NCLAT Delhi held that delay in filing restoration appeal can be condoned in terms of rule 48 of the NCLT Rules, 2016 since sufficient cause made out. Accordingly, matter restored back to the Adjudicating Authority.
We’ll also explore specific mutual fund schemes with strong track records, high-quality underlying portfolios and robust fund management—all essential to long-term success.
ITAT Ahmedabad held that taxing entire unaccounted cash receipts or on-money receipts not justified as only profit embedded in such receipts is taxable. Accordingly, AO directed to adopt 13% profit margin on real estate business and tax accordingly.
ITAT Hyderabad held that addition under section 69 of the Income Tax Act towards unexplained investment sustained since documents seized is incriminating in nature. Accordingly, appeal of assessee dismissed.
Gujarat High Court upholds CA certificates for unutilized ITC refunds on netted foreign exchange, easing compliance for businesses with RBI-approved clearing mechanisms. This ruling clarifies proof requirements for forex export services.
Rajasthan High Court held that bail application in GST fake firm case is denied based on seriousness of the offence and also petitioner has attempted to abscond from the custody at the time of consideration of bail application.
Taxability of an individual in India is primarily determined by their residential status under the Income Tax Act, 1961. For returning NRIs, the Resident but Not Ordinarily Resident (RNOR) status often offers significant advantages during the initial years.
Explore why foreign exchange gains/losses, particularly on revenue items, should be excluded from Profit Level Indicator (PLI) calculations in Transfer Pricing, challenging current judicial precedence and OECD guidelines.
India’s Competition Commission closed a case against Cholamandalam MS General Insurance and Central Bank of India, finding no dominance or competition concerns in a dispute over a flood-damaged micro-unit’s insurance claim.
The Supreme Court criticizes the practice of withdrawing voluntary monetary offers made during bail hearings, remanding a case for fresh consideration on merits.
