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Archive: 17 May 2024

Posts in 17 May 2024

Incomplete & Inconsistent Test Reports: CESTAT remands case for fresh determination

May 17, 2024 216 Views 0 comment Print

Compelling imperative consequent upon contradictory reports cannot be ignored. For central excise authorities to assume anti­podal positions is neither becoming nor legally proper

Extended period of limitation cannot be invoked solely on audit queries & objections

May 17, 2024 675 Views 0 comment Print

CESTAT held that Department could not solely rely on audit queries and objections to invoke extended period of limitation. It reiterated that appellant, being a Private Limited Company, had its Profit/Loss Account and Balance Sheet accessible as public documents, thus undermining any allegation of suppression.

No Penalty Under Section 271(1)(c) When No Tax is Evaded

May 17, 2024 8061 Views 0 comment Print

Can penalty under Section 271(1)(c) be imposed if self-assessment tax was paid before notice u/s 148? Read the detailed analysis of Smt. Kavita Sachdev Vs ITO (ITAT Indore).

Inordinate delay in adjudication of a show cause notice is fatal to its validity

May 17, 2024 999 Views 0 comment Print

A detailed analysis of the Neelachal Ispat Nigam Ltd. Vs Union of India case from the Orissa High Court. Learn how prolonged adjudication delay can render decisions invalid.

EPFO Clarifies Claim Settlement Without UAN for Death Cases

May 17, 2024 636 Views 0 comment Print

EPFO allows processing of physical claims without Aadhaar in death cases to avoid delays, subject to verification and approval by OICs.

No GST Act Proceedings Against Purchaser for Supplier’s Non-Deposit: Uttarakhand HC

May 17, 2024 21006 Views 2 comments Print

Uttarakhand High Court ruling clarifies that under GST Act Section 74, purchasers aren’t liable if suppliers fail to deposit taxes. Full analysis provided.

SEBI (Listing Obligations & Disclosure Requirements) (Amendment) Regulations, 2024

May 17, 2024 6729 Views 0 comment Print

Stay informed about the latest amendments to SEBI’s Listing Obligations and Disclosure Requirements Regulations, effective December 31, 2024.

Waive of Outstanding Income Tax Demand of earlier years

May 17, 2024 2946 Views 0 comment Print

The CBDT implements the interim budget’s historic announcement of waiving old tax demands up to specified amounts for certain financial years, providing relief to taxpayers.

CAAR Ruling on Import of “Infant milk based formula Aptamil-C Proteq”

May 17, 2024 282 Views 0 comment Print

Read the detailed analysis and ruling by CAAR Mumbai regarding the import of “Infant milk-based formula Aptamil-C Proteq” by Nutricia International Private Limited. Learn about the third-party invoicing model, eligibility for AIFTA benefits, and more.

Bombay HC Quashes Reassessment order which was based on mere GST DGGI information

May 17, 2024 900 Views 0 comment Print

Bombay HC quashes reassessment notice and remands case for fresh consideration. Find out the details of this important legal development.

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