IFSCA circular clarifies that Banking Units in an IFSC can open foreign currency accounts for Indian residents without prior approval, as per a 2015 regulation.
Maharashtra State Tax Commissioner issues forms for settlement of GST arrears under 2025 Act; physical submission required for periods up to June 2017.
Held that if the transaction value (FOB value) is so high, that the drawback due on the goods exceeds the market value of the goods, then, as per section 76(1) (b) of the Customs Act, no drawback shall be allowed.
CESTAT Chennai held that the classification of the goods cannot be said to be one involving suppression of facts and willful mis-statement. Hence, invocation of extended period of limitation under section 28(4) of Customs Act not justified.
Madras High Court held that issuance of show cause notice under Customs Act by Additional Director General of Central Excise Intelligence based on notification which does not specify any territorial jurisdiction is not sustainable in law.
Karnataka High Court issued a writ of mandamus directing appellate authority to dispose of the matter expeditiously as amount recovered under GST as petitioner alleges that recovery is done adopting coercive and forceful means.
ITAT Bangalore held that cash gifts received from relatives and friends during wedding cannot be treated as unexplained money u/s. 69A of the Income Tax Act merely because each donor is not individually verified. Accordingly, addition directed to be deleted.
Madras High Court held that the provisional attachment order passed under Section 83 of the CGST Act could not be made a basis to challenge any action that may be taken in future or any order passed towards recovery of loan under the SARFAESI Act.
The ROC Ahmedabad has fined TREE TOP RESORTS AND SPA PRIVATE LIMITED and its directors after a letter was returned undelivered, indicating the company failed to maintain a registered office.
The ROC has penalized Shanti Inorganics and its directors for violating Section 203 of the Companies Act, as a key managerial person held roles in two separate companies.
