CESTAT Kolkata held that Indian Refractory Mortar is classifiable under CTH 38160000 and not under CTH 2610. Thus, no export duty payable on the same. Accordingly, appeal of the revenue dismissed.
High Court failed to examine whether the complaint, even if taken at face value, established the personal liability of the directors under the Punjab Land Preservation Act, 1900.
It was held that considering the provisions of CBDT Circular No. 1916 and the explanation provided by the assessee, the seized gold jewellery up to the specified thresholds for each family member should be treated as explained.
Bombay High Court held that reassessment proceeding u/s. 148 initiated against non-existing company is not sustainable in law in as much as the department was already informed about the merger. Accordingly, notice quashed.
The ITAT emphasized that the appeal should be decided on merits after condoning delay where sufficient explanation exists. The CIT(A) was directed to provide proper opportunity of hearing to the assessee.
SEBI responds to NOCIL Limited’s request for guidance on amended PIT Regulations, addressing compliance obligations for designated persons and their relatives.
IRDAI permits insurers to use Bond Forwards for hedging, subject to compliance with RBI directions, prudential norms, and operational guidelines from FIMMDA.
ITAT Kolkata addressed TDS disallowance and procedural compliance in PBN Constructions Pvt. Ltd. Vs DCIT. Analysis includes judicial precedents and key findings.
Madras HC rules failure to register under GST law constitutes deliberate tax evasion. Case highlights tax liability, penalties, and compliance with GST norms.
Understand India’s taxation system, including direct and indirect taxes, their impact, and ongoing reforms to ensure equity and efficiency in tax collection.
