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Archive: May, 2024

Posts in May, 2024

Understanding External Commercial Borrowings (ECB) Regulations

May 9, 2024 20564 Views 1 comment Print

Understand the intricacies of External Commercial Borrowings (ECB) – concept, modes, compliance, and steps. Explore criteria, restrictions, and filing procedures for successful ECB procurement.

Navigating journey through SME IPO

May 9, 2024 1023 Views 0 comment Print

Embark on the journey of SME IPOs with expert insights. Learn about planning, preparation, and execution, ensuring compliance and leveraging market optimism for success.

Tax Implications on Slump Sale

May 9, 2024 5787 Views 0 comment Print

Learn about tax implications on slump sales under Section 50B of the Income-tax Act. Understand computation, rates, and GST implications. Ensure comprehensive business succession planning.

CCI cannot demand interest without following prescribed procedure: Delhi HC

May 9, 2024 1188 Views 0 comment Print

Delhi High Court sets aside CCI’s order, ruling that penal interest can’t be imposed without following proper procedure. Detailed analysis of Geep Industries (India) Pvt. Ltd. & Ors Vs Competition Commission of India.

12% GST payable on ‘mango pulp’ from 1st July 2017: Gujarat HC

May 9, 2024 1062 Views 0 comment Print

Gujarat High Court’s judgment clarifies the 12% GST levy on mango pulp. Analysis of the case Vimal Agro Products Pvt. Ltd. & Anr. Vs Union of India & Ors.

Madras HC Allows Contesting GST Demand: Cancer Diagnosis Grounds Valid

May 9, 2024 804 Views 0 comment Print

In Tvl. B.L. Collection Vs Deputy Commercial Tax Officer, Madras High Court allows contesting GST demand due to cancer diagnosis, requiring 10% pre-deposit. Full judgment included.

GST Appellate Authority’s Power to Enquire Further after Erroneous Order: Kerala HC

May 9, 2024 1026 Views 0 comment Print

Section 107(11) provides wide-ranging powers to the appellate authority to modify orders passed under Section 130(2) by the adjudicating authority. It emphasized that as long as the appellate authority’s decision is based on relevant considerations and is not manifestly unjust or unreasonable, the court has limited scope to interfere with its discretion.

Section 143(3) Assessment Order Void Ab Initio If Notice Issued by Non-Jurisdictional ITO

May 9, 2024 8640 Views 0 comment Print

Explore the implications of jurisdictional issues in tax assessment with the case of YKM Holdings Pvt. Ltd. vs ACIT, assessing the validity of section 143(3) assessments without proper notices under section 143(2).

Kerala HC Mandates Uniform Bail Conditions for Money Laundering Case Accused

May 9, 2024 1128 Views 0 comment Print

Kerala High Court mandates uniform bail conditions for accused in a money laundering case. No prior sanction needed for travel abroad. Full text judgment included.

Kolkata ITAT deletes Share Premium Addition as identity & creditworthiness of Subscriber Companies proved

May 9, 2024 837 Views 0 comment Print

Read detailed analysis as Kolkata ITAT removes unexplained cash credit addition in Sharda Ferro Works Pvt. Ltd. Vs DCIT case. Share capital scrutiny under section 68.

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