Bombay High Court held that in absence of express authorization, thus service upon the Chartered Accountant [CA] do not absolve the Tribunal of serving the copies of the order upon the assessee. Thus, appeal allowed and delay condoned.
CESTAT Delhi held that ‘paytm’ soundbox is primarily meant to work with 2G device and not 4G LTE complaint device hence eligible for concessional rate of 10% basic customs duty [BCD] vide notification no. 57/2017 dated 30.06.2017.
The Ministry of Finance has temporarily exempted cotton imports from customs duty and AIDC. The exemption, effective from August 19 to September 30, 2025, is aimed at public interest.
Merely on the premise of mixing of the cargo, post the issuance of the let export order could not justify the claim for demand of duty on the entire lot, when there was nothing contrary to hold Fe% being more than the dutiable threshold, when arrived at on WMT basis.
The CBIC Chairman’s August 2025 newsletter discusses upcoming GST reforms, the board’s top ranking in grievance redressal, and a recent tax evasion case involving subsidized urea.
Where Cooperative Society was engaged in the business of providing credit facilities to its members, they deposited excess amount for short term in banks, interest earned was entitled for deduction under Section 80P(2)(a)(i).
ITAT Surat held that addition of unexplained stock as unexplained investment u/s. 69 of the Income Tax Act upheld due to claim of closing stock was not supported by any verifiable evidences. Accordingly, ground of appellant dismissed.
NCLT Delhi held that Fixed Deposit Receipts FDRs standing in the name of the Corporate Debtor constitute financial assets and form an integral part of the Corporate Debtors estate. Thus, resolution professional is directed to approach concerned bank and request defreezing of FDRs to ensure control over the same.
CBDT notifies new perquisite rules under Section 17(2); salary limit ₹4 lakh and gross total income limit ₹8 lakh for claiming exemptions.
Orissa High Court held that a party cannot be permitted to take inconsistent stand at different stages of the proceeding. Thus, contention that Fe content in IOF is to require to be determined on the basis of Dry Metric Ton [DMT] and not Wet Metric Ton [WMT] cannot be sustained.
