CESTAT Delhi held that ‘Twaron Para Aramid Pulp’ is classifiable under Customs Tariff Item 5601 30 00 and not under Customs Tariff Item 5601 22 00. Accordingly, differential duty along with interest confirmed.
Understand TDS on cash withdrawals under Section 194N, including thresholds, rates, compliance rules, exemptions, penalties, and filing requirements for banks and other deductors.
ITAT Hyderabad held that cancellation of registration granted to appellant-society u/s. 12AA of the Income Tax Act not justifiable since conditions precedent for cancellation of registration u/s. 12AB(4)(ii) of the Income Tax Act not satisfied.
Madras High Court held that development charges paid to SIPCOT not being capital asset doesn’t qualify for the claim of depreciation. However, the same qualifies as revenue expense and assessee entitled to claim deduction @5% as SIPCOT would deduct 5% every year.
Delhi High Court held that writ seeking direction to Central Bureau of Investigation [CBI]; Enforcement Directorate [ED] and Serious Fraud Investigation Office [SFIO] to investigate in gigantic Westland Trade Pvt. Ltd. franchisee scam is dismissed.
CESTAT Chennai held that imported LED Monitors Tiles are classifiable under Customs Tariff Heading 84285200 and hence eligible for exemption in terms of Notification No. 24/2005-Cus dated 01/03/2005. Accordingly, appeal allowed.
HC held that cyber fraud causes systemic harm to digital economy and cannot be treated as a private dispute, rejecting a quashing plea despite settlement. Key takeaway: compromise cannot erase cybercrime liability.
IFSCA’s amended Listing Regulations now allow companies to list shares on IFSC exchanges without a public offer, simplifying entry into international markets. The framework enhances liquidity, cross-border visibility, and regulatory efficiency.
Authorities uncovered a web of non-existent entities issuing invoices without supply, causing huge GST revenue loss. The mastermind was arrested under cognizable and non-bailable CGST Act offences.
SC ruled that providing a Form 15CB certificate is a tax-compliance function, not a criminal act. Without proof of knowing assistance, CAs cannot be dragged into PMLA proceedings.
