Section 230(1) allows companies to propose schemes of arrangement, which the Tribunal can order meetings to consider. The section requires disclosure of the company’s financial status, auditor’s reports, and schemes approved by at least 75% of secured creditors.
The penal provisions relating to the imposition of penalty under the GST laws are neither novelty nor something strange or extraordinary. There is hardly any dispute or legal challenge to such provisions.
Author attempt a comparative analysis of the taxation of income earned from the Immovable property held for earning Long Term Capital Gain with the most Common Assets which have been taxed at higher rates for a very long time.
CAAR Mumbai rules foil balloons are classified under CTI 9505 90 90, while latex balloons fall under CTI 9503 00 20 for customs tariff purposes.
CAAR Mumbai rules Vessel Kashi must file Bill of Entry, pay Customs duties, and qualifies as ‘supply’ for IGST under Customs Tariff Act, 1975.
Background: In the recent past, multiple initiatives are taken by the Government in consultation with the GSTN to streamline the GST return filing. The auto-population of details in GSTR-3B which is earlier loaded in GSTR-1 is one such classic example. As on date, the auto-populated figures in the GSTR-3B are editable by the taxpayers. This […]
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When an assessee voluntarily discloses income and the assessment is based on this disclosure without any changes, imposing a penalty under Section 271(1)(c) is unjustified.
Explore the detailed analysis of ITAT Jaipur’s judgment in Sunil Chablani Vs Circle (Intl. Tax) case. Key issues include jurisdiction, assessment errors, and procedural flaws.
The removal of Angel Tax is a major relief for startups. Discover implications, benefits, and potential downsides of this significant change.
