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Archive: 14 July 2024

Posts in 14 July 2024

No Service Tax on Quality Assurance Charges for testing rifles: CESTAT Chennai

July 14, 2024 615 Views 0 comment Print

Amounts collected towards quality assurance charges for testing the rifles are fees prescribed for conducting the quality checks and are not liable to service tax

NCLT rejects CIRP application as default by Corporate Debtor not proved

July 14, 2024 1116 Views 0 comment Print

Detailed analysis of the NCLT Mumbai judgment in SBI vs Navjeevan Tyres, addressing issues of loan recall notice and corporate guarantor demand.

Rejection of adjournment request without proper consideration: HC quashes order

July 14, 2024 1446 Views 0 comment Print

Karnataka HC quashes Income Tax order against Toyota Industries Engine India Pvt Ltd due to First Appellate Authority ignoring adjournment application.

TNVAT: Madras HC Sets Aside unreasoned Order on Liquor Supply by Club

July 14, 2024 1404 Views 0 comment Print

Madras High Court remands the case on the taxability of liquor supplied by Little Star Recreation Club to its members and guests under TNVAT for reconsideration.

NCLT Upholds RP’s Stance on Malafide Assignment for Indirect CoC Representation

July 14, 2024 753 Views 0 comment Print

NCLAT Delhi upholds NCLT decision against Rolta Private Limited’s assignment agreement as malafide, prolonging CIRP process. Full judgment analysis here.

No confiscation of Goods on mere allegation of smuggling without proof

July 14, 2024 777 Views 0 comment Print

CESTAT Kolkata rules no confiscation of mosquito repellents and ladies garments in Debesh Dey vs Commissioner of Customs case under Section 123 of Customs Act.

NBFC Fair Practice Code: RBI Scale Based Regulations

July 14, 2024 4491 Views 0 comment Print

Explore NBFC Fair Practice Code under RBI Scale Based Regulations. Learn about guidelines, transparency, customer rights, and grievance redressal mechanisms.

Tax proposals confirmed for non-submission of documents: HC set-aside GST order

July 14, 2024 1137 Views 0 comment Print

Explore the Madras High Court judgment setting aside GST liability due to non-production of demanded documents. Detailed analysis and conclusion provided.

ITAT upholds enhancement by CIT(A) as addition were based on facts & not mere suspicion

July 14, 2024 993 Views 0 comment Print

ITAT noted that CIT(A)’s decision was reasoned, considering discrepancies in repayment timelines and absence of proper documentation or corroborative evidence. It concluded that CIT(A)’s findings were based on facts and did not merely rely on suspicion.

Gujarat HC on allowability of expenses incurred for clearing mortgage debts

July 14, 2024 948 Views 0 comment Print

Gujarat High Court allows income tax deduction for payment clearing mortgage, dismissing Revenue’s appeal under section 263. Full text of judgment explained.

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