Under section 151(ii), where the alleged escaped income was more than Rs. 50 lakh, and where more than three years have passed since the relevant assessment year require approval from a higher-level authority.
ITAT Delhi quashes reassessment for AY 2015-16, finding the Section 148 notice issued on July 29, 2022, was beyond the statutory limitation period.
CESTAT Ahmedabad rules export commissions aren’t subject to service tax under reverse charge without a direct contract between the Indian exporter and foreign agent.
Himachal Pradesh High Court: ITC cannot be denied solely on supplier’s retrospective GSTIN cancellation without verifying transaction genuineness.
Gauhati High Court sets aside an order due to the absence of a proper Show Cause Notice under Section 73(1) of the CGST Act and denial of personal hearing.
Income received by an electricity distribution company from staff loans and advances should be classified as business income under Section 28(i) and not as “income from other sources”.
RBI has amended FEMA regulations, including tugs, dredgers, and offshore support vessels under export of goods and services, subject to their re-import.
Kerala High Court held that the vessel under the South East Asia and Indian Ocean Cable Maintenance Agreement [SEAIOCM Agreement], the vessel can be categorized as a foreign going vessel and hence entitled for exemption u/s. 87 of the Customs Act. Accordingly, writ by revenue dismissed.
Madras High Court held that main object of the Charitable Trust being microfinance is not eligible which is not charitable in nature cannot claim the benefit of exemption either under Section 11(1) or under Section 11(4A) of the Income Tax Act.
The petitioner is a registered dealer under the GST Act, dealing with milk and milk products. As part of its business, the petitioner processes and sells, flavoured milk, to customers within and outside the State of Andhra Pradesh.
