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Archive: 31 May 2024

Posts in 31 May 2024

Courier license cannot be revoked for Omission to Appoint Authorized Person for Courier Bill of Entry 

May 31, 2024 519 Views 0 comment Print

Discover the CESTAT Bangalore judgment on Pigeon International vs. Commissioner of Customs. Analysis of penalties, violations, and conclusions.

CBDT notifies Amendment to Income Tax Form 27Q

May 31, 2024 4317 Views 0 comment Print

Stay updated with Notification No. 48/2024-Income Tax Amendment Rules issued by the Ministry of Finance. Get insights into the latest amendments affecting income tax regulations.

NCLAT Directs NCLT on CoC Reconstitution: Srei Equipment Finance Ltd. Vs Harsh Arora

May 31, 2024 531 Views 0 comment Print

NCLAT directs NCLT to decide on reconstitution of CoC after considering reply in Srei Equipment Finance Ltd. Vs Harsh Arora case. Full text of judgment included.

Expenditure on Leasehold Premises Disallowed by Kerala HC due to Lack of Explanation

May 31, 2024 762 Views 0 comment Print

Read the Kerala High Court judgment on Hotel Allied Trades Pvt. Ltd vs ACIT regarding expenditure on leasehold premises. Detailed analysis and implications included.

Same Methodology Must Be Applied for Valuing Opening & Closing Stock: Kerala HC

May 31, 2024 1431 Views 0 comment Print

Explore the detailed analysis of P. A. Jose Vs Union of India judgment by Kerala High Court regarding the valuation methodology for opening and closing stock. Understand the implications and legal aspects.

SAED on Petroleum Crude Production Reduced to ₹5,200 per Tonne from 01.06.2024

May 31, 2024 345 Views 0 comment Print

Ministry of Finance amends No. 18/2022-Central Excise to reduce Special Additional Excise Duty on Petroleum Crude production. Read Notification 15/2024 details here.

Govt revises Tariff Values for Edible Oils, Metals, Areca Nuts wef 1.06.2024

May 31, 2024 819 Views 0 comment Print

Ministry of Finance introduces amendments to customs tariff values for various goods through Notification 38/2024-Customs (N.T.). Details here.

Only costs directly related to CIRP & approved by CoC can be classified as CIRP costs: NCLAT

May 31, 2024 2139 Views 0 comment Print

NCLAT Delhi rules on Avil Menezes’ appeal regarding CIRP costs in Sunil Hitech vs Abdul Qudduskhan case. Detailed analysis of fabrication and erection work claims.

Advanced ICITSS – Adv. IT Test – Computer Based Mode

May 31, 2024 16680 Views 0 comment Print

ICAI announces Advanced ICITSS – Advanced IT Test in CBT mode on June 22 and July 20, 2024. Apply online by June 7/July 7. First attempt free, ₹500 for retakes.

Clandestine Removal Requires Corroborative Evidence: CESTAT Reduces Penalty

May 31, 2024 807 Views 0 comment Print

CESTAT Kolkata reduces penalty in Mittal Iron Foundry case, stating clandestine removal claims lack corroborative evidence.

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