In Topaz Service Corporation Vs Commissioner of CGST (CESTAT Delhi), it was ruled that Erection, Commissioning and Installation Services should only tax pure service contracts, excluding composite contracts with goods.
ITAT Ahmedabad held that merely making a claim that is not sustainable does not amount to furnishing inaccurate particulars of income. Accordingly, penalty u/s. 271(1)(c) of the Income Tax Act not justified.
Bombay High Court held that amount paid towards community services and social welfare under Memorandum of Settlement under the Industrial Dispute Act is allowable as business expenditure.
ITAT Chennai held that construction of new dwelling unit on first floor is eligible for deduction under section 54F of the Income Tax Act as construction was done within stipulated time limit.
The provisions of Income Tax Act, provide for mechanism of filling of appeals against orders passed under the proceedings of the Act, both by tax payer and the Department before respective appellate Authority, such as Joint Commissioner of Income Tax (Appeals), Commissioner of Income Tax (appeals), the Income Tax Appellate Tribunal, High Court and Supreme […]
Sri Avantika Contractors (I) Limited. Vs Appellate Authority for Advance Ruling (GST) and others. (Telangana High Court) Telangana High Court held that consideration received towards ‘works contract service of construction’ which was completely executed outside the territory of India is outside the purview of GST. Accordingly, GST not leviable. Facts- The Government of India (GoI) […]
Delhi HC reduces pre-deposit requirement for Shubh Impexs appeal in customs duty dispute over imported goods classification.
SEBI invites comments on a draft circular introducing a Liquidity Window facility for debt securities. Submit your feedback by September 6, 2024.
SEBI seeks public input on easing compliance for non-convertible securities, aligning regulations with equity-listed entities, and reducing reporting timelines.
SEBI seeks public feedback on replacing ‘consent letter’ with ‘debenture trustee agreement’ in offer documents, enhancing transparency with QR codes.
