Explains how recent tribunal decisions shaped the rules for selling corporate debtors as going concerns, highlighting compliance, clean-slate protection and process discipline.
The Court held that cost directions based on earlier guidelines cannot be enforced as binding precedent. It set aside the imposed costs since the complainant sought no further payment and the appellant could not comply.
Breaks down India’s modern FDI framework, highlighting sectoral liberalization, reporting requirements and the compliance discipline needed for risk-free investment.
The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpayer access. The notification broadens the scheme’s reach while excluding rural branches.
Tribunal held that the AO had validly recorded dissatisfaction with the assessee’s 14A working and rightly invoked Rule 8D, confirming interest disallowance while remanding only the investment-averaging computation for Vireet-based recalculation.
The CESTAT Mumbai allowed an appeal against customs duty reassessment, holding that reclassification of copper busbars for EOU imports exceeded authorities’ jurisdiction and violated notification provisions.
The amendment introduces electronic payment modes for capital gains deposits and clarifies the effective date of deposit. It enhances taxpayer convenience and modernises compliance procedures.
Learn when and how sellers of overseas tour packages must collect TCS from buyers, including exemptions, applicable rates, and threshold limits.
The Tribunal held that the extended period could not be invoked because the Department was already aware of the appellant’s activities. Service tax was upheld only for the normal period, and the matter was remanded for recalculation.
HC held that delayed appeals need not prevent GST Registration restoration when taxpayer undertakes to file returns and pay outstanding dues. Restoration was directed subject to completing statutory formalities.
