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Archive: February, 2025

Posts in February, 2025

Delhi HC Orders Customs to Release Seized Goods Over SCN Issue Failure

February 17, 2025 984 Views 0 comment Print

Delhi HC directs Customs to release detained gold, iPhone, and more after failure to issue a Show Cause Notice within six months. Read the full case summary.

How to Apply for a Lower Tax Deduction Certificate (LTDC)

February 17, 2025 1251 Views 3 comments Print

Learn how to apply for a Lower Tax Deduction Certificate (LTDC) under Section 197 to reduce TDS, improve cash flow, and optimize tax savings.

Overview of Accounting Standard (AS) 10: Property, Plant and Equipment

February 17, 2025 657 Views 0 comment Print

Understand the key principles of AS 10 for Property, Plant, and Equipment (PPE), including recognition, cost treatment, depreciation, and revaluation.

Extraterritoriality and Enforcement: Legal Labyrinth of Maritime Sanctions

February 17, 2025 153 Views 0 comment Print

Explore the complexities of enforcing maritime sanctions, focusing on legal hurdles, international compliance, and the impact on shipping and trade.

CGST Rule 38 Claim of credit by banking company or financial institution

February 17, 2025 1203 Views 0 comment Print

Understand ITC reversal rules for banks & NBFCs. Compare Rule 38 & Rule 42 for ITC claims, exemptions, and GSTR-3B reporting. Find the best option for compliance.

Madras HC order adjustment of recovered amount towards 25% of disputed GST

February 17, 2025 174 Views 0 comment Print

Madras High Court quashes GST assessment order, granting Tvl. Rajendran Karthikeyan a chance to submit objections after paying 25% of disputed taxes.

Summary Issuance of SCN Not Considered Proper Under Section 73 of CGST Act

February 17, 2025 417 Views 0 comment Print

Gauhati High Court held that issuance of summary of the Show Cause Notice [SCN] doesn’t dispense with requirement of issuance of proper notice as per mandate of Section 73 of the Central Goods and Services Tax Act. Accordingly, order set aside and writ allowed.

FSSAI Proposes Amendments to Food Testing Regulations 2025

February 17, 2025 216 Views 0 comment Print

FSSAI drafts amendments to food testing rules, focusing on analysis methods, reporting timelines, and laboratory procedures. Public feedback invited within 60 days.

Misuse of Section 498A IPC to Harass Husband, Family is Abysmal: Delhi HC

February 17, 2025 1776 Views 0 comment Print

Delhi HC quashes an FIR citing misuse of Section 498A IPC, highlighting false dowry harassment allegations and the need for legal reforms to prevent abuse.

Penalty u/s. 271AAA(1) for undisclosed income admitted during search set aside as tax paid with interest

February 17, 2025 117 Views 0 comment Print

Supreme Court held that no penalty under section 271AAA(1) of the Income Tax Act when undisclosed income during course of search is admitted and paid tax with interest. Accordingly, penalty u/s. 271AAA(1) set aside.

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