CAAR held that the development board is not an ADP machine or part thereof and classified it under Heading 8517 based on its communication functions.
The case examines whether imported semen storage straws should be classified as veterinary instruments under Heading 9018 or plastic articles under Heading 3926, focusing on their design, function, and role in artificial insemination.
The MSME Act requires timely payment to Micro and Small Enterprises. Delays may result in compound interest, financial statement disclosures and deferred tax deduction.
Courts held that Section 62 best judgment assessments lose effect once valid returns are filed and tax dues are paid, requiring the department to follow regular assessment.
The article explains why debtor realisation and ageing should be analysed over at least three months to assess receivable quality and drawing power accurately.
Companies having loans, customer advances or deposits as on 31 March must file Form DPT-3 by 30 June, including exempted transactions.
ITAT remanded the matter after holding that the CIT(A) passed a non-speaking order without giving reasons or properly considering the assessee’s submissions.
NCLAT held that the CoC may decide to liquidate a corporate debtor under Section 33(2) before inviting resolution plans, with limited judicial review.
A company with share capital cannot commence business or borrow funds until Forms INC-20A and INC-22 are filed. Section 10A non-compliance attracts significant penalties.
Section 112 prescribes strict timelines for GSTAT appeals, with limited power to condone delay. Taxpayers must file within the statutory period to avoid dismissal without consideration of merits.
