order & 148 Notice

December 12, 2023 1554 Views 0 comment Print

Read about Kerala High Court’s decision in Vazhakkulam Block Rural Co-Operative Society Ltd Vs ITO, setting aside Section 148 A(b) Order and Notice due to denial of a personal hearing.

ITAT Decision on Treatment of Loss on Sale of Loans in Clix Finance

December 12, 2023 1578 Views 0 comment Print

Delhi HC ruling on PCIT vs. Clix Finance: Examining tax implications of loan sale, addressing disallowance under Section 14A.

Kerala HC Disposes Writ Petition: GST Appeal Period Extended

December 12, 2023 792 Views 0 comment Print

Explore the Kerala High Court’s disposal of Menacherry Lonappan Jayan’s writ petition citing an extended period for filing GST appeals. Details on Notification No. 53/2023 and the alternative remedy provided.

No Escapement of Income if Subsequent Assessments Taxes Same Amount

December 12, 2023 1077 Views 0 comment Print

If amount already been considered in subsequent assessment years and assessment order has been passed, the question of escapement of income for same amount in previous year will not arise.

Transaction value can be rejected only on extraordinary or special reasons & considerations

December 12, 2023 1200 Views 0 comment Print

Explore the legal battle between Premier Trading Company and Commissioner of Customs (CESTAT Kolkata) over rejected unit value, customs valuation rules, and market inquiry.

Clarification on AIF Regulation 15(1)(c): Applicability of 25% Threshold Limit

December 12, 2023 2322 Views 0 comment Print

SEBI’s interpretation clarifies that concentration limit of 25% in an Investee Company applies at the level of individual Target Companies acquired by ARC Trust.

Playerzpot vs UOI: Bombay HC Admits Petition, Issues Notice on GST Demand

December 11, 2023 1494 Views 0 comment Print

Bombay High Court admits Playerzpot’s petition challenging GST demand, issues notice. Detailed analysis of Rule 31A and CGST Act. Get insights into the legal battle.

Bombay HC grants petitioner liberty to raise all contentions before the CESTAT

December 11, 2023 816 Views 0 comment Print

Bombay HC directs CESTAT examination in Sarla Perf. Fibers vs. Union of India. Legal analysis of anti-dumping duty notifications. Petitioner challenges legality.

Cycle and Rickshaw Tyres and Tubes (Quality Control) Order, 2023

December 11, 2023 1284 Views 0 comment Print

Explore the details of the Ministry of Commerce and Industry’s new order on Cycle and Rickshaw Tyres Quality Control in India. Learn about BIS standards, enforcement, and penalties

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