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Archive: 14 May 2024

Posts in 14 May 2024

Interest not chargeable on Unutilized MODVAT Credit Reversal: Gujarat HC

May 14, 2024 432 Views 0 comment Print

Commissioner of Central Excise Vs Gautam Ship Breaking Ind. Ltd. (Gujarat HC): Interest not chargeable on Amount of MODVAT credit, which was lying unutilized and which has been ordered to be reversed

RTI Act Does Not Obligate Public Authorities to Answer Queries

May 14, 2024 2853 Views 2 comments Print

Discover the RTI appeal decision of T Sujesh Nair vs. IBBI, focusing on the scope of RTI Act, 2005, and its application to Registered Valuer Organisations and related queries.

FDI in Real Estate & Hotel Business

May 14, 2024 11022 Views 0 comment Print

A detailed analysis of Foreign Direct Investment (FDI) regulations in India for Real Estate and Hotel Business under the FDI Policy 2020.

Implications of US Investor on Indian AIF

May 14, 2024 3186 Views 0 comment Print

Understand the implications of US investors on Indian Alternative Investment Funds (AIFs), covering registration, exemptions, taxation, and regulatory requirements.

Repatriation of Funds to Non-Residents

May 14, 2024 10119 Views 0 comment Print

Understand repatriation of funds for non-residents and NRIs, including limits, permissions, and taxation implications for remittances from India.

Non-basmati rice export Prohibition: Delhi HC upheld strict interpretation of export policy

May 14, 2024 621 Views 0 comment Print

Delhi High Court dismisses appeal of VI Exports India Pvt. Ltd. for export of banned non-basmati white rice due to non-compliance with notification conditions.

Madras HC: Quashes Demand, No Additions Proposed in Assessment

May 14, 2024 990 Views 0 comment Print

Madras High Court quashes demand in computation sheet and notice, ruling no additions proposed in income tax assessment order.

Madras HC Dismisses WP Against Section 263 Revision Order, Directs Appeal

May 14, 2024 1404 Views 0 comment Print

Madras High Court dismisses writ petition challenging revision order under Section 263 of IT Act, directing pursuit of statutory appeal.

Section 80-O: Mere Newspaper Cuttings not proves Commercial Expertise sharing  

May 14, 2024 588 Views 0 comment Print

Bombay HC in Hindustan Export & Import Corporation Private Limited Vs DCIT held that sharing newspaper cuttings alone did not meet criteria for sharing commercial expertise under Section 80-0 of Income Tax Act, 1961.

Post-Import Advertising Expenses not includible in assessable value for custom duty determination

May 14, 2024 921 Views 0 comment Print

CESTAT Delhi ruled that advertising expenses for post-import goods can’t be part of their value. Detailed analysis of Reliance Brands Luxury Fashion Pvt. Ltd. Vs Principal Commissioner of Customs case.

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