Mumbai ITAT allows Vanguard Total International Stock Index Fund to set off STT-paid losses against non-STT gains, citing Calcutta High Court precedent and no hierarchy in Section 70.
Mumbai ITAT allows Emerging Markets Index Fund to set off short-term capital losses against gains with differential tax rates, citing Section 70(2) and judicial precedents.
ITAT Mumbai rules on iShares MSCI EM UCITS ETF’s appeal, allowing set-off of short-term capital losses against gains regardless of differing tax rates or STT payment.
NCLAT Delhi affirms Corporate Debtor’s insolvency, ruling alleged coal quality dispute an afterthought after demand notice lacked timely response.
CESTAT Delhi overturns central excise duty demand and penalties on Surya Wires, ruling that statements recorded under Section 14 cannot be relied upon without following Section 9D’s mandatory procedure.
Appeals by M/s. Combine Trading Co. and Shri Jaspreet Singh dismissed in customs undervaluation case. Investigations revealed mis-declaration and use of parallel invoices.
Delhi High Court defers ruling on GST deadline extension notifications, awaiting Supreme Court’s decision amid conflicting High Court judgments.
CESTAT Chennai rules on service tax liability for TASMAC’s bar license fees, affirming statutory function post-March 2013 and citing judicial precedents.
Punjab & Haryana High Court dismisses revenue appeals, quashing tax scrutiny assessment against Crystal Phosphates Ltd. due to non-compliance with binding CBDT instructions for case selection.
A common point of confusion for millions of grocery store owners and other small retailers in India is whether they must include Harmonized System of Nomenclature (HSN) code when filing their GSTR-1 returns.
