Kerala High Court held that declaring income and paying tax under Income Tax Act does not preclude action under the Benami Transactions Act, as both operate independently.
FOB value was the product of negotiations and deliberations between the parties to the contract, which value could not be modified by any stranger to the contract by virtue of the principle of “privity of contract”.
The Court found no grounds to interfere with the Madras High Court’s decision dated 08.08.2024 and dismissed all pending applications, affirming judicial consistency.
Since the transactions in seized records were only notional mock trading entries and not unexplained cash credits, only brokerage income at 1% of transaction value was taxable.
Learn about the latest relaxations and optional tables in GSTR-9 and GSTR-9C for FY 2024-25, including simplified ITC and exempt supply reporting.
Understand the Taxpayer Information Summary (TIS), its features, access steps, and how it helps in reviewing income and financial data under AIS.
A deep dive into the real-world challenges faced by liquidators post-IBBI amendments — from tight SCC deadlines to complex reporting and valuation hurdles.
The NCLAT Delhi held that adverse observations made against an IRP in NCLT proceedings should not affect his reputation when no opportunity to respond was given.
Learn how to correctly report ITC claims, reversals, and reclaims in GSTR-9 for FY 2024–25 with proper table references to avoid duplication and compliance errors.
The Court’s 2025 ruling upheld CCI’s power to impose structural and personal penalties without a second notice, marking a major milestone in India’s competition law enforcement framework.
