CESTAT Delhi rules Customs officers lack power to re-determine export FOB value. Overturns order against Jayantah Trading Co on over-valuation, penalties, and drawback. Reaffirms transaction value primacy.
ITAT Amritsar removes Rs. 4.72 lakh income addition for senior citizen, citing accumulated cash for emergencies. Overturns CIT(A) decision on bank deposit.
Learn how tenants can claim refunds for excess TDS deducted on rent under Section 194-IB of the Income Tax Act. Follow a detailed guide from TRACES for filing refund requests and ensuring compliance with updated TDS rates effective from October 2024.
Upcoming bank nomination reforms allowing multiple nominees may complicate deposit claims, creating issues for heirs and banks unless key legal and practical challenges are addressed.
Understand why an income-tax penalty under Section 271(1)(c) is invalid if the charge isn’t specified as concealment or inaccurate particulars. Learn legal precedents and appeal strategies.
Understand cost of material consumed, stock-in-trade, and inventory changes. Learn practical explanations, regulatory alignment, and reporting under Companies Act, 2013.
High Court allows delayed GST appeal (Section 107) due to peculiar circumstances, directing the appellate authority to hear it on merits within 8 weeks.
Karnataka HC set aside a consolidated GST demand order against IBC Knowledge Park, allowing company to avail Amnesty Scheme for specific financial years.
Supreme Court affirms Kerala’s power to tax cable TV as a luxury under Entry 62, List II, clarifying no conflict with central service tax on broadcasting.
Bangalore ITAT confirms Adarsh Developers’ right to claim ₹468 crore as business loss for advances to subsidiary, citing business expediency and prior precedents.
