Madras High Court held that post settlement of disputed under Chapter XIX-A of the Income Tax Act, the continuance of the proceedings u/s. 10(1) of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 cannot be allowed to continue. Thus, writ allowed.
ITAT Mumbai held that change of method of accounting from mercantile to cash system for recording interest income on loan due to financial distress at the end of borrower is justifiable and legitimate.
Madras High Court held that disciplinary proceedings initiated against Deputy Commissioner of GST is liable to be set aside since there was no negligence or omission on the part of the petitioner.
ITAT Pune directs CPC, Bangalore to allow foreign tax credit despite late filing of Form 67, ruling it as a procedural requirement and not mandatory.
Gujarat High Court allows condonation of delay in filing Form 10B for a charitable trust, overturning CIT order and directing tax exemption processing.
Delhi High Court upholds RBI’s FEMA penalty on an OCI cardholder for unauthorized agricultural land purchase in India, citing due process compliance.
The borrowers defaulted on loan repayment, prompting the petitioner to initiate proceedings under the SARFAESI Act. Physical possession of the property was taken on 05.12.2023.
Learn about FC-TRS form filing, foreign investment types, RBI compliance, and penalties for delayed reporting under FEMA regulations in India.
Summit Aviation Private Limited obtained financial assistance from respondent no.3, Punjab National Bank, for the purchase of helicopters. This financial assistance was secured through a hypothecation agreement dated 12.05.2008.
ITAT Ahmedabad dismisses appeals by GE Power India ex-staff, backing PCIT’s order for fresh assessment due to wrongly claimed tax exemptions on VRS.
