The Tribunal held that employer-provided business advances cannot be classified as income under Section 69A without proper verification, remanding the case for limited review of TDS and expense records.
Kerala High Court held that proceedings against petitioner [recipient] for Input Tax Credit mis-match cannot be sustained since no proceedings have been initiated against the supplier. Accordingly, proceedings initiated against recipient is not legally sustainable.
NCLT Delhi held that application under section 33(2) of the Insolvency and Bankruptcy Code for liquidation of Corporate Debtor [M/s. VHV Beverages Private Limited] is allowed as decided by Committee of Creditor [CoC]. Accordingly, the present application is allowed.
Kerala High Court held that benefit of Sabka Vishwas (Legacy Dispute Resolution) Scheme (SVLDRS) admissible even though payment was affected after cut of date as extension since payment was made within period extended on account of COVID-19 pandemic.
SEBI amends regulations for Stock Exchanges, Clearing Corporations, and Depositories, enhancing accountability of MDs, EDs, and key management personnel.
The authority permitted withdrawal of the advance ruling application without examining its merits. The matter was disposed of with no findings on the issues raised.
The ruling held that bundling premix tea with various tea products is not naturally bundled and therefore constitutes mixed supply. The tax rate applicable is 5%, with the highest-rate principle guiding future cases.
The Delhi High Court held that interest must be paid after refund re-credit was delayed because PMT-03 did not reflect due to technical glitches. The Court directed authorities to process and sanction the interest within two months.
The Commission found that association-issued circulars prescribing uniform commercial terms amounted to price fixing under Section 3(3). The ruling highlights that trade association decisions among similar retailers fall squarely within anti-competitive prohibitions.
Explains why the three laws apply different export tests and highlights the unified approach needed to avoid refund losses, FEMA violations, and tax disputes.
